5-MONTHS EXPORT REVENUE GROWS BY 12.4 PERCENT

Aggregate receipts for the first five months of 1999 from merchandise exports was valued at $12.942 billion increasing by 12.4 percent from $11.515 billion last year.

For May 1999, total receipts went up by 13.6 percent to $2.744 billion from $2.415 billion last year. This was also a gain of 16.0 percent from $2.346 billion in April 1999.

 
ELECTRONICS AND COMPONENTS ACCOUNT FOR 55.1 PERCENT

Receipts from Electronics and Components, still the top dollar earner with a 55.1 percent share, increased by 38.0 percent to $1.513 billion from $1.096 million last year.

Accounting for 7.6 percent of the aggregate, Articles of Apparel and Clothing Accessories emerged as the second top earner for the month. Sales amounted to $209.0 million, increasing by 3.0 percent over $202.90 million in 1998.

In third spot, Input/Output/Peripheral Units grossed $164.51 million, which was 5.8 percent higher than $155.42 million a year ago.

Exports of Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships rose by 7.2 percent with shipments amounting to $41.79 million from $38.99 million in 1998.

Woodcraft and Furniture was in fifth posting sales valued at $36.54 million, which was lower by 7.9 percent from $39.68 million last year.

Earnings from Metal Components at $29.72 million registered a 10.5 percent increase from $26.90 million last year.

Rounding up the list of the top ten exports for May 1999 were Other Products Manufactured from Materials Imported on Consignment, $27.64 million; Fresh Bananas, $23.49 million; Coconut Oil, $18.27 million; and Tuna, $16.03 million.

Aggregate payment for the top ten exports for the month amounted to $2.080 billion, or 75.8 percent of the total.

 
DOLLAR INFLOWS FROM MANUFACTURED GOODS UP BY 22.3 PERCENT

Manufactured Goods, led by electronic equipment and parts, posted a 22.3 percent increase as export sales reached $2.483 billion from $2.030 billion a year earlier. This major export group accounted for 90.5 percent of the total receipt.

Agro-based Products and Other Agro-based Products combined for a total export value of $129.41 million, declining by 24.4 percent from $171.13 million last year. This downturn was largely due to the 61.6 percent drop in Coconut Products which went down to $27.42 million from $71.46 million a year earlier.

Exports of goods included in Special Transactions, which accounted for 3.0 percent of the total revenue, fell by 46.8 percent to $81.03 million from $152.19 million last year.

Other major commodity groups and their respective export earnings were Mineral Products, $37.29 million; Petroleum Products, $11.62 million; andForest Products, $995.0 thousand. Re-exports amounted to $85.69 million which was 40.4 percent lower than $143.82 million in 1998.

 
US TOP MARKET FOR MAY

Exports to the United States amounted to $899.09 million increasing by 13.9 percent from $789.16 million a year earlier. US share to total exports stood at 32.8 percent.

Japan with a 13.6 percent share reported purchases valued at $373.45 million. Compared to the same month in 1998, shipments dropped by 4.3 percent from $390.39 million.

Exports to the Netherlands had a value of $221.75 million and accounted for 8.1 percent of the total. This grew by 25.0 percent from $177.40 million a year ago.

Other major markets for the month were Singapore, $210.10 million; Taiwan, $168.30 million; Hongkong, $145.07 million; United Kingdom of Great Britain, $127.77 million; Malaysia, $113.30 million; Germany, $102.23 million; and Republic of Korea, $69.46

Exports to the top ten markets amounted to $2.431 billion or 88.6 percent of aggregate export earnings.

Source: National Statistics Office
              Manila, Philippines