EXPORT REVENUE REACH $29.016 BILLION

Total receipts for January to October 1999 grew by 19.0 percent to $29.016 billion from $24.387 billion a year-earlier.

For the month of October alone, total receipts increased by 36.0 percent to $3.458 billion from $2.542 billion last year. This is the highest increase since the 39.5 percent gain posted in April 1997.

Fig. 1. Philippine Export by Month: 1999
( F.O.B. Value in Million US Dollar )

ELECTRONICS AND COMPONENTS ACCOUNT FOR 59.2 PERCENT

Accounting for 59.2 percent of the aggregate revenue for the month in review, exports of Electronics and Components went up by 46.5 percent to $2.046 billion, up from $1.397 billion last year.

Input/Output/Peripheral Units remained as the second top earner, turning in $271.12 million which was 67.8 percent higher than $161.58 million a year ago.

The third top earner for the month consisted of Articles of Apparel and Clothing Accessories with sales amounting to $155.32 million, decreasing by 5.2 percent from $163.90 million in1998.

Earnings from Coconut Oil climbed by 29.7 percent to $54.39 million from $41.93 million last year.

Revenues from Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Shipsgrew by 39.7 percent reaching $52.97 million. This was up from $37.92 million a year ago.

Value of Woodcraft and Furniture went up by 20.4 percent to $47.52 million from $39.46 million in 1998.

Rounding up the list of the top exports for October 1999 were: Other Products Manufactured from Materials Imported on Consignment Basis, $38.81 million; Metal Components, $35.82 million;Petroleum Products, $32.27 million; and Bananas (fresh), $21.49 million.

Aggregate payment for the top ten exports for the month amounted to $2.756 billion, or 79.7 percent of the total.

Fig. 2. Philippine Top Exports in October : 1998 & 1999
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS GROW BY 91.3 PERCENT

Revenue from exports of Manufactured Goods posted a 37.9 percent increase as sales reached $3.156 billion, up from $2.289 billion a year earlier. This major export group accounted for 91.3 percent of the total receipts.

Income from Agro-Based and Other Agro-Based Products combined for $157.16 million or 4.5 percent of the total. Aggregate revenue for these commodity groups grew by 13.0 percent from $139.08 million last year.

Fig. 3. Philippine Exports by Commodity Group in October : 1998 & 1999
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 24.7 PERCENT

Accounting for 24.7 percent of the aggregate receipt for the month, value of exports to the United States was placed at $854.43 million, inching up by 0.9 percent from $846.83 million last year.

Taiwan followed with a 13.8 percent share. Valued at $475.62 million, exports surged by 163.5 percent from $180.52 million in 1998.

Exports to Japan, the third biggest market, amounted to $441.62 million and accounted for 12.8 percent of total exports.

Hongkong emerged as the fourth biggest market for the month as shipments of local goods amounted to $276.30 million or 8.0 percent of the total. Receipts increased by 182.7 percent from $97.74 million last year.

Other top markets for the month were: Netherlands, $260.17 million; Singapore, $208.57 million;United Kingdom of Great Britain, $192.22 million; Malaysia, $145.80 million; Germany, $137.71 million; and, Republic of Korea, $114.37 million.

Export receipts from the top ten markets amounted to $3.107 billion or 89.8 percent of the total.

Fig. 4. Philippine Top Exports by Country in October : 1998 & 1999
( F.O.B. Value in Million US Dollar ) 

Source: National Statistics Office
              Manila, Philippines