* Includes transactions that passed through Automated Export Documentation System (AEDS)- Subic Bay    Metropolitan Authority (SBMA).
p - preliminary
r - revised

Merchandise exports register 3.2 percent decrease  

Export earnings for October 2005 declined by 3.2 percent to $3.634 billion from $3.753 billion during the same period a year earlier.

Receipts from merchandise exports during the period January to October 2005 grew by 3.2 percent to $33.764 billion from $32.718 billion during the same period last year.

Electronic products down by 9.0 percent   

Electronic products, accounting for 66.0 percent of the aggregate export revenue in October, fell by 9.0 percent to $2.400 billion from $2.637 billion of the previous year. Decreases were noted in six electronic groups with control and instrumentation contributing the biggest negative growth of 89.5 percent.

Among the major groups of electronic products, components/devices (Semiconductors) got the highest share with 48.7 percent to total exports. Semiconductors posted a negative rate of 8.1 percent to $1.768 billion from $1.924 billion during the same month in 2004.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 5.7 percent and an aggregate receipt of $207.72 million or 27.7 percent higher than $162.65 million a year ago. This was brought about by the bulk order of men's shirts and women's blouses.

Petroleum products, ranked third with sales amounting to $80.57 million or a year-on-year growth of 84.7 percent from $43.63 million. This can be attributed to the higher demand in gas and fuel oils. 

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), ranked fourth with total revenue of $64.88 million reflecting a 27.0 percent decrease from $88.92 million during the same period of 2004. 

Revenue from other products manufactured from materials imported on consignment basis increased by 21.7 percent to $57.75 million from $47.44 million.  

Rounding up the list of the top exports for the month of October 2005 were coconut oil, $47.40 million. This resulted from higher demand in crude coconut (copra) oil.  Metal components gained by 22.8 percent to $41.76 million from $34.02 million. Exportations made on gear-boxes of motor vehicle mainly contributed to this increase. Woodcrafts and furniture, $33.79 million; bananas (fresh), $31.91 million; and cathodes and sections of cathodes, of refined copper, $30.86 million with 20.9 percent annual growth.

Total receipts for the top ten exports reached $2.997 billion, or 82.5 percent of the total exports.

Fig. 1  Philippine Top Exports: October 2005 and 2004
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods register 4.2 percent decrease

Accounting for 89.5 percent of the total receipts, exports of manufactured goods was worth $3.253 billion, a  4.2 percent decline from $3.398 billion during the same period a year ago.

Earnings from all agro-based products combined for $158.84 million or 4.4 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group climbed by 2.7 percent from $154.69 million.

Income from petroleum products accelerated by 84.6 percent to $80.56 million from $43.63 million while receipts from exports of mineral products increased by 19.7 percent to $71.86 million from $60.03 million.

Special transactions recorded earnings of $68.18 million, while forest products posted $1.60 million.

Fig. 2  Philippine Exports by Commodity Group: October 2005 and 2004
(F.O.B. Value in Million US Dollars)

 

Exports to United States account for 19.0 percent

Accounting for 19.0 percent of the country's aggregate income for the month, exports to United States was valued at $692.45 million. Receipts went up by 22.6 percent from last year's reported figure of $565.06 million. 

Japan followed with a 14.2 percent share. Earnings at $516.59 million, went down by 41.8 percent from $888.42 million.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $412.68 million or 11.4 percent of the total. Receipts went up by 4.0 percent from $396.73 million during to the same period of 2004.

Exports to Singapore accounting for 8.5 percent of the total receipts was worth $310.23 million, a 58.2 percent increase from $196.11 million during the same month of the previous year.

Other top markets for October 2005 were: Hong Kong, with exports worth $299.85 million; People's Republic of China, $291.51 million;  Malaysia, $209.55 million; Taiwan, $167.74 million; Germany, $130.62 million; and Republic of Korea, $116.46 million.

Total export receipts from RP's top ten markets for the month of October amounted to $3.148 billion or 86.6 percent of the total.

Fig. 3  Philippine Top Exports by Country: October 2005
(F.O.B. Value in Million US Dollars)

Source:  Economic Indices and Indicators Division
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines