9-Month Merchandise Exports Post 23.0 Percent Growth

Total dollar earnings from merchandise exports moved up to $18.362 billion from January to September 1997, increasing by 23.0 percent from $14.926 billion in January to September 1996.

Export receipts for September 1997 alone, rose by 24.6 percent to $2.337 billion from $1.876 billion during the same month in 1996. Compared to August, a 3.5 percent increase valued at $2.258 billion was likewise recorded.

Electronics and Components Still Top Dollar Earner

Electronics and Components kept its hold of the top slot among RP's major exports as it posted a 41.3 percent increase in earnings to $1,086.99 million from $769.13 million last year. The amount accounted for 46.5 percent of the total exports for September 1997.

Articles of Apparel and Clothing Accessories remained at the second spot with payments valued at $220.14 million, 7.6 percent higher than $204.54 million a year back.. Exports from this commodity accounted for 9.4 percent of the total exports.

Earnings from Input/Ouput/Peripheral Units reached $137.30 million, up by 114.4 percent as against the $64.03 million recorded in 1996. This commodity group represented 5.9 percent share of the total.

Coconut Oil bounced to fourth place from the sixth slot with receipts valued at $49.82 million, or a 12.6 percent growth from $44.26 million a year earlier. Compared to the previous month's output of $72.30 million, RP's top agricultural export fell by 31.1 percent.

Ignition Wiring Set & Other Wiring Sets Used in Vehicles, Aircrafts and Ships slid to fifth position from the fourth slot last year with export receipts pegged at $48.47 million or 3.6 percent lower than 1996's $50.27 million.

Other Products Manufactured from Materials Imported on Consignment Basis emerged as the sixth top dollar earner and contributed $34.80 million despite a 21.4 percent decrease over $44.27 million in 1996.

Other top exports were: Woodcraft and Furniture, $34.77 million; Metal Components, $29.42 million; Gold, $20.62 million; and Bananas (fresh), $16.66 million.

Aggregate dollar earnings from shipments of the top ten exports amounted to $1,678.99 million or 71.8 percent of the total exports.

Manufactured Goods Exports Rise by 24.2 Percent

Exports of Manufactured Goods for September 1997, accounting for 85.9 percent of the aggregate earnings for the month, posted a 24.2 percent increase as actual receipts amounted to $2,007.24 million or $390.91 million higher than $1,616.33 million in September 1996.

Combined value of Agro-Based and Other Agro-Based Products made up the second biggest commodity group representing 6.2 percent of the total value. Export receipts grew by 4.5 percent to $145.69 million from $139.41 million last year.

Other major export commodity groups were: Special Transactions, $118.05 million; Mineral Products, $46.87 million; Petroleum Products, $16.01 million; and, Forest Products, $3.29 million.

US Remains as RP's Top Market

Merchandise exports to the United States, which accounted for 35.7 percent of the total, went up by 30.9 percent to $835.07 million from $638.00 million last year.

Purchases made by Japan, the second biggest market with 16.1 percent share, amounted to $375.68 million or an increase of 3.8 percent over last year's level of $361.93 million.

Value of exports to Hongkong rose by 155.4 percent to $161.73 million from $63.32 million in 1996. This value represented 6.9 percent of the country's merchandise exports for the reference month.

Shipments to Singapore valued at $140.75 million, or up by 48.5 percent over $94.79 million in 1996. RP's goods to Singapore market made up 6.0 percent of the country's total export.

Completing the list of the top markets for September 1997 were: Netherlands, $123.32 million; Taiwan, $122.76 million; United Kingdom of Great Britain, $119.77 million; Germany, $89.98 million; Malaysia, $59.74 million; and, Thailand, $57.44 million.

Earnings from the Philippines' top ten export markets amounted to $2,086.24 million, or 89.3 percent of the total earnings for September 1997.