MERCHANDISE EXPORT PERFORMANCE *
January 2011
( Preliminary )

* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised

MERCHANDISE EXPORTS FOR JANUARY 2011 UP BY 11.8 PERCENT

The value of Philippine merchandise exports for January 2011 was estimated at $4.000 billion, an 11.8 percent increment from $3.579 billion recorded in January of 2010.   However, receipts from merchandise exports went down by 4.8 percent from $4.201 billion posted in December 2010.

ELECTRONIC PRODUCTS HIGHER BY 5.3 PERCENT

Accounting for 53.5 percent of the total exports revenue in January 2011, Electronic Products emerged as the country’s top export with total receipts of $2.142 billion. It rose by 5.3 percent from $2.034 billion registered in January 2010.   Month-on-month, Electronic Products, however, decreased by 5.1 percent from $2.256 billion posted in December 2010.  Components/Devices (Semiconductors) which comprised 39.7 percent of the total exports shared the biggest among the major groups of electronic products with export earnings worth $1.588 billion or an increase of 8.2 percent from $1.467 billion registered in January 2010.

Articles of Apparel and Clothing Accessories followed as the second top export earner in January 2011 with total receipts of $162.35 million or a share of 4.1 percent to the total exports revenue.

Coconut Oil, including crude and refined, recorded as the country’s third top gainer with revenue valued at $160.18 million (4.0%). It increased by 57.0 percent from $102.03 million recorded during the same month in 2010.

Ranked fourth in January 2011 and contributing 2.6 percent share to the total export receipts was Woodcrafts and Furniture with earnings amounting to $105.83 million. This figure expanded by 36.5 percent from its year ago level of $77.56 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with 2.4 percent share to the total export receipts ranked fifth with value posted at $95.88 million or an equivalent 30.3 percent increment from $73.60 million posted in January 2010.

Rounding up the list of the top ten exports for the month of January 2011 were Metal Components (excluding brakes and servo-brakes) with export revenue of $62.27 million grew by 12.1 percent; Petroleum Products (including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis) with export earnings of $41.14 million expanded by 36.3 percent; Gold (extracted from copper ores and concentrates) with export receipts of $41.00 million accelerated to 492.3 percent growth rate,  the highest annual growth from among the top ten exports; Bananas (Fresh) with recorded sales amounting to $39.85 million improved by 49.2 percent; and Other Products Manufactured from Materials Imported on Consignment Basis with proceeds billed at $35.51 million was lower by 32.4 percent.

.Total receipts from the top ten exports reached $2.886 billion, or 72.1 percent of the total exports.

Fig. 1  Philippine Top Five Exports: January 2011 and 2010
(F.O.B. Value in Million US Dollars)

EXPORTS OF MANUFACTURED GOODS STOOD AT $3.380 BILLION

Accounting for 84.5 percent of the total export receipts in January 2011, outward shipments of Manufactured Goods was estimated at $3.380 billion, representing an increase of 8.5 percent from $3.116 billion recorded in January 2010. Month-on-month, however, it went down by 1.5 percent from $3.430 billion recorded in December 2010.

Income from Total Agro-Based Products comprising 8.3 percent share of the total exports revenue in January 2011 rose by 57.8 percent to $332.15 million from $210.43 million in January 2010.  Compared to its previous month level, it increased by 11.4 percent from $298.16 million in December 2010.

Earnings from Mineral Products with a share of 3.1 percent in January 2011 reached $123.34 million. It swelled by 40.3 percent from $87.90 million in January 2010.  However, export receipts from Special Transactions reflecting 3.0 percent share was lower by 8.4 percent from $132.68 million posted in January 2010 to $121.48 million in January 2011.

Petroleum Products accounting for 1.0 percent share of the total exports revenue grew by 36.3 percent to $41.14 million from $30.17 million in January 2010.  Similarly, Forest Products with 0.1 percent share was higher by 19.6 percent to $2.60 million in January 2011 from $2.18 million in January 2010.

Fig. 2  Philippine Exports by Commodity Group: January 2011 and 2010
(F.O.B. Value in Million US Dollars)

EXPORTS TO USA ACCOUNTED FOR 15.1 PERCENT

United States of America (USA) including Alaska and Hawaii comprising 15.1 percent share to total exports for January 2011 emerged as the country’s top destination of exports with revenue amounting to $602.21 million. It was higher by 4.8 percent from $574.83 million recorded a year ago.

Singapore with 14.3 percent share to total exports followed as the second top market of the country for January 2011 with export earnings worth $573.61 million. This represents an increase of 62.0 percent from $354.09 million reported a year earlier.

Japan including Okinawa accounting for 14.1 percent share to total exports came in third with shipments amounting to $565.81 million. Compared to its January 2010 level, the amount diminished by 2.4 percent from $580.00 million.

People’s Republic of China ranked fourth in January 2011 with $468.18 million or 11.7 percent share of the total exports, expanded by 57.8 percent from it’s year ago value of $296.69 million.

Fifth in rank and representing 7.4 percent share to total exports was Hong Kong with export earnings worth $295.65 million or an increase of 23.5 percent from $239.34 million posted in January 2010.

Other top ten markets for January 2010 were Germany, $174.72 million; Republic of Korea, $169.58 million; Taiwan, $168.44 million; Netherlands, $165.21 million; and  Thailand, $148.63  million.

Total export receipts from the country’s top ten markets for the month of January 2011 amounted to $3.332 billion or 83.3 percent of the total.

Fig. 3  Philippine Top Exports by Country: January 2011

(F.O.B. Value in Million US Dollars)

EXPORTS TO EASTERN ASIA STOOD AT $1.670 BILLION

The Philippines’ merchandise exports to Eastern Asia in January 2011 contributed 41.8 percent share to total exports, amounting to $1.670 billion or an increase of 19.0 percent from its January 2010 figure of $1.404 billion.

Exports to ASEAN member-countries accounting for 22.0 percent share to total merchandise exports in January 2011 reached $879.58 million, a 34.9 percent annual growth from $651.95 million recorded in January 2010.

Merchandise exports to European Union (EU), on the other hand, sharing 13.9 percent to total merchandise exports in January 2011 was valued at $555.51 million. It declined by 22.4 percent from $715.46 million posted in January 2010.

Fig. 4  Philippine Exports by Selected Economic Bloc in January: 2011 & 2010
(F.O.B. Value in Million US Dollars)

Notes:

^1/  - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan

²/ - includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore,  Thailand, Vietnam

^3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland

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