ELECTRONIC PRODUCTS DROP BY 34.5 PERCENT

Accounting for 45.8 percent of the total exports revenue in November 2011, Electronic Products emerged as the country’s top export with total receipts of $1.529 billion. It decreased by 34.5 percent from $2.333 billion registered in November 2010.   On a monthly basis, Electronic Products, declined by 19.3 percent from $1.896 billion posted in October 2011.

Among the major groups of electronic products, Components/Devices (Semiconductors) got the major share with 36.3 percent to total exports, posting a negative annual growth at 29.5 percent from $1.721 billion in November 2010 to $1.213 billion.

Woodcrafts and Furniture followed as the second top export earner in November 2011 with total receipts of $173.93 million or a share of 5.2 percent to total exports revenue. It expanded by 29.6 percent from its November 2010 level of $134.16 million.

Articles of Apparel and Clothing Accessories ranked third with sales amounting to $130.76 million or an equivalent share of 3.9 percent to total exports. This value decreased by 5.4 percent from $138.20 million posted in November 2010.

Ranked fourth in November 2011 and contributing 3.1 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 export earnings worth $103.31 million. Receipts rose by 9.3 percent from $94.55 million.

Cathodes and Section of Cathodes, of Refined Copper with 1.9 percent share to total export receipts ranked fifth with value posted at $65.07 million or an 80.8 percent year-on-year growth from $36.00 million in November 2010.

Rounding up the list of the top ten exports for the month of November 2011 were: Coconut Oil, including crude and refined with export revenue at $58.81 million, decelerating by 26.1 percent; Sugar with export earnings worth $57.45 million accelerating by more than a hundred percent, the highest positive annual growth among the top ten exports in November 2011; Gold, extracted from copper ores and concentrates with export receipts worth $53.62 million, rising by 31.1 percent; Other Products Manufactured from Materials Imported on Consignment Basis with recorded sales amounting to $49.99 million contracting by 21.7 percent; and Metal Components excluding brakes and servo-brakes with proceeds billed at $48.97 million, diminishing by 25.8 percent.

Total receipts from the top ten exports reached $2.271 billion, or about 68.0 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $2.703 BILLION

Accounting for 80.9 percent of the total export receipts in November 2011, outward shipments of Manufactured Goods were estimated at $2.703 billion, a 23.9 percent decrement from $3.553 billion recorded in November 2010. Compared to previous month’s level, revenue for export of manufactured goods went down by 18.2 percent from $3.306 billion recorded in October 2011.

Income from Total Agro-Based Products comprising 9.4 percent share to total exports revenue in November 2011 rose by 40.1 percent to $315.72 million from $225.28 million in November 2010.  On a monthly basis, it slowed down by 12.3 percent from $359.89 million recorded in October 2011.

Earnings from Mineral Products with a 5.7 percent share in November 2011 reached $191.19 million. It increased by 18.1 percent from $161.92 million in November 2010.  However, export receipts from Special Transactions reflecting 3.2 percent share to total exports lowered by 17.1 percent from $130.88 million posted in November 2010 to $108.51 million.

Petroleum Products accounting for 0.5 percent share to total exports revenue reduced by about 77.0 percent from $72.00 million in November 2010 to $16.57 million while Forest Products with 0.2 percent share rose by 159.2 percent to about $7.80 million from $3.01 million in November 2010.

EXPORTS TO JAPAN ACCOUNT FOR 21.6 PERCENT

Japan including Okinawa getting 21.6 percent share of the total exports for November 2011 emerged as the country’s top destination of exports with revenue amounting to $722.14 million. This value went up by 8.1 percent from $668.27 million recorded a year ago.

United States of America (USA) including Alaska and Hawaii with about 15.0 percent share of total exports followed as the second top market of the country for November 2011 with export earnings worth $500.88 million. This represented an increase of 2.5 percent from $488.69 million reported a year earlier.

People’s Republic of China accounting for 13.7 percent share of total exports came in third with shipments amounting to $457.84 million or a 30.0 percent year-on-year decline compared to its previous year’s level at $654.11 million.

Hong Kong’s share of 7.1 percent to total exports in November 2011, ranked fourth with $236.36 million, a decline by 41.9 percent from $406.64 million in November 2010.

Fifth in rank and representing a 5.6 percent share to total exports was Republic of Korea with export earnings worth $187.59 million or about 25.0 percent increment from $150.08 million posted in November 2010.

Other top ten export markets for November 2011 were Singapore, $184.86 million (5.5%); Taiwan, $130.78 million (3.9%); Germany, $121.99 million (3.6%); Thailand, $103.10 million (3.1%); and Netherlands, $85.02 million (2.5%).

Total export receipts from the country’s top ten markets for the month of November 2011 amounted to $2.731 billion or 81.7 percent of the total.

EXPORTS TO EAST ASIA REACH $1.739 BILLION

Merchandise exports to East Asia comprising 52.0 percent of the total Philippine exports in November 2011 were estimated at $1.739 billion, lower by 16.1 percent from its year ago level at $2.073 billion.

Meanwhile, exports to ASEAN member-countries with a share of 14.3 percent to total PH exports in November 2011 went down by 41.5 percent from $815.22 million in November 2010 to $476.84 million. Similarly, exports to European Union (EU) representing 11.3 percent to total PH exports in November 2011 fell by 23.8 percent from $275.27 million in November 2010 to $249.94 million.

Technical Note:

Page last revised:  January 10, 2012