Merchandise Export Performance : October 2002

Reference Number: 


Release Date: 

Wednesday, December 4, 2002



For October 2002, reported earnings moved up by 2.6 percent to $3.016 billion from $2.941 billion during the same month a year ago.

Receipts from merchandise exports for January to October 2002 increased by 8.1 percent to $29.049 billion from $26.875 billion during the same period in 2001.


Receipts from Electronic Components, accounting for 54.9 percent of the aggregate export revenue for the month, went up by 8.5 percent to $1.656 billion from $1.526 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 6.6 percent and an aggregate receipt of $198.17 million or 0.6 percent higher than $197.0 million a year earlier.

Petroleum Products, ranked third with a total revenue of $46.66 million reflecting a 377.2 percent increase from $9.78 million last year.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fourth with sales amounting to $37.56 million, a year-on-year growth of 15.0 percent from $32.65 million.

Revenue from Other Products Manufactured from Materials Imported on Consignments Basis, went down by 27.3 percent to $36.49 million from $50.16 million during the same month of 2001.

Rounding-up the list of the top exports for the month of October 2002 were: Woodcrafts and Furniture, $36.25 million; Metal Components, $35.95 million; Coconut Oil, $34.89 million; Bananas (Fresh), $29.72 million; and Cathodes & Sections of Cathodes, of Refined Copper, $21.26 million.

Aggregate receipt for the top ten exports amounted to $2.133 billion, or 70.7 percent of the total exports.

Fig. 1. Philippine Top Exports in October: 2001 & 2002
( F.O.B. Value in Million US Dollar )


Accounting for 88.8 percent of the total receipts, exports of Manufactured Goods gained by 2.3 percent as sales reached $2.679 billion, from $2.618 billion during the same period of 2001.

Income from Agro-Based Products, combined for $139.95 million or 4.6 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group grew by 10.5 percent from $126.64 million.

Special Transactions fell by 25.3 percent to $98.87 million from $132.36 million, while receipt from exports of Mineral Products decreased by 2.8 percent to $50.67 million from $52.14 million.

Petroleum Products recorded $46.68 million, while Forest Products posted $1.49 million dollars worth of exports.

Fig. 2. Philippine Exports by Commodity Group in October: 2001 & 2002
( F.O.B. Value in Million US Dollar )


Accounting for 22.5 percent of the country's aggregate receipts for the month, exports to the United States valued at $678.81 million, declined by 15.1 percent from last year's reported figure of $799.59 million.

Japan followed with a 14.3 percent share. Valued at $430.44 million, exports to Japan grew by 2.2 percent from $420.99 million.

Netherlands accounted for 7.8 percent of the total receipts at $236.48 million, down by 14.7 percent from $277.18 million a year earlier.

Singapore emerged as the fourth biggest market for the month as shipments of local goods amounted to $235.11 million or 7.8 percent of the total. Compared to the same month last year figure, receipts went up by 19.8 percent from $196.24 million. Other top markets for October 2002 were: Hongkong, $228.15 million; Taiwan, $225.22 million; Malaysia, $155.55 million; People's Republic of China, $137.52 million; Germany, $131.23 million; and Republic of Korea $123.95 million.

Total export receipts from RP's top ten markets amounted to $2.582 billion or 85.6 percent of the total.

Fig. 3. Philippine Top Exports by Country in October, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines