ELECTRONIC PRODUCTS DECLINE BY 26.2 PERCENT

Accounting for 46.0 percent of the total exports revenue in May 2011, Electronic Products emerged as the country’s top export with total receipts of $1.886 billion. It decreased by 26.2 percent from $2.554 billion registered in May 2010.   Similarly, on a monthly basis, Electronic Products, contracted by 3.7 percent from $1.959 billion posted in April 2011.

Among the major groups of electronic products, Components/Devices (Semiconductors) got the major share with 34.3 percent to total exports, posting a negative annual growth at 25.1 percent from $1.878 billion in May 2010 to $1.408 billion.

Woodcrafts and Furniture followed as the second top export earner in May 2011 with total receipts of $186.33 million or a share of 4.5 percent to total exports revenue. It grew by 98.1 percent from its May 2010 level of $94.05 million.

Articles of Apparel and Clothing Accessories recorded as the country’s third top gainer in May 2011 with revenue valued at $159.93 million (3.9%). This value increased by 6.0 percent from $150.95 million recorded in May 2010.

Ranked fourth in May 2011 and contributing 2.9 percent share to total export receipts was Coconut Oil, including crude and refined with earnings amounting to $119.99 million. This figure expanded by 9.0 percent from its year ago level of $110.13 million.

Petroleum Products including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis with 2.8 percent share to total export receipts ranked fifth with value posted at $114.25 million, registered the highest positive annual growth of 441.4 percent among the top ten exports from $21.10 million in May 2010.

Rounding up the list of the top ten exports for the month of May 2011 were Cathodes and Section of Cathodes, of Refined Copper with export revenue of $106.69 million accelerated by 119.6 percent; Other products manufactured from materials imported on consignment basis with export earnings worth $63.89 million improved by 15.1 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with export receipts of $57.69 million dropped by 35.6 percent; Metal Components excluding brakes and servo-brakes with recorded sales amounting to $53.42 million decelerated by 21.9 percent; and Copper Concentrates with proceeds billed at $41.83 million was higher by 212.0 percent.

Total receipts from the top ten exports reached $2.790 billion, or 68.0 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $3.276 BILLION

Accounting for 79.8 percent of the total export receipts in May 2011, outward shipments of Manufactured Goods was estimated at $3.276 billion, representing an 11.4 percent decline from $3.697 billion recorded in May 2010. Month-on-month, however, it went up by 1.4 percent from $3.231 billion recorded in April 2011.

Income from Total Agro-Based Products comprising 8.3 percent share to total exports revenue in May 2011 rose by 40.2 percent to $339.32 million from $242.02 million in May 2010.  On a monthly basis, it lowered by 13.9 percent from $394.05 million in April 2011.

Earnings from Mineral Products with a 5.8 percent share in May 2011 reached $237.42 million. It expanded by 81.2 percent from $130.99 million in May 2010.  However, export receipts from Special Transactions reflecting 3.3 percent share to total exports diminished by 7.2 percent from $144.71 million posted in May 2010 to $134.24 million.

Petroleum Products accounting for 2.8 percent share to total exports revenue accelerated by 441.4 percent to $114.25 million from $21.10 million in May 2010.  On the contrary, Forest Products with less than 0.1 percent share was lower by 44.4 percent from $5.16 million in May 2010 to $2.87 million in May 2011.

EXPORTS TO USA ACCOUNTS FOR 17.1 PERCENT

United States of America (USA) including Alaska and Hawaii comprising 17.1 percent share to total exports for May 2011 emerged as the country’s top destination of exports with revenue amounting to $700.76 million. It was higher by 1.9 percent from $687.53 million recorded a year ago.

Japan including Okinawa with 15.2 percent share to total exports followed as the second top market of the country for May 2011 with export earnings worth $624.27 million. This represents an increase of 1.2 percent from $616.93 million reported a year earlier.

People’s Republic of China accounting for 11.9 percent share to total exports came in third with shipments amounting to $490.23 million. Compared to its level a year ago,   it expanded by 25.9 percent from $389.23 million.

Singapore sharing 9.2 percent to total exports in May 2011 ranked fourth with $376.38 million, a 14.9 percent decline from  $442.51 million in May 2010.

Fifth in rank and representing 7.8 percent share to total exports was Hong Kong with export earnings worth $318.65 million or an 11.6 percent drop from $360.64 million posted in May 2010.

Other top ten markets for May 2011 were Republic of Korea, $202.29 million (4.9%); Taiwan, $200.37 million (4.9%); Thailand, $176.70 million (4.3%); Germany, $147.72 million (3.6%); and Netherlands, $124.54 million (3.0%).

Total export receipts from the country’s top ten markets for the month of May 2011 amounted to $3.362 billion or 81.9 percent of the total.