MERCHANDISE EXPORT PERFORMANCE *
January 2009

( Preliminary )

* Includes transactions that passed through Automated Export Documentation System (AEDS).

p - preliminary
r - revised

JANUARY 2009 MERCHANDISE EXPORTS FELL BY 41.0 PERCENT

Export earnings in January 2009 dropped by 41.0 percent to $2.494 billion from $4.231 billion in January 2008. Compared with the previous month's level, it fell by 6.75 percent from $2.675 billion.

ELECTRONIC PRODUCTS DOWN BY 48.4 PERCENT

Accounting for 53.9 percent of the aggregate export revenue in January 2009, Electronic Products amounted to $1.345 billion. It declined by 48.4 percent from $2.609 billion in January 2008. However, month-on-month, it increased slightly by 0.8 percent from $1.335 billion recorded in December 2008.

Articles of Apparel and Clothing Accessories emerged as the RP's second top earner in January 2009 with a combined share of 5.4 percent and an aggregate receipt of $134.50 million. It decreased by 21.6 percent over last year's figure of $171.48 million.

Woodcrafts and Furniture followed as the third top earner in January 2009 with total revenue of $78.95 million or a share of 3.2 percent to the total export receipts. It gained by 7.5 percent from $73.46 million in January 2008.

Ranked fourth in January 2009 and contributing 1.9 percent to the total export receipts was Other Products Manufactured from Materials Imported on Consignment Basis with sales amounting to $48.28 million, higher by 15.6 percent from $41.78 million recorded a year earlier.

Gold (extracted from copper ores and concentrates), with 1.8 percent share to the total export receipts, ranked fifth with revenue amounting to $44.70 million. It rose by 5.7 percent from $42.28 million recorded in January 2008.

Rounding up the list of the top ten exports for the month of January 2009 were Cathodes and Sections of Cathodes, of Refined Copper with receipts of $41.12 million which fell by 53.9 percent; Bananas (fresh) valued at $34.50 million, rose by 24.3 percent; Metal Components (excluding brakes and servo ' brakes) with receipts of $31.55 million or year-on-year negative growth of 28.1 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles) with proceeds billed at $27.96 million or a decrease of 60.3 percent; and Tuna (including fresh, frozen, prepared or preserved in airtight containers) with export revenue of $22.60 million which accelerated by 70.2 percent from January 2008 level .

Total receipts from the top ten exports reached $1.810 billion, or 72.6 percent of the total exports.

Fig. 1 Philippine Top Five Exports: January 2009 and 2008
(F.O.B. Value in Million US Dollars)

EXPORTS OF MANUFACTURED GOODS STANDS AT $2.116 BILLION

Accounting for 84.8 percent of the total receipts, exports of Manufactured Goods in January 2009 amounted to $2.116 billion or a decrease of 39.9 percent from $3.521 recorded a year earlier. The same was true with the previous month's level, where it fell by 4.7 percent from $2.221 billion.

Income from All Agro-Based Products in January 2009 amounting to $147.15 million or 5.9 percent share of the total exports revenue, decreased by 38.5 percent from $239.27 million in January 2008.

Earnings from Mineral Products comprising 4.2 percent share of the total exports revenue in January 2009 reached $103.81 million. It fell by 43.8 percent from $184.86 million in January 2008.

Receipts from Petroleum Products with 0.5 percent share of the total exports revenue totaled to $13.52 million in January 2009, decelerated by 87.3 percent from $106.42 million in January 2008. Similarly, exports revenue of Forest Products with 0.1 percent share of the total, plunged by 56.9 percent to $1.33 million from $3.09 million recorded a year ago.

Export receipts from Special Transactions with a share of 4.5 percent decreased by 36.0 percent to $112.36 million from $175.66 million in January 2008.

Fig. 2 Philippine Exports by Commodity Group: January 2009 and 2008
(F.O.B. Value in Million US Dollars)

EXPORTS TO UNITED STATES OF AMERICA ACCOUNT FOR 18.3 PERCENT

United States of America (USA) remained the top market of the country for January 2009 with export receipts of $456.70 million, accounting for 18.3 percent of the country's aggregate income for the month. It decreased by 33.6 percent from $687.86 million recorded a year earlier.

Japan followed as the second top market of the country for January 2009 with export earnings of $378.54 million or 15.2 percent share of the total exports, lower by 39.7 percent from $627.23 million in January 2008.

Germany emerged as the third biggest market for January 2009 with shipments amounting to $241.27 million or 9.7 percent of the total exports, up by 7.3 percent from a year ago level of $224.92 million.

Netherlands ranked fourth in January 2009 with $225.84 million or 9.1 percent of the total exports, a decline of 38.8 percent from $369.12 million in January 2008.

Other top ten markets for January 2009 were Hongkong, $200.44 million; People's Republic of China, $162.77 million; Singapore, $120.42 million; Taiwan, $119.08 million; Republic of Korea, $105.18 million; and Thailand, $72.61 million.

Total export receipts from RP's top ten markets for the month of January 2009 amounted to $2.083 billion or 83.5 percent of the total.

Fig. 3 Philippine Top Exports by Country: January 2008
(F.O.B. Value in Million US Dollars)

Technical Note:

Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999). This is in compliance with NSCB Resolution No. 03, Series of 2005 entitled "Approving and Adopting the 2004 Philippine Standard Commodity Classification" by all concerned government agencies and instrumentalities.

(Sgd.) CARMELITA N. ERICTA
Administrator

Source: Foreign Trade Statistics Section
             Industry and Trade Statistics Department
             National Statistics Office
             Manila, Philippines