Merchandise Export Performance : September 2002

Reference Number: 

2002-185

Release Date: 

Monday, November 4, 2002

 

MERCHANDISE EXPORTS REGISTERED 16.8 PERCENT INCREASE

For September 2002, reported earnings went up by 16.8 percent to $3.190 billion from $2.731 billion during the same month a year earlier.

Receipts from merchandise exports for January to September 2002 increased by 8.8 percent to $26.039 billion from $23.934 billion during the same period in 2001.

ELECTRONIC COMPONENTS INCREASED BY 17.0 PERCENT

Receipts from Electronic Components, accounting for 53.0 percent of the aggregate export revenue for the month, gained by 17.0 percent to $1.690 billion from $1.445 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 8.1 percent and an aggregate receipt of $257.62 million or 39.4 percent higher than $184.82 million a year ago.

Other Products Manufactured from Materials Imported on Consignments Basis, ranked third with a total revenue of $50.51 million reflecting a 21.3 percent increase from $41.64 million last year.

Coconut Oil ranked fourth with sales amounting to $45.46 million, a year-on-year growth of 75.8 percent from $25.87 million.

Revenue from Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, decreased by 12.9 percent to $40.44 million from $46.42 million during the same month of 2001.

Rounding-up the list of the top exports for the month of September 2002 were: Woodcrafts and Furniture, $38.01 million; Metal Components, $36.96 million; Petroleum Products, $31.30 million; Bananas (Fresh), $23.89 million; and Gold, $16.78 million.

Aggregate receipt for the top ten exports amounted to $2.231 billion, or 69.9 percent of the total exports.

Fig. 1. Philippine Top Exports in September: 2001 & 2002
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS INCREASED BY 17.1 PERCENT

Accounting for 88.6 percent of the total receipts, exports of Manufactured Goods grew by 17.1 percent as sales reached $2.827 billion, from $2.415 billion during the same period a year ago.

Income from Agro-Based Products, combined for $155.06 million or 4.9 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group went up by 28.7 percent from $120.46 million.

Special Transactions decreased by 6.0 percent to $124.48 million from $132.45 million, while receipt from exports of Mineral Products gained by 23.0 percent to $50.28 million from $40.89 million.

Petroleum Products posted $31.30 million, while Forest Products registered $2.19 million dollars worth of exports.

Fig. 2. Philippine Exports by Commodity Group in September: 2001 & 2002
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 26.1 PERCENT

Payments from the United States was 26.1 percent of the country's aggregate export receipts for the month. Valued at $833.54 million, it rose by 5.5 percent from last year's reported figure of $790.01 million.

Japan followed with a 13.7 percent share. Valued at $436.90 million, exports to Japan increased by 11.2 percent from $393.02 million.

Netherlands accounted for 9.3 percent of the total receipts at $297.97 million, up by 6.1 percent from $280.73 million a year ago.

Hongkong emerged as the fourth biggest market for the month as shipments of local goods amounted to $257.27 million or 8.1 percent of the total. Compared to the same month last year figure, receipts went up by 86.4 percent from $138.03 million. Other top markets for September 2002 were: Singapore, $202.70 million; Taiwan, $199.08 million; People's Republic of China, $162.07 million; Malaysia, $146.94 million; Republic of Korea, $117.63 million; and Germany, $107.72 million.

Total export receipts from RP's top ten markets amounted to $2.762 billion or 86.6 percent of the total.

Fig. 3. Philippine Top Exports by Country in September, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
             Manila, Philippines

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