MERCHANDISE EXPORTS PERFORMANCE
SEPTEMBER 2015
(Preliminary)
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September
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2015 p |
2014 r |
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TOTAL EXPORTS FOB Value in Million US Dollars Year-on-Year Growth (Percent) Electronic Products FOB Value in Million US Dollars Year-on-Year Growth (Percent) |
4,404.72 -24.7
2,392.71 -2.1 |
5,846.06 10.4
2,277.18 9.7 |
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Top 10 Philippine Exports to All Countries: September 2015 p
(Year-on-Year Growth in Percent)
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Gainers |
Losers |
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Woodcrafts and Furniture
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22.0 |
Chemicals
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-85.5 |
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Machinery and Transport Equipment
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11.1 |
Other Mineral Products
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-72.8 |
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Other Manufactures
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-66.1 | |
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Metal Components
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-55.8 | |
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Articles of Apparel and Clothing Accessories
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-45.4 | |
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Coconut Oil
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-38.4 | ||
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Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
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-2.7 | ||
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Electronic Products
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-2.1 | ||
EXPORTED GOODS IN SEPTEMBER 2015 DECREASED BY 24.7 PERCENT
The Philippines’ export sales totaled $4.405 billion in September 2015, a 24.7 percent decrease from $5.846 billion recorded value in September of 2014. The negative growth was mainly brought about by the decreases in eight major commodities out of the top ten commodities for the month. These include chemicals (-85.5%); other mineral products (-72.8%); other manufactures (-66.1%); metal components (-55.8%); articles of apparel and clothing accessories (-45.5%); coconut oil (-38.4%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-2.7%); and electronic products (-2.1%).
On the other hand, merchandise exports for the first nine-month period of 2015 registered a 6.9 percent drop, that is from $46.976 billion in 2014 to $43.746 billion in same period of 2015 (Table 1a).
ELECTRONIC PRODUCTS DECREASED BY 2.1 PERCENT
Electronic Products remained as the country’s top export with total receipts of $2.393 billion, accounting for 54.3 percent of the total exports revenue in September 2015. However, it decreased by 2.1 percent from $2.443 billion registered in September 2014. Components/Devices (Semiconductors), having the biggest share of 40.2 percent among electronic products, grew by 8.5 percent to $1.773 billion in September 2015 from $1.633 billion in September 2014.
Machinery and Transport Equipment, the second top export earner in September 2015 with export revenue of $354.72 million, went up by 11.1 percent from $319.37 million in September 2014.
Woodcrafts and Furniture ranked third, with sales amounting to $247.19 million in September 2015, contributing 5.6 percent share to the total export receipts. It registered a 22.0 percent increase from the previous year level of $202.64 million.
Other Manufactures, with 4.0 percent share to the total export receipts, ranked fourth with value posted at $176.56 million. It recorded a decrease of 66.1 percent from September 2014 value of $520.74 million.
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships was recorded as the country’s fifth top export earner with value at value at $156.29 million or 3.5 percent share to total exports. It went down by 2.7 percent from $160.63 million in same period of 2014.
Rounding up the list of the top ten exports for the month of September 2015 were:
- Coconut Oil with export earnings of $93.11 million, decelerated by 38.4 percent;
- Chemicals with export receipts of $87.06 million, dropped by 85.5 percent;
- Articles of Apparel and Clothing Accessories with proceeds billed at $83.97 million, declined by 45.4 percent;
- Other Mineral Products with export receipts of $72.34 million, fell by 72.8 percent; and
- Metal Components with total receipts of $61.24 million, decreased by 55.8 percent.
Total receipts from the top ten exports reached $3.725 billion, or 84.6 percent of the total exports.
EXPORTS OF MANUFACTURED GOODS WENT DOWN BY 23.6 PERCENT
Outward shipments of Manufactured Goods were valued at $3.812 billion, accounting for 86.5 percent of the total export receipts in September 2015. It went down by 23.6 percent from $4.986 billion recorded in September 2014 (Table 2).
Exports from Total Agro-Based Products, with a share of 5.7 percent in September 2015, amounted to $251.84 million. It dropped by 29.0 percent from $354.65 million in September 2014.
Mineral Products with a 4.9 percent share, decreased by 32.6 percent from $322.73 million in September 2014 to $217.46 million in September 2015.
Merchandise exports from Special Transactions, sharing 2.4 percent of the total exports revenue in September 2015, increased by 18.3 percent to $106.73 million from $90.25 million in September 2014.
Petroleum Products, with 0.3 percent share, declined by 83.7 percent from $83.80 million in September 2014 to $13.69 million in the same month in 2015.
Moreover, sales from Forest Products, accounting for 0.1 percent share of the total exports, decreased by 62.4 percent from $8.22 million in September 2014 to $3.10 million reported value in same period of 2015.
JAPAN ACCOUNTED FOR 20.6 PERCENT TO TOTAL EXPORTS
Total export receipts from the country’s top ten market destinations for the month of September 2015 was valued at $3.668 billion or 83.3 percent of the total (Table 3).
Japan including Okinawa remained as the country’s top export destination with revenue amounting to $905.84 million, comprising 20.6 percent share to total exports for September 2015. It decreased by 47.7 percent from $1.733 billion recorded in the same month a year ago.
United States of America (USA) including Alaska and Hawaii ranked second, accounting 14.5 percent to total exports, with export receipts valued at $638.14 million in September 2015. It recorded a decline of 19.4 percent from $791.93 million in same month last year.
Hong Kong ranked third with $610.15 million or 13.9 percent share of the total exports. It rose by 13.4 percent from $537.95 million in the same month year ago level.
People’s Republic of China with 9.9 percent share to total exports, ranked fourth with shipments valued at $435.39 million. It went down by 28.9 percent from $612.65 million in same month a year ago.
Singapore placed fifth, representing a 6.4 percent share to total exports, with export earnings worth $281.31 million. It declined by 34.8 percent from $431.66 million posted in September 2014.
Other top ten market destinations for September 2015 were: Germany, $201.94 million; Republic of Korea, $191.32 million; Taiwan, $170.33 million; Thailand, $119.12 million; and Netherlands, $114.75 million.
MORE THAN HALF (52.7%) OF EXPORTS WERE FROM COUNTRIES IN EAST ASIA
Majority of the country’s merchandise exports in September 2015 were from countries in East Asia accounting for 52.7 percent share to total exports value at $2.323 billion. It decreased by 29.5 percent from $3.294 billion of September 2014 figure.
Commodities exported to ASEAN member countries comprised 13.0 percent of the total exports in September 2015 and was valued at $572.58 million. This registered a decrease of 29.7 percent from $813.91 million posted in same month a year ago.
Exports to European Union member countries, with 12.1 percent share to total merchandise exports amounted to $534.65 million. It dropped by 11.8 percent from $606.01 million recorded in September 2014 (Table 3a).
Technical Notes
The 2004 Philippine Standard Commodity Classification (PSCC) groupings are used in commodity classification starting September 2007. 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.
Starting 2014 export revised FOB value, all transactions that pass through all Value Added Service Providers (VASPs) of Bureau of Customs (BOC) and Philippine Economic and Zone Authority (PEZA) were included. Physical export declaration and electronic data files were the basis of export statistics.
