MERCHANDISE EXPORTS PERFORMANCE
OCTOBER 2015
(Preliminary)
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October
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2015 p |
2014 r |
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TOTAL EXPORTS FOB Value in Million US Dollars Year-on-Year Growth (Percent) Electronic Products FOB Value in Million US Dollars Year-on-Year Growth (Percent) |
4,590.26 -10.8
2,388.27 7.3 |
5,148.21 2.4
2,226.75 4.5 |
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Top 10 Philippine Exports to All Countries: October 2015 p
(Year-on-Year Growth in Percent)
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Gainers |
Losers |
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Woodcrafts and Furniture
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43.2 |
Articles of Apparel and Clothing Accessories
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-53.6 |
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Electronic Products
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7.3 |
Other Mineral Products
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-50.2 |
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Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
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5.1 |
Chemicals
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-40.3 |
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Metal Components
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-35.9 | |
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Coconut Oil
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-31.2 | |
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Other Manufactures
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-30.0 | ||
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Machinery and Transport Equipment
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-18.0 | ||
EXPORTED GOODS IN OCTOBER 2015 DECREASES BY 10.8 PERCENT
The Philippines’ export sales totaled $4.590 billion in October 2015, a 10.8 percent decrease from $5.148 billion recorded value in October of 2014. The negative growth was mainly brought about by the decreases in seven major commodities out of the top ten commodities for the month. These include articles of apparel and clothing accessories (-53.6%), other mineral products (-50.2%), chemicals (-40.3%), metal components (-35.9%), coconut oil (-31.2%), other manufactures (-30.0%), and machinery & transport equipment (-18.0%).
On the other hand, merchandise exports for the ten-month period of 2015 registered a 6.2 percent drop, that is from $52.124 billion in 2014 to $48.871 billion in same period of 2015 (Table 1a).
ELECTRONIC PRODUCTS INCREASES BY 7.3 PERCENT
Electronic Products remained as the country’s top export with total receipts of $2.388 billion, accounting for 52.0 percent of the total exports revenue in October 2015. It increased by 7.3 percent from $2.227 billion registered in October 2014. Components/Devices (Semiconductors), having the biggest share of 37.1 percent among electronic products, grew by 11.7 percent to $1.704 billion in October 2015 from $1.526 billion in October 2014.
Other Manufactures, with 7.2 percent share to the total export receipts, ranked second with value posted at $331.12 million. It recorded a decrease of 30.0 percent from October 2014 value of $473.06 million.
Machinery and Transport Equipment, the third top export earner in October 2015 with export revenue of $303.56 million, went down by 18.0 percent from $370.10 million in October 2014.
Woodcrafts and Furniture ranked fourth, with sales amounting to $284.36 million in October 2015, contributing 6.2 percent share to the total export receipts. It registered a 43.2 percent increase from the previous year level of $198.61 million.
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships was recorded as the country’s fifth top export earner with value at value at $172.71 million or 3.8 percent share to total exports. It went up by 5.1 percent from $164.28 million in same period of 2014.
Rounding up the list of the top ten exports for the month of October 2015 were:
- Chemicals with export earnings of $110.22 million, decelerated by 40.3 percent;
- Coconut Oil with export receipts of $95.73 million, dropped by 31.2 percent;
- Metal Components with proceeds billed at $79.31 million, declined by 35.9 percent;
- Other Mineral Products with export receipts of $74.25 million, fell by 50.2 percent; and
- Articles of Apparel and Clothing Accessories with total receipts of $70.30 million, decreased by 53.6 percent.
Total receipts from the top ten exports reached $3.910 billion, or 85.2 percent of the total exports.
EXPORTS OF MANUFACTURED GOODS WENT DOWN BY 5.1 PERCENT
Outward shipments of Manufactured Goods were valued at $4.061 billion, accounting for 88.5 percent of the total export receipts in October 2015. It went down by 5.1 percent from $4.278 billion recorded in October 2014 (Table 2).
Exports from Total Agro-Based Products, with a share of 5.8 percent in October 2015, amounted to $264.50 million. It dropped by 29.8 percent from $376.62 million in October 2014.
Mineral Products with a 3.3 percent share, decreased by 56.1 percent from $343.87 million in October 2014 to $150.86 million in October 2015.
Merchandise exports from Special Transactions, sharing 1.9 percent of the total exports revenue, decreased by 1.1 percent from $89.86 million in October 2014 to $88.90 million in October 2015.
Petroleum Products, with 0.5 percent share, declined by 57.9 percent from $54.37 million in October 2014 to $22.87 million in the same month in 2015.
Moreover, sales from Forest Products, accounting for 0.1 percent share of the total exports, decreased by 54.4 percent from $5.38 million in October 2014 to $2.45 million reported value in same period of 2015.
JAPAN ACCOUNTS FOR 22.6 PERCENT TO TOTAL EXPORTS IN OCTOBER 2015
Total export receipts from the country’s top ten market destinations for the month of October 2015 was valued at $3.829 billion or 83.4 percent of the total (Table 3).
Japan including Okinawa remained as the country’s top export destination with revenue amounting to $1.036 billion, comprising 22.6 percent share to total exports for October 2015. It decreased by 7.7 percent from $1.123 billion recorded in the same month a year ago.
United States of America (USA) including Alaska and Hawaii ranked second, accounting 14.7 percent to total exports, with export receipts valued at $675.35 million in October 2015. It recorded a decline of 13.1 percent from $777.56 million in same month last year.
Hong Kong ranked third with $497.71 million or 10.8 percent share of the total exports. It dropped by 4.3 percent from $519.99 million in the same month year ago level.
People’s Republic of China with 9.3 percent share to total exports, ranked fourth with shipments valued at $426.88 million. It went down by 31.6 percent from $623.77 million in same month a year ago.
Singapore placed fifth, representing a 7.4 percent share to total exports, with export earnings worth $338.49 million. It declined by 8.9 percent from $371.74 million posted in October 2014.
Other top ten market destinations for October 2015 were: Germany, $203.13 million; Republic of Korea, $174.55 million; Thailand, $174.28 million; Taiwan, $160.90 million; and Netherlands, $141.03 million.
MORE THAN HALF (50.2%) OF EXPORTS WERE FROM COUNTRIES IN EAST ASIA
Majority of the country’s merchandise exports in October 2015 were from countries in East Asia accounting for 50.2 percent share to total exports value at $2.303 billion. It decreased by 12.5 percent from $2.632 billion of October 2014 figure.
Commodities exported to ASEAN member countries comprised 16.1 percent of the total exports in October 2015 and was valued at $738.11 million. This registered a decrease of 5.0 percent from $776.85 million posted in same month a year ago.
Exports to European Union member countries, with 13.0 percent share to total merchandise exports amounted to $596.58 million. It dropped by 1.3 percent from $604.49 million recorded in October 2014 (Table 3a).
Technical Notes
Export trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export declarations filed with Bureau of Customs (BOC) by exporters or their authorized representatives as required by law. PSA collects a copy of the accomplished form by the exporter for manual filling-up, which is the Export Declaration (ED – DTI form). Aside from the hard copy ED, the output of the Automated Export Documentation System (AEDS) is being utilized to generate export statistics. AEDS is a paperless transaction that is in lieu of the manual filling-up of export documents. The digitized copy is provided by BOC and PEZA to PSA on a monthly basis through email.
All documents (hard copies and e-files) received before the cut-off date, which is every 25th day of the month, are compiled, processed and included in the statistical tables for the preparation of Press Release. Processing includes coding, editing, review and validation. However, all documents with transaction FOB value less $25 US dollars are considered out-of-scope and excluded in the generation of tables. Export Performance Press Release is due every 10th day of the each month.
The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the exported commodities at the most detailed level for statistical purposes.
All copies received after the cut-off date are processed and included in the generation of the revised statistical tables. Revised Statistical tables are made available 10 to 15 working days after the press release date.
(Sgd. ) LISA GRACE S. BERSALES, Ph. D.
National Statistician
