Merchandise exports move up by 2.3 percent

Registered earnings for September 2003 grew by 2.3 percent to $3.264 billion from $3.191 billion during the same month a year earlier.

Receipts from merchandise exports for January to September 2003 rose by 0.4 percent to $26.267 billion from $26.158 billion during the same period last year.

Electronic products increase by 0.9 percent

Electronic products, accounting for 66.2 percent of the aggregate export revenue for the month, registered an increase of 0.9 percent to $2.162 billion from $2.143 billion last year. Among the major groups of electronic products,components/devices (Semiconductors) dominate the groupings with 48.1 percent share to total exports. Similarly, it gained by 3.1 percent to $1.570 billion from $1.524 billion during the same period a year earlier.

Articles of apparel and clothing accessories remained as the countrys second top earner with a combined share of 6.5 percent and an aggregate receipt of $212.5 million or 18.1 percent lower than $259.4 million a year ago.

Other products manufactured from materials imported on consignments basis, ranked third with total revenue of $62.55 million reflecting an 18.1 percent increase from $53.0 million during the same period of 2002.

Petroleum products ranked fourth with sales amounting to $46.56 million or a year-on-year increase of 49.4 percent from $31.16 million.

Revenue from ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles) increased by 4.6 percent to $43.26 million from $41.35 million.

Rounding-up the list of the top exports for the month of September 2003 were: coconut Oil, $37.40 million; cathodes & sections of cathodes, of refined copper, $36.50 million; woodcrafts and furniture, $32.60 million;bananas (fresh), $28.28 million; and metal components, $21.07 million.

Aggregate receipt for the top ten exports reached $2.683 billion, or 82.2 percent of the total exports.

Fig. 1. Philippine Top Exports: September: 2002 and 2003
(F.O.B. Value in Million US Dollars)

 Manufactured goods inch up by 1.2 percent

Accounting for 88.2 percent of the total receipts, exports of manufactured goods accelerated by 1.2 percent as sales amounted to $2.878 billion, from $2.842 billion during the same period last year.

Income from all agro-based products, combined for $144.02 million or 4.4 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group dropped by 3.7 percent from $149.56 million.

Special transactions increased by 13.2 percent to $132.16 million from $116.76 million, while receipt from exports of mineral products went up by 21.7 percent to $61.27 million from $50.34 million.

Petroleum products contributed $46.56 million, while forest productsregistered earnings of $2.29 million dollars.

Fig. 2. Philippine Exports by Commodity Group: September: 2002 and 2003
(F.O.B. Value in Million US Dollars)
 
 

Exports to U.S. account for 19.2 percent

Accounting for 19.2 percent of the countrys aggregate receipts for the month, exports to the United States valued at $627.73 million, fell by 24.9 percent from last year's reported figure of $835.38 million.

Japan followed with a 15.0 percent share. Valued at $490.02 million, exports to Japan went up by 12.2 percent from $436.71 million.

Hong Kong accounted for 9.5 percent of the total receipts, with $310.78 million reflecting a 20.4 percent increase from $258.22 million during the same month a year earlier.

Peoples Republic of China, emerged as the fourth biggest market for the month as shipments of local goods amounted to $278.63 million or 8.5 percent of the total. Compared to the same period last year, receipts grew by 71.8 percent from $162.17 million. Other top markets for September 2003 were: Netherlands, $269.12 million; Singapore, $224.01 million; Malaysia,$213.35 million; Taiwan, $180.99 million; Republic of Korea, $118.42 million; and Thailand, $106.65 million.

Total export receipts from RPs top ten markets for the month of September amounted to $2.820 billion or 86.4 percent of the total.

Fig. 3. Philippine Top Exports by Country: September 2003
(F.O.B. Value in Million US Dollars)

Source:    Economic Indices and Indicators Division
                  Industry and Trade Statistics Department
                  National Statistics Office
                  Manila, Philippines