MERCHANDISE EXPORTS REGISTER 13.5 PERCENT YEAR-ON-YEAR DROP

Ten-month total dollar inflow from merchandise exports for January to October 2001 fell by 14.0 percent to $26.873 billion from $31.265 billion during the same period last year.

For October 2001, reported earnings went down by 13.5 percent to $2.939 billion from $3.398 billion during the same month last year.

ELECTRONIC COMPONENTS LEAD TOP EXPORTS DESPITE 26.0 PERCENT DECLINE

Receipts from Electronic Components, accounting for 51.6 percent of the aggregate export revenue for the month, declined by 26.0 percent to $1.515 billion from $2.048 billion last year.

Articles of Apparel and Clothing Accessories remained as the countrys second top earner with a combined share of 6.7 percent and an aggregate receipts of $196.81 million or 1.5 percent higher than $193.92 million a year ago.

Other Products Manufactured from Materials Imported on Consignments Basis combined for $48.84 million reflecting a 55.2 percent increase from $31.47 million last year.

Woodcrafts and Furniture ranked fourth with sales amounting to $34.20 million or a year-on-year decrease of 17.6 percent from $41.50 million.

Revenue from Coconut Oil dropped 21.9 percent to $32.79 million from $42.01 million during the same month of 2000.

Rounding-up the list of the top exports for the month of October 2001 were: Metal Components, $32.71 million; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, $32.24 million; Bananas Fresh, $26.44 million; Gold,$22.04 million; Cathodes & Sections of Cathodes, of Refined Copper, $19.86 million.

Aggregate receipts for the top ten exports amounted to $1.961 billion, or 66.7 percent of the total exports.

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

MANUFACTURED GOODS DECLINE BY 14.9 PERCENT

Accounting for 88.8 percent of the total receipts, exports ofManufactured Goods fell by 14.9 percent as sales settled at $2.609 billion, down from $3.064 billion during the same period last year.

Income from Special Transactions grew by 57.7 percent to $137.08 million, Agro-Based Products combined for $128.98 million or 4.4 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group went down by 15.6 percent from $152.84 million, while receipts from exports ofMineral Products went up by 35.2 percent to $52.09 million.

Petroleum Products contributed $9.79 million, while Forest Products chipped in with $1.75 million dollars.

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

EXPORTS TO US ACCOUNT FOR 27.0 PERCENT

Accounting for 27.0 percent of the countrys aggregate receipts for the month, exports to the United States valued at $794.69 million, went down by 20.6 percent from last year's reported figure of $1.001 billion.

Japan followed with a 14.2 percent share. Valued at $417.00 million, exports to Japan went down by 21.2 percent from $529.32 million.

Netherlands accounted for 9.4 percent of the total receipts, despite a 5.9 percent slowdown in receipts which amounted to $277.31 million, down from $294.78 million a year earlier.

Taiwan emerged as the fourth biggest market for the month as shipments of local goods amounted to $220.58 million or 7.5 percent of the total. Compared to the same month's last year figure however, receipts fell by 3.7 percent from $229.10 million. Other top markets for October 2001 were: Singapore, $195.67 million;Hongkong, $158.49 million; Malaysia, $121.70 million;Republic of Korea, $107.42 million; Thailand, $103.41 million; and Germany, $98.91 million.

Total export receipts from RPs top ten markets amounted to $2.495 billion or 84.9 percent of the total.

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

Source: National Statistics Office
              Manila, Philippines