ELECTRONIC PRODUCTS INCREASES BY 15.8 PERCENT

Accounting for 52.7 percent of the total exports revenue in February 2012, Electronic Products emerged as the country’s top export with total receipts of $2.333 billion. It went up by 15.8 percent from $2.015 billion registered in February 2011.   Similarly, month-on-month, Electronic Products, was up by 8.4 percent from $2.153 billion posted in January 2012. Components/Devices (Semiconductors) which comprised 37.9 percent of the total exports shared the biggest among the major groups of electronic products with export earnings worth $1.681 billion or an increase of 15.9 percent from $1.451 billion registered in February 2011.

Woodcrafts and Furniture followed as the second top export earner in February 2012 with total receipts of $165.53 million or a share of 3.7 percent to the total exports revenue. It rose by 20.2 percent compared to February 2011 level of $137.72 million.

Articles of Apparel and Clothing Accessories recorded as the country’s third top exporter with revenue valued at $146.19 million or a 3.3 percent share to total exports. It decreased by 4.7 percent from $153.41 million recorded during the same month in 2011.

Ranked fourth in February 2012 and contributing 2.5 percent share to the 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 $109.57 million. This figure expanded by 5.4 percent from its year ago level of $103.98 million.

Metal Components with 1.6 percent share to the total export receipts ranked fifth with value posted at $72.20 million. It declined by 5.2 percent from $76.15 million recorded value compared to February 2011.

Rounding up the list of the top ten exports for the month of February 2012 were Coconut Oil including crude and refined with export revenue of $64.33 million down by 47.9 percent; Gold extracted from copper ores and concentrates with export earnings of $63.40 million expanded by 1,414.0 percent, the highest annual growth among the top ten exports; Other Products Manufactured from Materials Imported on Consignment Basis with export receipts of $60.93 million accelerated by 40.7 percent; Cathodes and Section of Cathodes, of Refined Copper with recorded sales amounting to $40.32 million went down by 35.0 percent; and Bananas (Fresh) with proceeds billed at $32.04 million rose by 13.2 percent.

Total receipts from the top ten exports reached $3.088 billion, or 69.7 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STANDS AT $3.844 BILLION

Accounting for 86.8 percent of the total export receipts in February 2012, outward shipments of Manufactured Goods was estimated at $3.844 billion, representing an increase of 16.2 percent from $3.308 billion recorded in February 2011. On a monthly basis, it went up by 10.4 percent from $3.483 billion recorded in January 2012.

Income from Total Agro-Based Products comprising 5.4 percent share of the total exports revenue in February 2012 went down by 12.7 percent from $274.23 million to $239.39 million.  Compared to its previous month level, it slowed down by 18.0 percent from $291.74 million in January 2012.

Earnings from Mineral Products with a share of 4.2 percent in February 2012 reached $184.20 million. It expanded by 40.8 percent from $130.82 million in February 2011.  Similarly, export receipts from Special Transactions reflecting 3.3 percent share was higher by 25.6 percent to $146.62 million from $116.76 million in February 2011.

Petroleum Products accounting for 0.3 percent share of the total exports revenue decelerated by 61.6 percent from $33.36 million to $12.80 million.  However, Forest Products with less than 0.1 percent share grew by 93.2 percent to $3.25 million in February 2012 from $1.68 million in February 2011.

EXPORTS TO JAPAN ACCOUNT FOR 18.0 PERCENT

Japan including Okinawa comprising 18.0 percent share to total exports for February 2012 emerged as the country’s top destination of exports with revenue amounting to $796.56 million. It was higher by 19.7 percent from $665.70 million recorded a year ago.

United States of America (USA) including Alaska and Hawaii with 15.5 percent share to total exports followed as the second top market of the country for February 2012 with export earnings worth $687.64 million. This represents an increase of 11.5 percent from $616.89 million reported a year earlier.

People’s Republic of China accounting for 13.3 percent share to total exports came in third with shipments amounting to $588.89 million. Compared to same month a year ago, this value expanded by 35.7 percent from $433.98 million.

Hong Kong ranked fourth in February 2012 with $497.13 million or 11.2 percent share of the total exports which increased by 76.3 percent from it’s year ago amount of $282.06 million.

Fifth in rank and representing 7.8 percent share to total exports was Singapore with export earnings worth $346.93 million or a decrease of 7.7 percent from $375.71 million posted in February 2011.

Other top ten markets for February 2012 were Germany, $252.13 million; Thailand, $193.30 million; Taiwan, $145.97 million; Republic of Korea, $132.83 million; and Netherlands, $120.84 million.

Total export receipts from the country’s top ten markets for the month of February 2012 amounted to $3.762 billion or 84.9 percent of the total.

EXPORTS TO EAST ASIA WORTH $2.166 BILLION

The merchandise exports of the Philippines to East Asia in February 2012 accounted 48.9 percent share to total exports, amounting to $2.166 billion or an increase of 28.0 percent from its February 2011 figure of $1.692 billion.

Exports to ASEAN member-countries accounting for 16.8 percent share to total merchandise exports in February 2012 reached $743.19 million, a 3.5 percent decline from $770.22 million recorded in February 2011.

Merchandise exports to European Union (EU), on the other hand, sharing 12.8 percent to total merchandise exports in February 2012 was valued at $567.62 million. It expanded by 7.1 percent from $530.01 million posted in February 2011.

Technical Note:

Page last revised:  April 12, 2012