Merchandise Export Performance : October 2002

Reference Number: 

2002-193

Release Date: 

Wednesday, December 4, 2002

 

MERCHANDISE EXPORTS REGISTERED 2.6 PERCENT INCREASE

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.

ELECTRONIC COMPONENTS INCREASED BY 8.5 PERCENT

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 )

MANUFACTURED GOODS INCREASED BY 2.3 PERCENT

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 )

EXPORTS TO US ACCOUNT FOR 22.5 PERCENT

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

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