ELECTRONIC PRODUCTS DROP BY 21.3 PERCENT

Accounting for 50.9 percent of the total exports revenue in July 2011, Electronic Products emerged as the country’s top export with total receipts of $2.253 billion. It decreased by 21.3 percent from $2.862 billion registered in July 2010.   However, on a monthly basis, Electronic Products, expanded by 2.0 percent from $2.210 billion posted in June 2011.

Among the major groups of electronic products, Components/Devices (Semiconductors) got the major share with 34.5 percent to total exports, posting a negative annual growth at 33.5 percent from $2.298 billion in July 2010 to $1.529 billion.

Articles of Apparel and Clothing Accessories followed as the second top export earner in July 2011 with total receipts of $189.03 million or a share of 4.3 percent to total exports revenue. It grew by 30.1 percent from its July 2010 level of $145.31 million.

Woodcrafts and Furniture ranked third with sales amounting to $166.12 million or a 3.7 percent share to total exports. This value increased by 68.9 percent from $98.34 million recorded in July 2010.

Ranked fourth in July 2011 and contributing 3.4 percent share to total export receipts was Coconut Oil including crude and refined with earnings amounting to $149.70 million. This figure registered an annual growth of 8.5 percent from its year ago level of $138.02 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with 2.3 percent share to total export receipts ranked fifth with value posted at $103.62 million or a 0.6 percent year-on-year growth from $102.96 million in July 2010.

Rounding up the list of the top ten exports for the month of July 2011 were: Cathodes and Section of Cathodes, of Refined Copper with export revenue of $94.95 million accelerated by 49.1 percent; Metal Components excluding brakes and servo brakes with export earnings worth $73.27 million improved by 20.7 percent; Gold extracted from copper ores and concentrates with export receipts of $57.84 million recorded the highest positive annual growth among the top ten exports at 273.1 percent; Other Products Manufactured from Materials Imported on Consignment Basis with recorded sales amounting to $50.45 million contracted by 25.0 percent; and Bananas (Fresh) with proceeds billed at $43.77 million was higher by 45.8 percent.

Total receipts from the top ten exports reached $3.182 billion, or 71.8 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $3.596 BILLION

Accounting for 81.2 percent of the total export receipts in July 2011, outward shipments of Manufactured Goods were estimated at $3.596 billion, representing an 8.9 percent decline from $3.947 billion recorded in July 2010. Month-on-month, however, it went up by 6.9 percent from $3.362 billion recorded in June 2011.

Income from Total Agro-Based Products comprising 9.3 percent share to total exports revenue in July 2011 rose by 50.2 percent to $410.03 million from $273.06 million in July 2010.  Similarly on a monthly basis, it went up by 53.0 percent from $267.91 million in June 2011.

Earnings from Mineral Products with a 5.5 percent share in July 2011 reached $245.56 million. It expanded by 82.6 percent from $134.51 million in July 2010.  On the contrary, export receipts from Special Transactions reflecting 3.1 percent share to total exports rose by 15.3 percent to $139.10 million posted from $120.67 million in July 2010.

Petroleum Products accounting for 0.8 percent share to total exports revenue hastened by 22.9 percent to $35.08 million from $28.54 million in July 2010.  Similarly, Forest Products with 0.1 percent share accelerated by 161.7 percent to $4.41 million from $1.68 million in July 2010.

EXPORTS TO JAPAN ACCOUNT FOR 23.8 PERCENT

Japan including Okinawa comprising 23.8 percent share to total exports for July 2011 emerged as the country’s top destination of exports with revenue amounting to $1.054 billion. It was higher by 84.7 percent from $570.99 million recorded a year ago.

United States of America (USA) including Alaska and Hawaii with 14.7 percent share to total exports followed as the second top market of the country for July 2011 with export earnings worth $651.52 million. This represents a decrease of 9.5 percent from $720.11 million reported a year earlier.

People’s Republic of China accounting for 12.3 percent share to total exports came in third with shipments amounting to $546.55 million. Compared to its level a year ago, it expanded by 38.7 percent from $394.05 million.

Singapore sharing 7.9 percent to total exports in July 2011 ranked fourth with $351.26 million, down by 55.7 percent from $793.75 million in July 2010.

Fifth in rank and representing 6.5 percent share to total exports was Hong Kong with export earnings worth $289.68 million or a 29.4 percent drop from $410.29 million posted in July 2010.

Other top ten markets for July 2011 were Netherlands, $178.97 million (4.0%); Taiwan, $164.51 million (3.7%); Thailand, $157.38 million (3.6%); Germany, $145.34 million (3.3%); and Republic of Korea, $129.69 million (2.9%).

Total export receipts from the country’s top ten markets for the month of July 2011 amounted to $3.669 billion or 82.8 percent of the total.