INCREASE IN JANUARY TO JULY MERCHANDISE EXPORTS 19.1 PERCENT

Merchandise exports for January to July 1998 grew by 19.1 percent to $16.404 billion from $13.767 billion during the same period in 1997.

For the month of July, total earnings reached $2.499 billion, surpassing $2.067 billion last year by 20.9 percent. Except for the April and June exports, year-on-year growth has been more than 20 percent in 1998.

ELECTRONICS AND COMPONENTS LEAD JULY EXPORTS

Leading the top earners for the month were Electronics and Components with a 47.7 percent share. Sales grew by 50.6 percent to $1.193 billion from $792.04 million last year.

Articles of Apparel and Clothing Accessories emerged as the second top earner with sales amounting to $258.85 million. This was an increase of 13.8 percent over $227.39 million in 1997.

Input/Output/Peripheral Units followed with $178.99 million which was 7.2 percent higher than $167.02 million a year ago.

Revenue from Coconut Oil exports registered a 37.3 percent increase as shipments amounting to $73.13 million moved up from $53.26 million in 1997.

Earnings from Woodcraft and Furniture posted an 8.6 percent drop from the year-ago value of $39.89 million. July 1998 sales amounted to $36.44 million.

Income from Ignition Wiring Sets and Other Wiring Sets Used in Vehicles amounted to $33.37 million which decreased by 24.6 percent from $44.25 million last year.

Completing the list of the top exports for July 1998 were: Other Products Manufactured from Materials Imported on Consignment Basis, $32.75 million; Metal Components, $27.49 million; Gold, $24.78 million; and Tuna, $21.17 million.

Combined revenue from the top ten exports for the month amounted to $1.880 billion, or 75.2 percent of the total.

MANUFACTURED GOODS 87.8 PERCENT OF TOTAL REVENUE

Posting a 25.2 percent upswing in receipts and chalking up an 87.8 percent share of aggregate earnings, Manufactured Goods grossed $2,192.69 million, up from $1,752.02 million a year earlier.

Agro-Based Products and Other Agro-Based Products ranked second among the major export groups and accounted for 7.0 percent of the total as sales grew by 12.0 percent to $176.0 million from $157.12 million last year.

Other major commodity groups and their respective earnings were: Special Transactions, $58.42 million; Mineral Products, $52.31 million; Petroleum Products, $17.70 million; and Forest Products, $1.42 million.

US-BOUND SHIPMENTS DOMINATE JULY EXPORTS

Exports to the United States grew by 22.7 percent to $930.78 million from $758.37 million a year earlier and accounted for 37.3 percent of the total receipts.

Japan was in second spot with a 14.2 percent share. Sales to Japan though fell by 4.1 percent to $355.26 million from $370.58 million last year.

Netherlands which bought $173.84 million worth of local goods was the third biggest market for the month with a 7.0 percent share.

Other major markets for July 1998 were: Taiwan, $151.83 million; Singapore, $142.69 million; United Kingdom of Great Britain, $140.90 million; Malaysia, $102.21 million; Hongkong, $99.47 million; Germany, $79.23 million; and Thailand, $51.75 million.

Total earnings from the top ten markets amounted to $2,227.96 million or 89.2 percent of the total.
 

Source: National Statistics Office
               Manila, Philippines

Page Last Updated: May 7, 2001