* Includes transactions that passed through Automated Export Documentation System (AEDS). 
p - preliminary 
r - revised

OCTOBER  2009 MERCHANDISE EXPORTS POSTED 8.3 PERCENT DECLINE

Export earnings in October 2009 recorded a single-digit negative growth of 8.3 percent from $3.990 billion in October 2008 to $3.660 billion after posting double-digit decreases for nine consecutive months starting January 2009.  Compared to previous months level, however, it slightly increased by 0.7 percent from $3.636 billion in September 2009.  Aggregate merchandise exports from January to October 2009, on the other hand, dropped by 27.0 percent from $42.890 billion registered during the same ten-month period in 2008 to $31.300 billion.

ELECTRONIC PRODUCTS FELL BY 7.4 PERCENT

Accounting for 59.1 percent of the total export revenue in October  2009, Electronic Productsamounted to $2.162 billion. It was lower by 7.4 percent from $2.335 billion in October  2008.  The decline can be attributed to the 15.5 percent annual negative growth in the Components/Devices (Semiconductors) which comprised 39.5 percent of the total exports and the biggest share among the major groups of electronic products.   Similarly, on a monthly basis, it diminished by 3.9 percent from $2.250 billion in September 2009.

Articles of Apparel and Clothing Accessories representing 3.2 percent share of total exports in October 2009 emerged as RPs second top earner with revenue valued at $115.4 million. This commodity group, however, exhibited the highest year-on-year decrease of 17.7 percent from among the top ten exports.   

Cathodes and Sections of Cathodes, of Refined Copper followed as the third top earner in October 2009 with total export earnings of $112.27 million or a share of 3.1 percent to the total export receipts.  It inched up by 0.6 percent from $111.62 million in October 2008.

Ranked fourth in October 2009 and contributing 2.5 percent to the total export receipts wasWoodcrafts and Furniture with revenue amounting to $91.55 million. This value grew by 1.1 percent from its year ago level of $90.58 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisting only of electrical wiring harness for motor vehicles) with 2.4 percent share to the total export receipts ranked fifth with value posted at $87.25 million or 30.3 percent increase from  $66.98 million in October  2008.

Rounding up the list of the top ten exports for the month of October  2009 were Coconut Oil (including crude and refined) with export receipts of $77.29 million contracted by 10.8 percent;  Other Products Manufactured from Materials Imported on Consignment Basis with export earnings of $65.23 million increased by 2.7 percent; Metal Components (excluding brakes and servo  brakes) with proceeds billed at $51.17 million fell by 2.8 percent; Bananas (fresh) with sales amounting to $27.36 million rose by 21.1 percent; and Sugar with export revenue of $22.07 million accelerated by 149.8 percent, the highest year-on-year positive growth among the top ten exports in October 2009. 

Total receipts from the top ten exports reached $2.812 billion, or 76.8 percent of the total exports.

Fig. 1  Philippine Top Five Exports: October 2009 and 2008
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS STOOD AT $3.119 BILLION

Accounting for 85.2 percent of the total receipts, outward shipments of Manufactured Goods in October 2009 reached $3.119 billion or a 6.8 percent decrease from $3.347 billion recorded in the same period a year earlier. Likewise, it went down  by 2.1 percent from $3.185 billion recorded in September 2009.  

Income from Total Agro-Based Products comprising 5.9 percent of the total exports revenue in October 2009 plummeted by 7.5 percent from $232.65 million in October 2008 to $215.12 million.

Earnings from Mineral Products with a share of 5.0 percent in October 2009 reached $181.74 million, reflecting a 13.5 percent decline from $210.06 million in October 2008.  More so, export receipts fromSpecial Transactions with a share of 3.5 percent dropped by 3.0 percent from $133.66 million to $129.68 million in October 2008.

Exports revenue of Petroleum Products with 0.4 percent share of the total exports decelerated by 80.2 percent from $64.92 million in October  2008 to $12.84 million. However, Forest Products with 0.1 percent share of the total exports expanded by 4.2 percent to $1.72 million from $1.65 million registered in October 2008.

Fig. 2  Philippine Exports by Commodity Group: October 2009 and 2008
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES ACCOUNTED FOR 18.1 PERCENT

United States of America (USA) including Alaska and Hawaii, comprising 18.1 percent of the total exports for October 2009, emerged as the countrys top destination of exports for October 2009 with revenue amounting to $660.48 million. It was lower by 5.3 percent from $697.73 million recorded a year earlier.

Japan including Okinawa, followed as the second top market of the country for October 2009 with export earnings of $598.86 million or 16.4 percent share of the total exports. The amount declined by 4.8 percent from $629.28 million reported in October 2008.

Netherlands came in third with shipments amounting to $477.91 million and representing 13.1 percent of the total exports. The amount went up by 29.7 percent from its year ago level of $368.46 million.

Germany ranked fourth in October 2009 with $272.62 million or 7.5 percent of the total exports, increased by 40.4 percent from $194.12 million recorded in October 2008.

Fifth in rank and accounting for 7.4 percent share from the total exports was Hong Kong with revenue amounting to $269.19 million or a year-on-year decrease of 29.5 percent from $381.71 million.

Other top ten markets for October 2009 were Singapore, $212.84 million; Peoples Republic ofChina, $209.85 million; Republic of Korea, $192.50 million; Thailand, $135.68 million; and Malaysia, $113.60 million.

Total export receipts from RPs top ten markets for the month of October 2009 amounted to $3.144 billion or 85.9 percent of the total.

                                  Fig. 3  Philippine Top Exports by Country: October 2009
                                                   (F.O.B. Value in Million US Dollars)

EXPORTS FROM EASTERN ASIA WORTH $1.368 BILLION

Philippines total exports in October 2009 with Eastern Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 37.4 percent of the countys total exports. It amounted to $1.368 billion or a negative annual growth of 24.9 percent  from October  2008 level of $1.822 billion.

Exports to European Union (EU) in October 2009 representing 24.7 percent share to the total exports in October 2009, increased by 23.0 percent year-on-year to $904.33 million from $735.11 million in October 2008.

Total exports to ASEAN member-countries with 14.8 percent share in October 2009 grew by 5.3 percent to $541.98 million in October 2009 from $514.62 million in October 2008.

Fig. 4  Philippine Exports by Selected Economic Bloc in October: 2009
(F.O.B. Value in Million US Dollars)

Technical Note:

Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999).  This is in compliance with   NSCB   Resolution No. 03, Series of 2005 entitled Approving and Adopting the 2004 Philippine Standard Commodity Classification by all concerned government agencies and instrumentalities.

Source:    Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines