ELECTRONIC PRODUCTS POST 30.6 PERCENT DECLINE

Accounting for 51.2 percent of the total exports revenue in August 2011, Electronic Products emerged as the country’s top export with total receipts of $2.074 billion. It decreased by 30.6 percent from $2.989 billion registered in August 2010.   On a monthly basis, Electronic Products, contracted by 8.0 percent from $2.253 billion posted in July 2011.

Among the major groups of electronic products, Components/Devices (Semiconductors) got the major share with 38.9 percent to total exports, posting a negative annual growth at 34.7 percent from $2.414 billion in August 2010 to $1.576 billion.

Articles of Apparel and Clothing Accessories followed as the second top export earner in August 2011 with total receipts of $173.44 million or a share of 4.3 percent to total exports revenue. It decline by 4.1 percent from its August 2010 level of $180.92 million.

Woodcrafts and Furniture ranked third with sales amounting to $165.94 million or a 4.1 percent share to total exports. This value increased by 70.7 percent from $97.19 million recorded in August 2010.

Ranked fourth in August 2011 and contributing 2.6 percent share to total export receipts was Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with earnings amounting to $104.79 million, declined by 2.3 percent from $107.23 million.

Coconut Oil, including crude and refined with 2.4 percent share to total export receipts ranked fifth with value posted at $95.32 million or a 27.9 percent year-on-year decline from $132.27 million in August 2010.

Rounding up the list of the top ten exports for the month of August 2011 were: Metal Components excluding brakes and servo-brakes with export revenue at $69.22 million decelerated by 1.9 percent; Cathodes and Section of Cathodes, of Refined Copper with export earnings worth $64.30 million up by 32.4 percent; Other Products Manufactured from Materials Imported on Consignment Basis with  export receipts worth $57.73 million dropped by 25.9 percent; Sugar with recorded sales amounting to $42.52 million registered the highest positive annual growth among the top ten exports at 201.3 percent and Pineapple and Pineapple Products with proceeds billed at $37.09 million was higher by 65.4 percent.

Total receipts from the top ten exports reached $2.884 billion, or 71.2 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $3.404 BILLION

Accounting for 84.0 percent of the total export receipts in August 2011, outward shipments of Manufactured Goods were estimated at $3.404 billion, representing a decrease of 18.3 percent from $4.167 billion recorded in August 2010. Month-on-month,  it went down by 5.3 percent from $3.595 billion recorded in July 2011.

Income from Total Agro-Based Products comprising 8.4 percent share to total exports revenue in August 2011 rose by 13.4 percent to $338.60 million from $298.58 million in August 2010.  On a monthly basis, it decelerated by 17.4 percent from $409.84 million in July 2011.

Earnings from Mineral Products with a 4.4 percent share in August 2011 reached $177.66 million. It expanded by 21.8 percent from $145.87 million in August 2010.  However, export receipts from Special Transactions reflecting 2.5 percent share to total exports was lower by 22.9 percent from $131.10 million to $101.12 million posted in August 2011.

Petroleum Products accounting for 0.6 percent share to total exports revenue fell by 15.7 percent from $29.04 million to $24.48 million in August 2011.  On the other hand, Forest Products with 0.2 percent share rose by 151.3 percent to $6.76 million from $2.69 million in August 2010.

EXPORTS TO JAPAN ACCOUNT FOR 16.1 PERCENT

Japan including Okinawa comprising 16.1 percent share to total exports for August 2011 emerged as the country’s top destination of exports with revenue amounting to $651.98 million. It was higher by 7.3 percent from $607.79 million recorded a year ago.

United States of America (USA) including Alaska and Hawaii with 15.1 percent share to total exports followed as the second top market of the country for August 2011 with export earnings worth $613.58 million. This represents a decrease of 4.5 percent from $642.49 million reported a year earlier.

People’s Republic of China accounting for 14.0 percent share to total exports came in third with shipments amounting to $568.55 million. This value contracted by 5.4 percent compared to its level a year ago at $601.10 million.

Singapore shares 8.5 percent to total exports in August 2011, ranking fourth with $343.59 million, a decline by 64.3 percent from $962.20 million in August 2010.

Fifth in rank and representing 8.4 percent share to total exports was Hong Kong with export earnings worth $341.90 million or a 15.5 percent drop from $404.63 million posted in August 2010.

Other top ten markets for August 2011 were Republic of Korea, $209.78 million (5.2%); Thailand, $183.71 million (4.5%); Netherlands, $160.24 million (4.0%); Taiwan, $156.33 million (3.9%); and Germany, $146.60 million (3.6%).

Total export receipts from the country’s top ten markets for the month of August 2011 amounted to $3.376 billion or 83.3 percent of the total.