MERCHANDISE EXPORTS FOR JANUARY 2012 UP BY 3.0 PERCENT

The Philippine merchandise exports for January 2012 increased by 3.0 percent to $4.121 billion from $4.000 billion in January 2011 after a recorded decrease of eight months starting May 2011.   On a monthly basis, receipts from merchandise exports went up by 21.0 percent from $3.407 billion posted in December 2011.

ELECTRONIC PRODUCTS INCH BY 0.4 PERCENT

Accounting for 52.2 percent of the total exports revenue in January 2012, Electronic Products emerged as the country’s top export with total receipts of $2.152 billion. It rose by 0.4 percent from $2.142 billion registered in January 2011.   Month-on-month, Electronic Products increased by 35.1 percent from $1.593 billion posted in December 2011.  Components/Devices (Semiconductors) which comprised 37.8 percent of the total exports shared the biggest among the major groups of electronic products with export earnings worth $1.560 billion or a decrease of 1.8 percent from $1.588 billion registered in January 2011.

Woodcrafts and Furniture followed as the second top export earner in January 2012 with total receipts of $189.62 million or a share of 4.6 percent to the total exports revenue. It grew by 79.5 percent from last year’s value of $105.66 million.

Articles of Apparel and Clothing Accessories recorded as the country’s third top exporter with revenue valued at $170.87 million (4.1%). It increased by 5.2 percent from $162.37 million recorded during the same month in 2011.

Ranked fourth in January 2012 and contributing 2.6 percent share to the total export receipts was Cathodes & Sections Of Cathodes, Of Refined Copper with earnings amounting to $108.03 million. This figure expanded by 269.4 percent from its year ago level of $29.25 million, the highest increase in annual growth from among the top ten exports.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with 2.6 percent share to the total export receipts ranked fifth with value posted at $105.12 million or an equivalent 9.6 percent increment from $95.88 million posted in January 2011.

Rounding up the list of the top ten exports for the month of January 2012 were Coconut Oil, including crude and refined, with export revenue of $88.11 million lost by 45.0 percent; Metal Components (excluding brakes and servo-brakes), with export earnings of $75.90 million expanded by 21.9 percent from $62.27 million export receipt in January 2011; Other Products Manufactured from Materials Imported on Consignment Basis with recorded sales amounting to $54.21 million improved by 52.7 percent; Petroleum Products (including refined petroleum products manufactured from crude petroleum oil imported on consignment basis) with proceeds billed at $47.28 million was higher by 14.9 percent; and ; Pineapple and Pineapple Products valued at $31.99 million went up by 116.2 percent compared from previous year.

.Total receipts from the top ten exports reached $3.023 billion, or 73.3 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $3.482 BILLION

Accounting for 84.5 percent of the total export receipts in January 2012, outward shipments of Manufactured Goods was estimated at $3.482 billion, representing an increase of 3.0 percent from $3.380 billion recorded in January 2011. Month-on-month, it went up by about 27.0 percent from $2.742 billion recorded in December 2011.

Income from Total Agro-Based Products comprising 7.1 percent share of the total exports revenue in January 2012 was down by 12.2 percent to $291.48 million from $332.13 million in January 2011.   Compared to its previous month level, it declined by 8.6 percent from $318.75 million in December 2011.

Earnings from Mineral Products with a share of 4.1 percent in January 2012 reached $168.44 million. It grew by 36.6 percent from $123.34 million in January 2011.  Similarly, export receipts from Special Transactions reflecting 3.1 percent share was higher by 6.7 percent to $129.61 million posted in January 2012 from $121.47 million in January 2011.

EXPORTS TO JAPAN ACCOUNTS FOR 17.2 PERCENT

Japan including Okinawa comprising 17.2 percent share to total exports for January 2012 emerged as the country’s top destination of exports with revenue amounting to $706.92 million. It was higher by 11.3 percent from $634.87 million recorded a year ago.

People’s Republic of China accounting for 14.3 percent share to total exports came in third with shipments amounting to $589.99 million. Compared to its January 2011 level, the amount was higher by 26.2 percent from $467.55 million.

Hong Kong ranked fourth in January 2012 with $359.37 million or 8.7 percent share of the total exports, expanded by 43.4 percent from its year ago value of $250.65 million.

Fifth in rank and representing 8.2 percent share to total exports was Singapore with export earnings worth $339.42 million or an increase of 42.9 percent from $237.49 million posted in January 2011.

Other top ten markets for January 2012 were Germany, $251.86 million; Republic of Korea, $171.51 million; Thailand, $154.07 million; Taiwan, $149.26 million; and Netherlands, $113.35 million.

Total export receipts from the country’s top ten markets for the month of January 2012 amounted to $3.493 billion or 84.8 percent of the total.

EXPORTS TO EAST ASIA STAND AT $1.981 BILLION

The Philippines’ merchandise exports to East Asia in January 2012 contributed 48.1 percent share to total exports, amounting to $1.981 billion or an increase of 18.6 percent from its January 2011 figure of $1.670 billion.

Exports to ASEAN member-countries accounting for 17.0 percent share to total merchandise exports in January 2012 reached $698.75 million, a negative 20.6 percent annual growth from $879.71 million recorded in January 2011.

Merchandise exports to European Union (EU), on the other hand, sharing 13.6 percent to total merchandise exports in January 2012 was valued at $559.12 million. It increased by 0.6 percent from $555.52 million posted in January 2011.

Page last revised:  March 13, 2012