MERCHANDISE EXPORTS INCREASE BY 22.0 PERCENT

Aggregate receipts for January 1999 from merchandise exports grew by 22.0 percent to $2.581 billion from $2.115 billion a year earlier.

ELECTRONICS CONTINUE TO LEAD EXPORTS

Accounting for 57.4 percent of the total dollar inflow, Electronics and Components was again the top export with earnings of $1.481 billion. This was higher by 38.2 percent from $1.072 billion a year ago.

In second place, Input/Output Peripheral Units grossed $188.05 million which was 19.6 percent higher than $157.29 million last year.

Articles of Apparel and Clothing Accessories comprised the third top export for the month with sales of $160.13 million, increasing by 9.0 percent from $146.85 million in 1998.

Earnings from Woodcraft and Furniture, up by 4.6 percent at $33.40 million from $31.92 million in 1998, was fourth highest for the month.

Revenues from Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships grew by 10.4 percent to $32.74 million from $29.65 million in 1998.

Coconut Oil exports still managed to enter the list of top exports even after registering a 67.1 percent decline as shipments went down to $28.06 million from $85.38 million in 1998.

Rounding up the list of the top exports for the month were Cathodes and Sections of Cathodes, of Refined Copper, $25.27 million; Metal Components,$23.82 million; Gold, $19.92 million; and Bananas (Fresh), $16.92 million.

Aggregate payment for the top ten exports for the month amounted to $2.009 billion, or 77.9 percent of the total.

MANUFACTURED GOODS BRING IN 90.8 PERCENT OF REVENUE

The share of Manufactured Goods to total receipts reached 90.8 percent as shipments of $2.344 billion increased by 29.5 percent from $1.810 billion a year earlier.

Agro-Based and Other Agro-Based Products comprised the second major commodity group with exports of $96.37 million or 3.7 percent of the total., However, aggregate revenues for these commodity groups declined by 46.9 percent from $181.36 million last year.

Other major commodity groups and their respective levels were Special Transactions, $72.97 million; Mineral Products, $56.01 million; Petroleum Products, $9.72 million; and Forest Products, $1.39 million.

US SHARE 29.4 PERCENT

Posting a 5.0 percent increase, sales to the United States reached $757.84 million, up from $721.58 million a year earlier. The US market took in 29.4 percent of total export for the month.

Japan with a 14.2 percent share was the second biggest market. Reported receipts of $365.71 million was 0.4 percent lower compared to $367.08 million a year ago.

Exports to Netherlands, the third biggest market for the month, amounted to $205.53 million, or 8.0 percent of the total.

Other top markets for January 1999 were Taiwan, $190.49 million; Malaysia,$175.97 million; Singapore, $158.39 million; United Kingdom of Great Britain,$153.74 million; Hongkong, $122.98 million; Germany, $69.96 million; andKorea, Republic of, $67.77 million.

Shipments to the top ten markets accounted for 87.9 percent of the aggregate export revenue and amounted to $2.268 billion.

Source: National Statistics Office
               Manila, Philippines