Merchandise Exports Performance : March 2015

Reference Number: 

2015-037

Release Date: 

Tuesday, May 12, 2015

MERCHANDISE EXPORTS PERFORMANCE

 

MARCH 2015

(Preliminary)

 

 

March

 

2015 p

2014 r

 

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)

 

 

5,376.77

2.1

 

2,331.68

4.5

 

 

5,268.41

     12.1

 

2,231.83

9.9

 

 
Top 10 Philippine Export to All Countries: March 2015 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Coconut Oil
141.1
Woodcrafts and Furniture
-29.8
Machinery and Transport Equipment
42.4
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
-29.3
Chemicals
39.7
Other Manufactures
-19.2
Metal Components
23.8
 
 
Other Mineral Products
23.2
 
 
Articles of Apparel and Clothing Accessories
15.3
 
 
Electronic Products
4.5    
                        p-preliminary, r-revised
 
 

OUTWARD GOODS IN MARCH 2015 INCREASE BY 2.1 PERCENT

The Philippines’ export revenue totaled $5.377 billion in March 2015, a 2.1 percent increase from $5.268 billion recorded value in March of 2014.  The positive growth was mainly brought about by the increase of seven major commodities out of the top ten commodities for the month which include coconut oil; machinery and transport equipment; chemicals; metal components; other mineral products; articles of apparel and clothing accessories; and electronic products (Table 1).

Cumulative merchandise exports for the three month period of 2015 registered a 0.2 percent decrease that is from $14.277 billion in 2014 to $14.247 billion in same period of 2015 (Table 1a).

 

ELECTRONIC PRODUCTS ROSE BY 4.5 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.332 billion, accounting for 43.4 percent of the total exports revenue in March 2015. It increased by 4.5 percent from $2.232 billion registered in March 2014.  Among the major groups of electronic products, Components/Devices (Semiconductors), comprised the biggest at 30.7 percent.  Its total exports earrnings worth $1.652 billion and rose by 6.1 percent from $1.557 billion recorded in March 2014.

Machinery and Transport Equipment was the second top export earner in March 2015 with export revenue of $417.30 million, increased by 42.4 percent from $293.04 million in March 2014.

Other Manufactures, with 6.3 percent share to the total export receipts, ranked third with value posted at $336.54 million. This recorded a decrease of 19.2 percent from March 2014 value of $416.55 million.

 Woodcrafts and Furniture recorded as the country’s fourth top export with revenue valued at $260.01 million or 4.8 percent share to total exports. It declined by 29.8 percent from $370.52 million in same period of 2014.

Chemicals ranked fifth, with sales amounting to $220.31 million in March 2015, contributing 4.1 percent share to the total export receipts. This registered a 39.7 percent increase from the previous year level of $157.73 million.

Rounding up the list of the top ten exports for the month of March 2015 were: Other Mineral Products with export earnings of $205.66 million, grew by 23.2 percent; Articles of Apparel and Clothing Accessories with export receipts of $193.33 million, increased by 15.3 percent; Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships with proceeds billed at $180.66 million, declined by 29.3 percent; Coconut Oils with export receipts of $171.64 million, expanded by 141.1 percent and registered the highest year-on-year increase among the top ten exports during this period; and Metal Components with total receipts of $142.69 million, accelerated by 23.8 percent.

Total receipts from the top ten exports reached $4.460 billion, or 82.9 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS UP BY 2.8 PERCENT

Outbound shipments of Manufactured Goods were valued at $4.540 billion, accounting for 84.4 percent of the total export receipts in March 2015.  It increased by 2.8 percent from $4.416 billion recorded in March 2014 (Table 2). 

Receipts from Total Agro-Based Products, with a share of 6.9 percent in March 2015, amounted to $371.02 million.  It decreased by 20.1 percent from $464.15 million in March 2014.

Mineral Products registering a 6.2 percent share, expanded by 20.8 percent from $277.48 million in March 2014 to $335.21 million in March 2015.

Merchandise exports from Special Transactions, comprising 2.0 percent share of the total exports revenue in March 2015, rose by 25.9 percent to $109.05 million from $86.60 million in same month a year ago. 

Petroleum Products with 0.3 percent share, dropped by 17.5 percent from $17.45 million in March 2014 to $14.39 million in same month in 2015.

Furthermore, sales from Forest Products accounted for 0.1 percent share of the total exports revenue, decreased by 4.6 percent from $7.14 million to $6.81 million reported value in same period of 2015.

JAPAN ACCOUNTS FOR 20.8 PERCENT TO TOTAL EXPORTS

Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $1.118 billion, comprising 20.8 percent share to total exports for March 2015.  It decreased by 15.6 percent from $1.325 billion recorded value in same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 16.4 percent to total exports, with export receipts valued at $879.54 million in March 2015. This recorded an increase of 23.2 percent from $713.77 million in same month last year.

People’s Republic of China with 10.9 percent share to total exports, ranked third with shipments valued at $583.52 million in March 2015.  It went up by 4.8 percent from $556.94 million in same month a year ago.

Hong Kong ranked fourth in March 2015 with $511.15 million or 9.5 percent share of the total exports.  It rose by 23.8 percent from $412.76 million year ago level.

Singapore placed fifth, representing a 5.8 percent share to total exports, with export earnings worth $312.88 million.  It contracted by 20.4 percent from $392.85 million posted in March 2014.

Other top ten market destinations for March 2015 were: Germany, $228.23 million; Netherlands, $212.78 million; Republic of Korea, $191.91 million; Thailand, $178.70 million; and Taiwan, $175.49 million.

Total export receipts from the country’s top ten markets destinations for the month of March 2015 was valued at $4.392 billion or 81.7 percent of the total (Table 3).

48.1 PERCENT OF EXPORTS WERE FROM COUNTRIES IN EAST ASIA

The country’s merchandise exports to countries in East Asia in March 2015 accounted for 48.1 percent share to total exports, amounting to $2.586 billion.  It decreased by 5.8 percent from $2.745 billion of March 2014 figure.        

Commodities exported to ASEAN member countries comprised 13.1 percent of the total exports in March 2015 and was valued at $703.93 million. This registered a decrease of 13.5 percent from $814.24 million posted in same month a year ago.

Exports to European Union member countries, with 12.9 percent share to total merchandise exports amounted to $695.39 million.  It grew by 13.3 percent from $613.61 million recorded in March 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

 

 

 

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