* Including transactions that passed through the Automated Export Documentation System (AEDS). 
p - preliminary 
r - revised

SEPTEMBER 2007 MERCHANDISE EXPORTS UP BY 4.7 PERCENT

Export earnings in September 2007 went up by 4.7 percent to $4.374 billion from $4.178 billion in September 2006.  Compared to the previous months level, receipts likewise grew by 6.6 percent from P4.104 billion.

Albeit at a slower pace, merchandise exports during January to September posted an increase of 4.9 percent to $37.203 billion from $35.481 billion during the same nine-month period in 2006.

ELECTRONIC PRODUCTS DECREASE BY 0.2 PERCENT

Accounting for 60.7 percent of the aggregate export revenue in September, Electronic Productsdecreased by 0.2 percent to $2.656 billion from $2.661 billion in September 2006.  However, compared with the previous months level, an increase of 2.5 percent from P2.592 billion was noted. The year-on-year decline is due to the decrease in the outward shipments of electronic data processing and telecommunication.

Articles of Apparel and Clothing Accessories is still the countrys second top earner with a combined share of 4.4 percent and an aggregate receipt of $193.03 million or 16.8 percent lower than $232.02 million in September 2006.

Cathodes and Section of Cathodes of Refined Copper ranked third with total revenue of $126.79 million, an increase of 28.4 percent from $98.75 million in September 2006.

Woodcrafts and Furniture ranked fourth with sales amounting to $88.92 million or a growth of 33.2 percent from $66.76 million in September 2006. 

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships(consisted only of electrical wiring harness for motor vehicles) ranked fifth with export receipts of $85.87 million or a year-on-year growth of 15.9 percent from $74.12 million in September 2006.

Rounding up the list of the top exports for the month of September 2007 were Petroleum Products, with export revenue of $76.71 million or 31.6 percent decline from the same month in 2006; Coconut Oil, $62.75 million or a growth of 67.2 percent; Other Products Manufactured from Materials Imported on Consignment Basis, $57.69 million or a decrease of 32.5 percent; Metal Components with proceeds billed at $42.68 million or a growth of 8.0 percent; and Bananas (Fresh), $35.67 million or a growth of 16.8 percent. 

Total receipts from the top ten exports reached $3.426 billion, or 78.3 percent of the total exports.

Fig. 1  Philippine Top Exports: September  2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS UP BY 3.8 PERCENT

Accounting for 85.8 percent of the total receipts, export of Manufactured Goods was $3.751 billion, or 3.8 percent growth from $3.612 billion in September 2006.  

All Agro-Based Products with a 4.6 percent share of the total export receipts generated a combined income of $201.03 million, up by 25.2 percent from $160.57 million in September 2006.  This is due to the increase in the shipments of coconut oil.

Earnings from Mineral Products reached $227.73 million or 5.2 percent share of the total export revenue, recording an 18.6 percent surge from $191.99 million in September 2006.  This is due to the increase in the outward shipments of copper metal.

Petroleum Products, on the other hand, declined by 31.6 percent to $76.71 million from $112.16 million in September 2006. 

Export receipts of Special Transactions posted an increase of 16.0 percent to $115.29 million from $99.42 million in September 2006.

Meanwhile, exports revenue of Forest Products slightly grew by 0.4 percent to $2.20 million from $2.19 million in September 2006.

Fig. 2  Philippine Exports by Commodity Group: September 2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES ACCOUNT FOR 17.0 PERCENT

Accounting for 17.0 percent of the countrys aggregate income for the month, United States of America (USA) is still the top market of the country for September with export receipts of $741.88 million, or a decline of 10.4 percent from $827.72 million in September 2006.

Despite a decline of 3.6 percent to $625.58 million from $648.79 million in September 2006,Japan continued to be the second top market for the month with a 14.3 percent share of the total exports.

Hong Kong emerged as the third biggest market for the month with shipments amounting to $598.55 million or 13.7 percent of the total, up by 67.2 percent from its year-ago level of $357.92 million.

Peoples Republic of China ranked fourth with $464.85 million or 10.6 percent of the total revenue, up by 10.2 percent from $421.68 million in September 2006.

Other top markets for September 2007 were Netherlands, $335.36 million; Singapore, $242.35 million; Malaysia, $235.39 million; Germany, $176.35 million; Republic of Korea, $170.30 million; and Taiwan, $144.28 million.

Total export receipts from RPs top ten markets for the month of September 2007 amounted to $3.735 billion or 85.4 percent of the total.

          Fig. 3  Philippine Exports by Top Markets : September 2007
   (F.O.B. Value in Million US Dollars)

Technical Note:

Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings.  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.

Source:    Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines