MERCHANDISE EXPORTS PERFORMANCE
SEPTEMBER 2014
(Preliminary)
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September
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2014 p |
2013 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) |
5,848.83 15.7
2,442.13 13.6 |
5,056.21 5.1
2,150.14 15.4 |
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Top 10 Philippine Export to All Countries: September 2014 p
(Year-on-Year Growth in Percent)
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Gainers |
Losers |
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Chemicals
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163.8 |
Woodcrafts and Furniture
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-26.4 |
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Machinery & Transport Equipment
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122.0 |
Metal Components
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-26.2 |
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Other Mineral Products
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95.3 |
Articles of Apparel and Clothing Accessories
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-3.4 |
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Coconut Oil
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89.1 |
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
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-0.9 |
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Other Manufactures
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14.1 |
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Electronic Products
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13.6 | ||
OUTBOUND GOODS IN SEPTEMBER 2014 INCREASE BY 15.7 PERCENT
The country’s export earnings totaled $5.849 billion in September 2014, a 15.7 percent growth from $5.056 billion recorded value in September of 2013. The rise in export sales was brought by the positive growth performances of six major commodities out of the top ten commodities for the month and these were: chemicals; machinery and transport equipment; other mineral products; coconut oil; other manufactures; and electronic products ( Table 1 ).
Moreover, cumulative merchandise exports for the nine month period of 2014 registered a 9.9 percent increase to $46.596 billion in 2014 from $42.386 billion in same period of 2013 ( Table 1a ).
ELECTRONIC PRODUCTS RISE BY 13.6 PERCENT
Electronic Products remained as the country’s top export with total receipts of $2.442 billion, accounting for 41.8 percent of the total exports revenue in September 2014. It increased by 13.6 percent from $2.150 billion registered in September 2013. By major groups of electronic products, Components/Devices (Semiconductors), comprised 27.9 percent of the total exports and shared the biggest with export earnings worth $1.633 billion and rose by 9.1 percent from $1.497 billion recorded in September 2013.
Chemicals was the second top export earner in September 2014 with export revenue of $600.68 million, increased by 163.8 percent from $227.74 million in September 2013 and registered the highest year-on-year increase among the top ten exports during this period.
Other Manufactures, with 8.9 percent share to the total export receipts, ranked third with value posted at $520.98 million. This recorded an increase of 14.1 percent from September 2013 value of $456.63 million.
Machinery and Transport Equipment ranked fourth, with sales amounting to $345.54 million in September 2014, contributing 5.9 percent share to the total export receipts. This registered a 122.0 percent increase from the previous year level of $155.65 million.
Other Mineral Products was the fifth top export by the country with revenue valued at $265.85 million or 4.5 percent share to total exports. It increased by 95.3 percent from $136.15 million in same period a year ago.
The remaining other major commodities included in the list of top ten exports for the month of September 2014 were: Woodcrafts and Furniture with export earnings of $202.25 million, decreased by 26.4 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships with export receipts of $160.63 million, went down by 0.9 percent; Coconut Oils with proceeds billed at $152.20 million, increased by 89.1 percent; Articles of Apparel and Clothing Accessories with export receipts of $150.91 million, declined by 3.4 percent; and Metal Components with total receipts of $138.58 million, dropped by 26.2 percent.
Total receipts from the top ten exports reached $4.980 billion, or 85.1 percent of the total exports.
EXPORTS OF MANUFACTURED GOODS ACCELERATES BY 19.7 PERCENT
Exports of Manufactured Goods were valued at $4.984 billion, accounting for 85.2 percent of the total export receipts in September 2014. It increased by 19.7 percent from $4.162 billion recorded in September 2013 ( Table 2 ).
Receipts from Total Agro-Based Products, with a share of 6.1 percent in September 2014, amounted to $359.13 million. It decreased by 4.3 percent from $375.41 million in September 2013.
Mineral Products recording an 5.5 percent share, dropped by 13.3 percent from $372.42 million in September 2013 to $322.73 million in September 2014.
Merchandise exports from Special Transactions, comprising 1.6 percent share of the total exports revenue in September 2014, rose by 7.8 percent to $91.20 million from $84.58 million in same month a year ago.
Petroleum Products with 1.4 percent share, increased by 53.2 percent to $83.79 million in September 2014 from $54.70 million in same month in 2013.
Furthermore, Forest Products, accounting for 0.1 percent share of the total exports revenue, increased by 21.4 percent to $8.22 million from $6.77 million reported value in same period of 2013.
JAPAN ACCOUNTS FOR 29.6 PERCENT TO TOTAL EXPORTS
Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $1.734 billion, comprising 29.6 percent share to total exports for September 2014. It increased by 52.6 percent from $1.136 billion recorded value in same month a year ago.
United States of America (USA) including Alaska and Hawaii ranked second, accounting 13.6 percent to total exports, with export receipts valued at $793.61 million in September 2014. This recorded a decrease of 33.6 percent from $1.196 billion in same month last year.
People’s Republic of China with 10.5 percent share to total exports, ranked third with shipments valued at $612.79 million. It rose by 17.0 percent from $523.81 million a year ago.
Hong Kong ranked fourth in September 2014 with $537.97 million or 9.2 percent share of the total exports. It expanded by 6.1 percent from $506.90 million year ago level.
Singapore placed fifth, representing a 7.4 percent share to total exports, with export earnings worth $431.64 million. It increased by 32.9 percent from $324.79 million posted in September 2013.
Other top ten market destinations for September 2014 were: Germany, $241.34 million; Republic of Korea, $223.23 million; Thailand, $182.00 million; Taiwan, $180.67 million; and Netherlands, $170.59 million.
Total export receipts from the country’s top ten markets destinations for the month of September 2014 was valued at $5.108 billion or 87.3 percent of the total ( Table 3 ).
EXPORTS TO EAST ASIA VALUED AT $3.294 BILLION
The Philippine’s exported goods to countries in East Asia in September 2014 accounted for 56.3 percent share to total exports, amounting to $3.294 billion or an increase of 29.6 percent from $2.542 billion in September 2013.
Commodities exported to ASEAN member countries comprised 13.9 percent of the total exports in September 2014 and was valued at $813.89 million. This registered an increase of 34.0 percent from $607.34 million posted in same month a year ago.
Exports to European Union member countries, with 10.4 percent share to total exports, amounted to $605.99 million, a 32.6 percent increase from $457.13 million recorded in September 2013 ( 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 2013 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
