MERCHANDISE EXPORTS REGISTER 24.4 PERCENT DECREASE

Receipts from merchandise exports for January to December 2001 declined by 15.6 percent to $32.148 billion from $38.078 billion during the same period a year earlier.

For December 2001, reported earnings went down by 24.4 percent to $2.643 billion from $3.496 billion during the same month a year ago.

ELECTRONIC COMPONENTS DECREASE BY 34.6 PERCENT

Receipts from Electronic Components, accounting for 51.4 percent of the aggregate export revenue for the month, declined by 34.6 percent to $1.358 billion from $2.075 billion last year.

Articles of Apparel and Clothing Accessories remained as the countrys second top earner with a combined share of 8.2 percent and an aggregate receipt of $217.63 million or 17.5 percent lower than $263.80 million a year ago.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, ranked third with a total revenue of $36.87 million reflecting a 27.0 percent decrease from $50.50 million last year.

Petroleum Products ranked fourth with sales amounting to $33.22 million or a year-on-year decrease of 9.6 percent from $36.76 million.

Revenue from Woodcrafts and Furniture dropped by 57.6 percent to $31.61 million from $74.63 million during the same month of 2000.

Rounding-up the list of the top exports for the month of December 2001 were: Other Products Manufactured from Materials Imported on Consignments Basis, $30.62 million; Coconut Oil, $30.23 million;, Metal Components, $27.02 million; Cathodes & Sections of Cathodes, of Refined Copper, $20.22 million; andPineapple and Pineapple Products, $18.33 million.

Aggregate receipts for the top ten exports amounted to $1.803 billion, or 68.2 percent of the total exports.

Fig. 1. Philippine Top Exports in December : 2000 & 2001
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS DECLINE BY 25.3 PERCENT

Accounting for 89.1 percent of the total receipts, exports ofManufactured Goods decreased by 25.3 percent as sales reached $2.354 billion, down from $3.151 billion during the same period last year.

Income from Agro-Based Products, combined for $117.49 million or 4.4 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group declined by 30.9 percent from $169.91 million.

Special Transactions increased by 55.9 percent to $104.67 million while receipts from exports of Mineral Products went down by 52.5 percent to $33.12 million.

Petroleum Products contributed $33.49 million, while Forest Products chipped in with $0.41 million dollars.

Fig. 2. Philippine Exports by Commodity Group in December: 2000 & 2001
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 26.4 PERCENT

Accounting for 26.4 percent of the countrys aggregate receipts for the month, exports to the United States valued at $697.50 million, decreased by 42.0 percent from last year's reported figure of $1.202 billion.

Japan followed with a 14.2 percent share. Valued at $375.56 million, exports to Japan went down by 32.1 percent from $552.82 million.

Netherlands accounted for 10.5 percent of the total receipts, contributed $277.40 million reflecting an 2.0 percent decrease from $282.92 million a year earlier.

Taiwan emerged as the fourth biggest market for the month as shipments of local goods amounted to $188.41 million or 7.1 percent of the total. Compared to the same month's last year figure, receipts went down by 12.7 percent from $215.79 million. Other top markets for December 2001 were: Singapore, $180.14 million; Hongkong,$133.36 million; Republic of Korea, $116.93 million; Peoples Republic of China, $92.93 million; Malaysia, $92.85 million; andGermany, $89.98 million.

Total export receipts from RPs top ten markets amounted to $2.245 billion or 84.9 percent of the total.

Fig. 3. Philippine Top Exports by Country in December, 2001
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines