MERCHANDISE EXPORT PERFORMANCE *
October 2010
( Preliminary )
* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised
MERCHANDISE EXPORTS FOR OCTOBER 2010 UP BY 26.4 PERCENT
The Philippine's total earnings for merchandise export in October 2010 amounted to $4.739 billion, higher by 26.4 percent from it's year ago level of $3.748 billion. Compared to previous month level, receipts from merchandise exports declined by 11.0 percent from $5.325 billion posted in September 2010. Meanwhile, aggregate merchandise exports for the 10-month period in 2010 increased by 37.1 percent to $43.047 billion from $31.397 billion recorded from January to October 2009.
ELECTRONIC PRODUCTS INCREASED BY 38.2 PERCENT
Accounting for 63.0 percent of the total export revenue in October 2010, Electronic Products was the country�s top export with total receipts of $2.987 billion. It improved by 38.2 percent from $2.162 billion registered in October 2009. Components/Devices (Semiconductors) which comprised 50.0 percent of the total exports, had the biggest share from among the major groups of electronic products with export earnings amounting to $2.369 billion or an annual growth of 63.8 percent. On a monthly basis, Electronic Products, however, decreased by 14.1 percent from $3.478 billion posted in September 2010.
Articles of Apparel and Clothing Accessories followed as the second top earner in October 2010 with total export receipts of $145.13 million or a share of 3.1 percent to the total exports revenue. It grew by 24.6 percent from $116.44 million recorded in October 2009.
Coconut Oil (including crude and refined) which comprised 3.0 percent share of total exports in October 2010 emerged as RP�s third top gainer with revenue valued at $140.48 million, an increase of 81.8 percent from $77.29 million recorded during the same month in 2009 and registering the highest annual growth among the top ten exports.
Ranked fourth in October 2010 and contributing 2.5 percent to the total export receipts was Woodcrafts and Furniture with revenue amounting to $118.26 million. This value was up by 29.3 percent from its year ago level of $91.46 million.
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisting only of electrical wiring harness for motor vehicles) with 2.1 percent share to the total export receipts ranked fifth with value posted at $100.29 million or a 14.9 percent increase from $87.27 million registered in October 2009.
Rounding up the list of the top ten exports for the month of October 2010 were Other Products Manufactured from Materials Imported on Consignment Basis with export revenue of $96.53 million increased by 47.9 percent; Metal Components (excluding brakes and servo � brakes) with export earnings of $81.12 million accelerated by 59.2 percent; Cathodes & Sections of Cathodes of Refined Copper with export receipts of $62.35 million contracted by 44.5 percent; Tuna (including fresh, frozen, prepared or preserved in airtight containers) recorded sales amounting to $25.47 million expanded by 28.8 percent; and Bananas (fresh) with proceeds billed at $25.19 million lowered by 39.1 percent.
Total receipts from the top ten exports reached $3.782 billion, or 79.8 percent of the total exports.
Fig. 1 Philippine Top Five Exports: October 2010 and 2009
(F.O.B. Value in Million US Dollars)
EXPORTS OF MANUFACTURED GOODS STOOD AT $4.197 BILLION
Accounting for 88.6 percent of the total export receipts, outward shipments of Manufactured Goods in October 2010 reached $4.197 billion or a 31.8 percent increase from $3.186 billion recorded in the same period a year earlier. Month-on-month, it went down by 11.0 percent from $4.716 billion recorded in September 2010.
Income from Total Agro-Based Products comprising 6.0 percent of the total exports revenue in October 2010 expanded by 22.2 percent to $281.82 million from $230.59 million in October 2009. Compared to its previous month level, it was higher by 16.6 percent from $241.62 million recorded in September 2010.
Earnings from Mineral Products with a share of 2.7 percent in October 2010 reached $128.98 million. It declined by 29.0 percent from $181.57 million in October 2009. Similarly, export receipts from Special Transactions reflecting 2.3 percent share was lower by 15.0 percent from $129.78 million in October 2009 to $110.27 million in October 2010.
Petroleum Products accounting for 0.4 percent share of the total exports revenue grew by 0.4 percent to $18.92 million from $18.84 million in October 2009. Forest Products with 0.03 percent share of the total exports on the other hand, exhibited negative growth of 6.6 percent from $1.72 million in October 2009 to $1.60 million in October 2010.
Fig. 2 Philippine Exports by Commodity Group: October 2010 and 2009
(F.O.B. Value in Million US Dollars)
EXPORTS TO SINGAPORE ACCOUNTED FOR 18.2 PERCENT
Singapore comprising 18.2 percent of the total exports for October 2010 emerged as the country�s top destination of exports for October 2010 with revenue amounting to $860.59 million. It was higher by 298.1 percent from $216.20 million recorded a year ago.
Japan including Okinawa followed as the second top market of the country for October 2010 with export earnings of $762.39 million or 16.1 percent share of the total exports. The amount increased by 25.5 percent from $607.61 million reported a year earlier.
United States of America (USA) including Alaska and Hawaii representing a 14.7 percent of the total exports came in third with shipments amounting to $696.55 million. Compared to its October 2009 level, the amount increased by 5.4 percent from $660.99 million.
People�s Republic of China ranked fourth in October 2010 with $558.12 million or 11.8 percent share of the total exports, expanded by 165.7 percent from it�s October 2009 level of $210.06 million.
Fifth in rank and accounting for 7.4 percent share of the total exports was Hong Kong with export earnings worth 351.43 million or an increase of 30.6 percent from $269.14 million posted in October 2009.
Other top ten markets for October 2010 were Thailand, $186.39 million; Netherlands, $161.76 million; Germany, $155.36 million; Taiwan, $150.47 million; and Republic of Korea, $137.00 million.
Total export receipts from RP�s top ten markets for the month of October 2010 amounted to $4.020 billion or 84.8 percent of the total.
Fig. 3 Philippine Top Exports by Country: October 2010
(F.O.B. Value in Million US Dollars)
EXPORTS FROM EASTERN ASIA WORTH $1.961 BILLION
The Philippines� merchandise exports to Eastern Asia in October 2010 accounted for 41.4 percent of the county�s total exports. It amounted to $1.961 billion or an increase of 42.3 percent from it�s October 2009 level of $1.378 billion.
Meanwhile, exports to ASEAN member-countries representing 25.8 percent share of the Philippines� total merchandise exports in October 2010 worth $1.222 billion, an annual positive growth of 120.7 percent from $553.92 million recorded in October 2009.
On the other hand, October 2010 total exports to European Union (EU) comprising 11.0 percent contribution to total exports were valued at $522.58 million. The value declined by 45.9 percent from $965.81 million registered in October 2009.
Fig. 4 Philippine Exports by Selected Economic Bloc: October 2010 & 2009
(F.O.B. Value in Million US Dollars)
Notes:
1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam
3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland
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.
(Sgd.) CARMELITA N. ERICTA
Administrator
Source: Foreign Trade Statistics Section
Industry and Trade Statistics Department
National Statistics Office
Manila, Philippines
