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

SEPTEMBER 2008 MERCHANDISE EXkPORTS UP BY 1.2 PERCENT

Export earnings in September 2008 slightly increased by 1.2 percent to $4.440 billion from $4.389 billion in September 2007.  The same is true with the previous month’s level, where an increase of 1.1 percent was noted from $4.393 billion.

ELECTRONIC PRODUCTS DOWN BY 2.7 PERCENT

Accounting for 58.4 percent of the aggregate export revenue in September 2008, Electronic Products posted a decline of 2.7 percent to $2.592 billion from $2.663 billion in September 2007.  However, compared with the previous month's level, an increase of 2.4 percent was observed from $2.531 billion recorded in August 2008.

Articles of Apparel and Clothing Accessories remained the country’s second top earner in September 2008 with a combined share of 4.1 percent and an aggregate receipt of $181.22 million or 5.9 percent lower than the $192.67 million in September 2007.   

Cathodes and Sections of Cathodes of Refined Copper followed as the third top earner in September 2008 with total revenue of $178.05 million or a share of 4.0 percent, up by 40.4 percent from $126.79 million in September 2007.

Petroleum Products, ranked fourth in September 2008 with sales amounting to $155.39 million or a growth of 102.6 percent from $76.7 million in September 2007.

Woodcrafts and Furniture, ranked fifth with export receipts of $101.39 million or an annual increase of 14.4 percent from $88.66 million in September 2007.

Rounding up the list of the top ten exports for the month of September 2008 were  Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles) with receipts of $73.11 million down by 15.0 percent; Coconut Oil valued at $54.69 million or a decline of 12.9 percent; Other Products Manufactured from Materials Imported on Consignment Basis with proceeds billed at $50.16 million down by 21.1 percent; Metal Components with receipts of $48.05 million up by 11.3 percent;  and Tuna  with export revenue of $40.95 million, up by 113.1 percent from September 2007 level . 

Total receipts from the top ten exports reached $3.475 billion, or 78.3 percent of the total exports.

Fig. 1  Philippine Top Five Exports: September 2008 and 2007
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS STANDS AT $3.670 BILLION

Accounting for 82.7 percent of the total receipts, export of Manufactured Goods in September 2008 was $3.670 billion down by 2.6 percent from $3.767 billion in September 2007.  

Income from All Agro-Based Products in September 2008 reached $210.84 million or 4.8 percent share of the total export revenue, increased by 5.0 percent from $200.75 million in September 2007.  This is due to the increase in the exportation of tuna.

Earnings from Mineral Products in September 2008 reached $268.60 million or 6.1 percent share of the total export revenue, rose by 17.9 percent from $227.74 million in September 2007.

Receipts from Petroleum Products in September 2008 totaled to $155.39 million or 3.5 percent share of the total export revenue, up by 102.6 percent from $76.70 million in September 2007.

Export receipts from Special Transactions with a share of 3.0 percent increased by 15.0 percent to $132.78 million from $115.45 million in September 2007.  Similarly, exports revenue of Forest Products rose by 4.9 percent to $2.31 million from $2.20 million recorded in September 2007.

Fig. 2  Philippine Exports by Commodity Group: September 2008 and 2007
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES OF AMERICA ACCOUNT FOR 18.2 PERCENT

United States of America (USA) was the top market of the country for September 2008 with export receipts of $806.99 million, accounting for 18.2 percent of the country’s aggregate income for the month, up by 8.9 percent from $741.35 million in September 2007.

Japan followed as the second top market of the country for September 2008 with export earnings of $640.63 million or 14.4 percent share of the total exports, increased by 2.4 percent from $625.47 million in September 2007.

People’s Republic of China emerged as the third biggest market for September 2008 with shipments amounting to $490.81 million or 11.1 percent of the total exports, rose by 5.6 percent from a year ago level of $464.91 million.

Hong Kong ranked fourth in September 2008 with $438.19 million or 9.9 percent of the total exports fell by 26.8 percent from $598.55 million in September 2007.

Other top ten markets for September 2008 were Netherlands, $342.63 million; Singapore, $259.03 million; Republic of Korea, $253.69 million; Taiwan, $188.79 million; Germany, $175.99 million; and Malaysia, $175.57 million.

Total export receipts from RP’s top ten markets for the month of September 2008 amounted to $3.772 billion or 85.0 percent of the total.

Fig. 3  Philippine Top Exports by Country: September 2008
                 (F.O.B. Value in Million US Dollars)

Technical Note:

Starting on January 2007 Press Release, analysis and tables are based on 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999).  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