EXPORTED GOODS IN MAY 2015 DECREASED BY 17.4 PERCENT

The Philippines’ export sales totaled $4.899 billion in May 2015, a 17.4 percent decrease from $5.932 billion recorded value in May of 2014.  The negative growth was mainly brought about by the decrease of seven major commodities out of the top ten commodities for the month.  These include other mineral products, machinery & transport equipment, other manufactures, electronic products, articles of apparel and clothing accessories, and ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (Table 1).

Combined   merchandise   exports   for the first five months of 2015 registered a 5.0 percent decrease, that is from $24.772 billion in 2014 to $23.526 billion in same period of 2015 (Table 1a).

ELECTRONIC PRODUCTS DECLINED BY 7.5 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.357 billion, accounting for 48.1 percent of the total exports revenue in May 2015. It declined by 7.5 percent from $2.548 billion registered in May 2015.  Components/Devices   (Semiconductors),   although   had   the   biggest   share  of 38.1 percent among electronic products, decreased by 6.9 percent from $1.917 billion in May 2014 to $1.785 billion in May 2015.

Other Manufactures, with 8.0 percent share to the total export receipts, ranked second with value posted at $394.21 million. This recorded a decrease of 24.9 percent from May 2014 value of $525.07 million.

Machinery and Transport Equipment was the third top export earner in May 2015   with   export   revenue   of  $258.33 million, declined by 34.3 percent from $393.46 million in May 2014.

Chemicals was recorded as the country’s fourth top export with revenue valued at $231.77 million or 4.7 percent share to total exports. It rose by 6.2 percent from $218.32 million in same period of 2014.

Woodcrafts and Furniture ranked fifth, with sales amounting to $202.79 million in May 2015, contributing 4.1 percent share to the total export receipts. This registered a 33.8 percent decrease from the previous year level of $306.26 million.

Rounding up the list of the top ten exports for the month of May 2015 were: Electronic Equipment and Parts with export earnings of $192.95 million, accelerated by 185.8 percent and registered the highest year-on-year increase among the top ten exports   during   this   period;   Other  Mineral Products with export receipts of $154.53 million, dropped by 66.5 percent; Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships with proceeds billed at $136.75 million, declined by 4.0 percent; Articles of Apparel and Clothing Accessories with export receipts of $133.68 million, fell by 7.4 percent; and Metal Components with total receipts of $115.48 million, increased by 13.3 percent.

Total receipts from the top ten exports reached $4.177 billion, or 85.3 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS WENT DOWN BY 9.5 PERCENT

Outward shipments of Manufactured Goods were valued at $4.278 billion, accounting   for 87.3 percent of the total export receipts in May 2015.  It went down by 9.5 percent from $4.725 billion recorded in May 2014 (Table 2). 

Receipts from Total Agro-Based Products, with a share of 6.0 percent in May 2015, amounted to $292.61 million.  It dropped by 32.3 percent from $431.94 million in May 2014.

Mineral  Products  which  registered   a   4.3   percent  share, decreased by 66.5 percent from $626.83 million in May 2014 to $209.70 million in May 2015.

Merchandise exports from Special Transactions, which comprised 1.7 percent share   of   the   total  exports revenue in May 2015.  This registered a contraction of 22.1 percent from $108.43 million of previous level to $84.44 million in May 2015. 

Petroleum Products with 0.6 percent share, declined by 13.5 percent from $32.23 million in May 2014 to $27.88 million in same month in 2015.

Moreover, sales from Forest Products which accounted for 0.1 percent share of the total exports, increased by 1.0 percent to $6.9 million in May 2015 from $6.8 million reported value in same period of 2014.

JAPAN ACCOUNTED FOR 24.6 PERCENT TO TOTAL EXPORTS

Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $1.204 billion, comprising 24.6 percent share to total exports for May 2015.  It increased by 7.6 percent from $1.119 billion recorded value in same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 14.2 percent to total exports, with export receipts valued at $696.00 million in May 2015. This recorded a decline of 4.7 percent from $730.49 million in same month last year.

People’s Republic of China with 10.8 percent share to total exports, ranked third   with   shipments   valued   at   $529.15  million   in May 2015.  It went down by 62.1 percent from $1.398 billion in same month a year ago.

Hong Kong ranked fourth in May 2015 with $527.37 million or 10.8 percent share of the total exports.  It rose by 24.6 percent from $423.31 million year ago level.

Singapore placed fifth, representing a 6.1 percent share to total exports, with export earnings worth $300.92 million.  It declined by 15.5 percent from $356.32 million posted in May 2014.

Other top ten market destinations for May 2015 were: Germany, $229.48 million; Republic of Korea,   $165.03 million;   Netherlands,   $158.38 million;  Taiwan, $158.30 million; and Thailand, $154.97 million.

Total export receipts from the country’s top ten market destinations for the month of May 2015 was valued at $4.123 billion or 84.2 percent of the total (Table 3).

MORE THAN HALF (52.8%) OF EXPORTS WERE FROM COUNTRIES IN EAST ASIA

Majority of the country’s merchandise exports in May 2015 were from countries in East Asia   which accounted for 52.8 percent share to total exports and valued at $2.588 billion.  It decreased by 22.2 percent from $3.329 billion of May 2014 figure.        

Commodities exported to ASEAN member countries comprised 14.7 percent of the total exports in May 2015 and was valued at $718.01 million. This registered a decrease of 21.3 percent from $912.16 million posted in same month a year ago.

Exports to European Union member countries, with 11.8 percent share to total merchandise exports amounted to $575.99 million.  It dropped by 4.2 percent from $601.44 million recorded in May 2014 (Table 3a).