Merchandise Export Performance : March 2011
MERCHANDISE EXPORT PERFORMANCE *
( Preliminary )
* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised
MERCHANDISE EXPORTS FOR MARCH 2011 UP BY 4.0 PERCENT
Export earnings in March 2011 amounted to $4.350 billion, a 4.0 percent increment from $4.182 billion recorded in March of 2010. Similarly, month-on-month, it increased by 12.6 percent from $3.865 billion posted in February 2011. Meanwhile, aggregate merchandise exports for the first three months of 2011 showed an increase of 7.8 percent to $12.215 billion from $11.331 billion posted during the same three-month period in 2010.
ELECTRONIC PRODUCTS DOWN BY 7.4 PERCENT
Accounting for 51.5 percent of the total exports revenue in March 2011, Electronic Products emerged as the country’s top export with total receipts of $2.238 billion. It lowered by 7.4 percent from $2.416 billion registered in March 2010. However, on a monthly basis, Electronic Products, increased by 11.1 percent from $2.015 billion posted in February 2011. Components/Devices (Semiconductors) which comprised 39.6 percent of the total exports and the biggest share among the major groups of electronic products recorded export earnings worth $1.724 billion. However, this figure posted a decline of 1.4 percent from $1.749 billion in March 2011.
Coconut Oil including crude and refined followed as the second top export earner in March 2011 with total receipts of $183.19 million or a share of 4.2 percent to the total exports revenue. It rose by 78.5 percent compared to March 2010 level of $102.62 million.
Articles of Apparel and Clothing Accessories recorded as the country’s third top gainer in March 2011 with revenue valued at $148.81 million (3.4%). It improved by 1.9 percent from $146.0 million recorded in March 2010.
Ranked fourth in March 2011 and contributing 3.3 percent share to the total export receipts was Woodcrafts and Furniture with earnings amounting to $142.34 million. This figure expanded by 50.9 percent from its year ago level of $94.35 million.
Cathodes and Section of Cathodes, of Refined Copper 3.1 percent share to the total export receipts ranked fifth with value posted at $135.85 million or an equivalent 21.8 percent increment from $111.53 million registered in March 2010.
Rounding up the list of the top ten exports for the month of March 2011 were Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with export revenue of $95.69 million dropped by 2.3 percent; Petroleum Products including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis with export earnings worth $76.43 million accelerated by 315.5 percent, the highest registered annual growth rate among the top ten exports; Metal Components excluding brakes and servo-brakes with export receipts of $68.13 million decelerated by 10.3 percent; Other Products Manufactured from Materials Imported on Consignment Basis with recorded sales amounting to $45.17 million was down by 23.7 percent; and Bananas (Fresh) with proceeds billed at $34.53 million gained by 52.5 percent.
Total receipts from the top ten exports reached $3.169 billion, or 72.8 percent of the total exports.
EXPORTS OF MANU
Accounting for 81.3 percent of the total export receipts in March 2011, outward shipments of Manufactured Goods was estimated at $3.537 billion, representing a decrease of 1.9 percent from $3.607 billion recorded in March 2010. Month-on-month, however, it went up by 6.9 percent from $3.308 billion recorded in February 2011.
Income from Total Agro-Based Products comprising 7.8 percent share of the total exports revenue in March 2011 rose by 49.7 percent to $338.03 million from $225.85 million in March 2010. Compared to its previous month level, it grew by 23.3 percent from $274.23 million in February 2011.
Earnings from Mineral Products with a share of 6.0 percent in March 2011 reached $259.25 million. It expanded by 31.7 percent from $196.83 million in March 2010. Similarly, export receipts from Special Transactions reflecting 3.2 percent share rose by 3.3 percent to $137.03 million from $132.64 million posted in March 2010.
Petroleum Products accounting for 1.8 percent share of the total exports revenue accelerated by 315.5 percent to $76.43 million from $18.40 million in March 2010. Likewise, Forest Products with less than 0.1 percent share grew by 27.5 percent to $1.79 million in March 2011 from $1.41 million in March 2010.
EXPORTS TO JAPAN ACCOUNTS FOR 17.5 PERCENT
Japan including Okinawa comprising 17.5 percent share to total exports for March 2011 emerged as the country’s top destination of exports with revenue amounting to $760.64 million. It was higher by 11.4 percent from $682.67 million recorded a year ago.
United States of America (USA) including Alaska and Hawaii with 14.0 percent share to total exports followed as the second top market of the country for March 2011 with export earnings worth $608.75 million. This represents a decrease of 13.5 percent from $703.76 million reported a year earlier.
People’s Republic of China accounting for 11.5 percent share to total exports came in third with shipments amounting to $500.33 million. Compared to its March 2010 level, this value expanded by 2.7 percent from $487.38 million.
Hong Kong sharing 10.0 percent to the total exports in March 2011 ranked fourth with $432.71 million or a 20.5 percent increment from it’s year ago level of $359.05 million.
Fifth in rank and representing 9.5 percent share to total exports was Singapore with export earnings worth $412.21 million or an increase of 20.1 percent from $343.30 million posted in March 2010.
Other top ten markets for March 2011 were Republic of Korea, $231.93 million; Taiwan, $178.28 million; Germany, $170.51 million; Netherlands, $164.70 million; and Thailand, $164.20 million.
Total export receipts from the country’s top ten markets for the month of March 2011 amounted to $3.624 billion or 83.3 percent of the total.
EXPORTS TO EASTERN
The Philippines’ merchandise exports to Eastern Asia in March 2011 contributed 48.5 percent share to total exports, amounting to $2.107 billion or an increase of 16.4 percent from its March 2010 figure of $1.810 billion.
Exports to ASEAN member-countries accounting for 18.6 percent share to total merchandise exports in March 2011 reached $809.97 million, a 14.9 percent annual growth from $704.98 million recorded in March 2010.
Merchandise exports to European Union (EU), on the other hand, sharing 12.4 percent to total merchandise exports in March 2011 was valued at $540.39 million. It contracted by 19.9 percent from $674.56 million recorded in March 2010.
1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam
3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland
Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999). 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.
(Sgd.) CARMELITA N. ERICTA
Source: Foreign Trade Statistics Section
Industry and Trade Statistics Department
National Statistics Office