Merchandise Export Performance : February 1998

02 April 1998

EXPORT RECEIPTS FOR THE FIRST TWO MONTHS UP BY 23.9 PERCENT

Merchandise exports for January to February 1998 increased by 23.9 percent to $4.342 billion from $3.505 billion a year earlier.

Receipts from exports in February amounted to $2.227 billion or 22.9 percent higher from $1.812 billion last year.

ELECTRONICS AND COMPONENTS REMAIN AS TOP EARNER

With semi-conductor devices increasing by 85.5 percent, revenue from exports of Electronics and Components rose by 46.5 percent to $1.115 billion from $760.67 million. This top dollar earner also accounted for a 50.0 percent of aggregate receipts.

Input/Output/Peripheral Units, the second top earner for the month, brought in $141.56 million which was 11.6 percent higher than the year-ago level of $126.80 million.

Receipts from Articles of Apparel and Clothing Accessories inched up by 2.3 percent to $186.60 million from $182.39 million for third spot.

In fourth place was Coconut Oil. This group registered a 44.6 percent increase as shipments reached $65.57 million from $45.34 million during the same month of 1997.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships rose to number five despite a 13.9 percent decrease in revenue. Sales amounted to $38.65 million, which was $6.24 million lower than $44.89 million a year ago.

Rounding up the list of the top ten dollar earners for February 1998 were: Woodcraft and Furniture, $36.11 million; Cathodes and Sections of Cathodes, of Refined Copper, $27.43 million; Other Products Manufactured from Materials Imported on Consignment Basis, $26.70 million; Metal Components, $25.44 million; and Gold, $19.45 million.

Total income from the top ten exports amounted to $1.682 billion which was 75.5 percent of the aggregate for the month.

MANUFACTURED GOODS GAIN 24.2 PERCENT

Accounting for 87.7 percent of the aggregate receipts, Manufactured Goods posted a 24.2 percent rise in revenue as sales amounted to $1,953.82 million, up from $1,573.22 million a year earlier.

Agro-based and Other Agro-based Products led by Coconut Products made up the second biggest commodity group representing 7.4 percent of the aggregate value. Receipts reached $164.98 million, which was up by 27.4 percent from $129.54 million a year ago.

Other major commodity groups were: Mineral Products $62.08 million; Special Transactions, $36.96 million; Petroleum Products, $7.39 million; and Forest Products, $1.79 million.

US-BOUND EXPORTS ACCOUNT FOR 32.8 PERCENT

Exports to the United States valued at $731.31 million posted a 12.2 percent increase from $651.94 million a year earlier.

Japan, at second, purchased some $366.90 million worth of goods which was 12.7 percent higher than $325.54 million last year. Its share was pegged at 16.5 percent.

The Netherlands bought $175.84 million worth of local merchandise which increased by 32.3 percent over $132.86 million a year ago.

Singapore and Taiwan emerged as the fourth and fifth biggest markets respectively. Sales to Singapore were valued at $149.38 million while those to Taiwan amounted to $130.62 million.

Other top markets were: United Kingdom of Great Britain, $122.82 million; Hongkong, $103.63 million; Germany, $94.82 million; Malaysia, $59.54 million; and Thailand, $45.52 million.

Value of exports to the top ten markets amounted to $1,980.38 million or 88.9 percent of the total.

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