OUTBOUND GOODS IN JANUARY 2015 SLIGHTLY DECREASE BY 0.5 PERCENT

The   country’s   export   earnings   totaled   $4.357   billion   in   January   2015, a 0.5 percent decrement from $4.379 billion recorded value in January of 2014.  The negative growth was mainly brought about by the decrease of five major commodities out of the top ten commodities for the month and these were: other manufactures; woodcrafts and furniture; chemicals; metal components and coconut oil (Table 1).

ELECTRONIC PRODUCTS GREW BY 14.6 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.040   billion,   accounting   for   46.8   percent of the total exports revenue in January 2015. It increased by 14.6 percent from $1.780 billion registered in January 2014.  By major groups of electronic products, Components/Devices (Semiconductors), comprised 32.2 percent of the total exports and shared the biggest with export earnings worth   $1.404   billion and rose by 16.0 percent from $1.211 billion recorded in January 2014.

Machinery and Transport Equipment recorded as the country’s second top export with revenue valued at $356.04 million or 8.2 percent share to total exports. It increased by 39.6 percent from $254.96 million in same period a year ago.

Other Manufactures, with 6.6 percent share to the total export receipts, ranked third with value posted at $286.64 million. This recorded a decrease of 45.5 percent from January 2014 value of $525.55 million.

Woodcrafts and Furniture was the fourth top export earner in January 2015 with export revenue of $166.40 million, decreased by 43.4 percent from $294.09 million in January 2014.

Articles of Apparel and Clothing    Accessories   ranked   fifth, with sales amounting to $160.86 million in January 2015,   contributing   3.7   percent share   to   the total   export   receipts. This registered a 10.0 percent increase from the previous year level of $146.19 million.

Rounding up the list of the top ten exports for the month of January 2015 were Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships with export earnings of $152.25 million, increased by 62.7 percent and registered the highest year-on-year increase among the top ten exports during this period; Chemicals with export   receipts  of $134.12 million, down by 21.8 percent; Metal Components   with    proceeds    billed    at   $103.15   million,    decreased  by  21.6 percent;   Other Mineral Products   with   export   receipts   of   $97.85 million, rose by 8.7 percent; and Coconut Oil with total receipts of $79.41 million, declined by 3.3 percent compared to a year ago level.

Total receipts from the top ten exports reached $3.576 billion, or 82.1 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS DECELERATES BY 1.6 PERCENT

Outbound shipments of Manufactured Goods were valued at $3.739 billion, accounting for 85.8 percent of the total export receipts in January 2015.  It decreased by 1.6 percent from $3.798 billion recorded in January 2014 (Table 2). 

Export sales from Total Agro-Based Products, with a share of 7.2 percent in January 2015, amounted to $313.93 million.  It increased by 12.9 percent from          $278.17 million in January 2014. 

Mineral Products recorded a 4.6 percent share, increased by 34.0 percent to $201.00 million in January 2015 from $149.96 million in January 2014.

Merchandise exports from Special Transactions, comprising 2.0 percent share of   the   total exports   revenue   in   January  2015, accelerated by 6.7 percent to $86.30 million from $80.86 million in same month a year ago. 

Earnings from Petroleum Products, accounting for 0.3 percent share of the total exports revenue, decreased by 82.2 percent from $67.31 million to $11.96 million reported value in same period of 2015.

Moreover, Forest Products with 0.1 percent share, increased by 4.3 percent to $4.93 million in January 2015 from $4.73 million in same month in 2014.

JAPAN ACCOUNTS FOR 20.3 PERCENT TO TOTAL EXPORTS

Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $882.61 million, comprising 20.3 percent share to total exports for January 2015.  It decreased by 23.2 percent from $1.150 billion recorded value in same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 15.9 percent to total exports, with export receipts valued at $693.87 million in January 2015. This recorded an increase of 15.1 percent from $603.07 million in same month last year. 

People’s Republic of China with 10.2 percent share to total exports, ranked third   with   shipments   valued at $445.35 million.  It went up by 2.8 percent from $433.13 million a year ago.

Hong Kong placed fourth, representing a 9.8 percent share to total exports, with export earnings worth $427.38 million.  It increased by 30.5 percent from $327.44 million posted in January 2014.

Singapore ranked fourth in January 2015 with $304.89 million or 7.0 percent share of the total exports.  It dropped by 21.0 percent from $385.85 million year ago level.

Other  top  ten   market   destinations   for January 2015 were: Germany, $225.60 million; Thailand, $180.05 million; Taiwan, $151.70 million; Republic of Korea, $150.65 million; and Netherlands, $126.88 million.

Total export receipts from the country’s top ten markets destinations for the month   of   January   2015   was   valued   at   $3.589 billion or 82.4 percent of the total (Table 3).

47.5 PERCENT OF EXPORTS WERE FROM COUNTRIES IN EAST ASIA

The merchandise exports to countries in East Asia in January 2015 accounted for   47.5 percent   share   to   total exports, amounting to $2.069 billion.  This recorded a decrease of 10.7 percent from its January 2014 figure of $2.318 billion.        

Commodities exported to ASEAN member countries comprised 16.0 percent of the total   exports   in   January    2015 and was valued at $696.25 million. It decreased by 6.9 percent from $747.90 million posted in same month a year ago.

Exports to European Union member countries, with 11.7 percent share to total merchandise exports, amounted to $510.70 million, a 10.2 percent increment from $463.63 million recorded in January 2014 (Table 3a).

Technical Note:

1.) Starting with the March 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.

2.) 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.

(Sgd.) LISA GRACE S. BERSALES, Ph. D.

National Statistician