ELECTRONIC PRODUCTS DECREASE BY 0.7 PERCENT

Accounting for 38.0 percent of the total exports revenue in May 2012, Electronic Products emerged as the country’s top export with total receipts of $1.872 billion. It went down by 0.7 percent from $1.886 billion registered in May 2011.   Compared to last month, Electronic Products expanded by 14.5 percent from $1.635 billion posted in April 2012. Components/Devices (Semiconductors) which comprised 28.7 percent of the total exports had the biggest share among the major groups of electronic products with export earnings worth $1.417 billion or an increase of 0.7 percent from $1.408 billion registered in May 2011.

Woodcrafts and Furniture followed as the second top export earner in May 2012 with total receipts of $175.67 million or a share of 3.6 percent to the total exports revenue. It contracted by 5.7 percent compared to May 2011 level of $186.34 million.

Articles of Apparel and Clothing Accessories, with 3.1 percent of total exports, was recorded as the country’s third top export with revenue valued at $150.46 million. It decreased by 5.9 percent from $159.93 million recorded during the same month in 2011.

Ranked fourth in April 2012 and contributing 2.8 percent share to the total export receipts was Metal Components with earnings amounting to $140.28 million. This figure exhibited the highest growth rate among the top ten exports by 162.4 percent from its year ago level of $53.46 million.

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 $128.79 million. It increased by 122.0 percent from $58.01 million recorded in May 2011.

Rounding up the list of the top ten exports for the month of May 2012 were Coconut Oil including crude and refined with export revenue of $101.25 million decreasing by 15.6 percent; Bananas (Fresh) with export receipts of $57.26 million, growing by 56.0 percent; Gold extracted from copper ores and concentrates with export earnings of $52.11 million increasing by 43.0 percent; Pineapple and Pineapple Products with recorded sales of $36.62 million, increasing by 50.4 percent; and Tuna which includes fresh, frozen, prepared or preserved in airtight containers  with proceeds billed at $33.29 million rising by 45.1 percent.

Total receipts from the top ten exports reached $2.748 billion, or 55.7 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $4.229 BILLION

Accounting for 85.8 percent of the total export receipts in May 2012, outward shipments of Manufactured Goods was estimated at $4.229 billion, representing an increase of 28.9 percent from $3.280 billion recorded in May 2011. Similarly on a monthly basis, it went up by 6.9 percent from $3.957 billion recorded in April 2012.

Income from Total Agro-Based Products comprising 6.7 percent share of the total exports revenue in May 2012 went down by 2.7 percent from $339.54 million to $330.29 million.  However, compared to its previous month level, it grew by 0.7 percent from $327.97 million in April 2012.

Earnings from Mineral Products with a share of 4.2 percent in May 2012 reached $206.91 million. It went down by 16.6 percent from $247.96 million in May 2011. On the other hand, export receipts from Special Transactions reflecting 2.8 percent share was higher by 4.6 percent to $140.43 million from $134.21 million in May 2011.

Petroleum Products accounting for 0.4 percent share of the total exports revenue decreased by 81.7 percent from $114.25 million to $20.87 million.  However, Forest Products with 0.1 percent share grew by 14.8 percent to $3.29 million in May 2012 from $2.87 million in May 2011.

EXPORTS TO JAPAN ACCOUNTS FOR 23.0 PERCENT

Japan including Okinawa getting 23.0 percent share of the total exports for May 2012 emerged as the country’s top destination of exports with revenue amounting to $1.133 billion. It was higher by 81.5 percent from $624.26 million recorded a year ago.

United States of America (USA) including Alaska and Hawaii with 14.5 percent share to total exports followed as the second top market of the country for May 2012 with export earnings worth $714.06 million. This represented an increase of 1.6 percent from $702.56 million reported a year earlier.

Thailand accounting for 11.5 percent share to total exports came in third with shipments amounting to $568.92 million. Compared to same month a year ago, this value expanded by 221.9 percent from $176.74 million.

People’s Republic of China ranked fourth in May 2012 with $560.18 million or 11.4 percent share of the total exports. The amount went up by 11.7 percent from last year’s amount of $501.37 million.

Fifth in rank and representing 7.0 percent share to total exports was Hong Kong with export earnings worth $347.17 million or an increase of 9.0 percent from $318.65 million posted in May 2011.

Other top ten markets for May 2012 were Singapore, $338.44 million; Germany, $149.40 million; Republic of Korea, $142.29 million; Taiwan, $140.27 million; and Netherlands, $132.09 million.

Total export receipts from the country’s top ten markets for the month of May 2012 amounted to $4.226 billion or 85.7 percent of the total.

EXPORTS TO EAST ASIA WORTH $2.325 BILLION

The merchandise exports of the Philippines to East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) in May 2012 accounted 47.2 percent share to total exports, amounting to $2.325 billion or an increase of 25.6 percent from its May 2011 figure of $1.852 billion.

Exports to ASEAN member-countries accounting for 22.5 percent share to total merchandise exports in May 2012 reached $1.111 billion, a 55.4 percent increase from $715.10 million recorded in May 2011.

Merchandise exports to European Union (EU), sharing 9.8 percent to total merchandise exports in May 2012 was valued at $481.20 million. It grew by 10.5 percent from $435.57 million posted in May 2011.

Technical Note:

Page last revised:  July 10, 2012