ELECTRONIC PRODUCTS INCREASE BY 1.1 PERCENT

Accounting for 52.6 percent of the total exports revenue in March 2012, Electronic Products emerged as the country’s top export with total receipts of $2.263 billion. It went up by 1.1 percent from $2.239 billion registered in March 2011.   However, month-on-month, Electronic Products, were down by 3.1 percent from $2.334 billion posted in February 2012. Components/Devices (Semiconductors) which comprised 38.9 percent of the total exports had the biggest share among the major groups of electronic products with export earnings worth $1.672 billion or a decrease of 3.0 percent from $1.724 billion registered in March 2011.

Articles of Apparel and Clothing Accessories followed as the second top export earner in March 2012 with total receipts of $152.28 million or a share of 3.5 percent to the total exports revenue. It rose by 2.3 percent compared to March 2011 level of $148.82 million.

Woodcrafts and Furniture, consisting 3.5 percent to total exports recorded as the country’s third top export with revenue valued at $151.30 million. It increased by 6.3 percent from $142.34 million recorded during the same month in 2011.

Ranked fourth in March 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 $108.97 million. This figure expanded by 13.9 percent from its year ago level of $95.69 million.

Coconut Oil including crude and refined with 2.1 percent share to the total export receipts ranked fifth with value posted at $89.99 million. It declined by 50.9 percent from $183.19 million recorded in March 2011.

Rounding up the list of the top ten exports for the month of March 2012 were Metal Components with export revenue of $83.72 million up by 22.9 percent; Petroleum Products including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis with export earnings of $63.81 million and which contracted by 16.5 percent; Other Products Manufactured from Materials Imported on Consignment Basis with export receipts of $52.62 million, accelerating by 16.7 percent; Bananas (Fresh) with recorded sales of $51.15 million, moving up by 48.1 percent; and Tuna including fresh, frozen, prepared or preserved in airtight containers with proceeds billed at $38.33 million rising by 56.0 percent, the highest increase in annual growth rate among the top ten exports.

Total receipts from the top ten exports reached $3.055 billion, or 71.0 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STANDS AT $3.677 BILLION

Accounting for 85.5 percent of the total export receipts in March 2012, outward shipments of Manufactured Goods was estimated at $3.677 billion, representing an increase of 3.8 percent from $3.542 billion recorded in March 2011. On a monthly basis, it went down by 4.4 percent from $3.844 billion recorded in February 2012.

Income from Total Agro-Based Products comprising 6.9 percent share of the total exports revenue in March 2012 went down by 13.3 percent from $340.10 million to $294.77 million.  Compared to its previous month level, it grew by 23.1 percent from $239.38 million in February 2012.

Earnings from Mineral Products with a share of 3.1 percent in March 2012 reached $133.10 million. It went down by 48.7 percent from $259.25 million in March 2011.  Similarly, export receipts from Special Transactions reflecting 3.0 percent share was lower by 5.1 percent from about $137.00 million to $130.09 million in March 2012.

Petroleum Products accounting for 1.5 percent share of the total exports revenue decelerated by 16.5 percent from $76.43 million to $63.81 million.  However, Forest Products with less than 0.1 percent share grew by 99.6 percent to $3.58 million in March 2012 from $1.79 million in March 2011.

EXPORTS TO USA ACCOUNT FOR 15.5 PERCENT

United States of America (USA) including Alaska and Hawaii getting 15.5 percent share of the total exports for March 2012 emerged as the country’s top destination of exports with revenue amounting to $668.25 million. It was higher by 9.6 percent from $609.93 million recorded a year ago.

Japan including Okinawa with 15.5 percent share to total exports followed as the second top market of the country for March 2012 with export earnings worth $664.78 million. This represented a decrease of 12.6 percent from $760.73 million reported a year earlier.

People’s Republic of China accounting for 14.9 percent share to total exports came in third with shipments amounting to $642.07 million. Compared to same month a year ago, this value expanded by 27.8 percent from $502.58 million.

Singapore ranked fourth in March 2012 with $410.35 million or 9.5 percent share of the total exports but the amount went down by 0.5 percent from it’s year ago amount of $412.26 million.

Fifth in rank and representing 9.1 percent share to total exports was Hong Kong with export earnings worth $392.12 million or a decrease of 9.4 percent from $432.73 million posted in March 2011.

Other top ten markets for March 2012 were Taiwan, $180.75 million; Thailand, $165.79 million; Netherlands, $152.25 million; Republic of Korea, $129.13 million; and Germany, $125.39 million.

Total export receipts from the country’s top ten markets for the month of March 2012 amounted to $3.531 billion or 82.1 percent of the total.

EXPORTS TO EAST ASIA WORTH $2.012 BILLION