SUMMARY REPORT OF THE MERCHANDISE EXPORT PERFORMANCE FOR MAY 1998
(Preliminary)

JANUARY-MAY EXPORT REVENUE GROWS BY 20.3 PERCENT

Aggregate receipts from merchandise exports as of end-May grew by 20.3 percent to $11.515 billion from $9.571 billion a year earlier.

For May alone, total receipts increased by 21.8 percent to $2.415 billion from $1.983 billion last year.

ELECTRONICS AND COMPONENTS ACCOUNT FOR 45.1 PERCENT

Shipments of Electronics and Components, still the top dollar earner with a 45.1 percent share, grew by 21.7 percent to $1.088 billion from $894.62 million last year.

Accounting for 8.6 percent of the aggregate receipt, Articles of Apparel and Clothing was the second top earner for the month with sales amounting to $207.19 million, increasing by 9.13 percent over $ 189.87 million a year ago.

In third spot, Input/Output/Peripheral Units brought in $155.42 million which was 2.8 percent higher than the year-ago level of $151.14 million.

Revenue from Coconut Oil exports registered a 214.3 percent upturn as shipments amounted to $58.26 million, up from $18.54 million during the same month of 1997.

Earnings from Other Products Manufactured from Materials Imported on Consignment Basis posted a 53.0 percent increase from the year-ago value of $30.38 million. Sales amounted to $46.49 million, which was $16.11 million higher.

Earnings from Woodcraft and Furniture moved to number six despite a 13.5 percent increase to $39.46 million from $34.77 million last year.

Rounding up the list of the top exports for May 1998 were: Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, $38.99 million; Metal Components, $26.93 million; Gold, $24.91 million; and Fresh Bananas, $20.08 million.

Aggregate payment for the top ten exports for the month amounted to $1.706 billion, which was 70.7 percent of the total.

EXPORTS OF MANUFACTURED GOODS UP BY 16.0 PERCENT

Manufactured goods posted a 16.0 percent increase in revenue as sales reached $2,027.19 million, up from $1,748.12 million a year earlier. This major export group accounted for 84.0 percent of total receipts.

Income from Special Transactions, mostly re-exports, accounted for 6.3 percent of the total revenue and rose by 380.3 percent to $152.95 million from $31.85 million last year.

Other major commodity groups and their respective shares were Agro-based Products, $132.87 million; Mineral Products, $46.71 million; Other Agro-Based Products, $40.71 million; Petroleum Products, $12.22 million; and Forest Products, $2.04 million.

US TOP MARKET FOR MAY

Exports to the United States in May 1998 amounted to $792.99 million, posting an 18.0 percent growth from $672.08 million a year earlier.

Japan, in second spot with a 16.2 percent share, reported purchases valued at $390.32 million. Shipments grew by 18.4 percent from $329.57 million a year ago.

The third biggest market for the month was Singapore which bought $245.80 million worth of goods.

Other major markets for May 1998 were United Kingdom of Great Britain, $133.27 million; Netherlands, $ 117.13 million; Taiwan, $113.56 million; Hongkong, $94.88 million; Germany, $82.17 million; Malaysia, $71.15 million; and Republic of Korea, $47.28 million.

Total earnings from the top ten markets amounted to $2,088.55 million which was 86.5 percent of the total.