ELECTRONIC PRODUCTS DECREASE BY 14.6 PERCENT

Accounting for 43.8 percent of the total exports revenue in June 2012, Electronic Products emerged as the country’s top export with total receipts of $1.886 billion. It went down by 14.6 percent from $2.210 billion registered in June 2011. However, volume of exported electronic products grew by 10.9 percent compared to same period last year. Month on month, Electronic Products rose by 0.7 percent from $1.872 billion posted in May 2012. Components/Devices (Semiconductors) which comprised 34.8 percent of the total exports had the biggest share among the major groups of electronic products with export earnings worth $1.502 billion or an increase of 2.2 percent from $1.470 billion registered in June 2011.

Woodcrafts and Furniture followed as the second top export earner in June 2012 with total receipts of $158.25 million or a share of 3.7 percent to the total exports revenue. It expanded by 5.9 percent compared to same month a year ago level of $149.49 million.

Metal Components, with 3.5 percent share in the total value of exports for June 2012, was recorded as the country’s third top export with revenue valued at $149.43 million. This figure exhibited the highest growth rate among the top ten exports by 152.9 percent from it’s a year ago level of $59.10 million. This can be attributed to the increased in volume that grew by 40.5 percent from same period last year. Similarly, compared to previous month, it went up by 7.0 percent from $139.64 million.

Ranked fourth in June 2012 and contributing 3.5 percent share to the total export receipts were Articles of Apparel and Clothing Accessories with earnings amounting to $148.88 million. It decreased by 7.1 percent from $160.20 registered in June 2011.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with 2.8 percent share to the total export receipts ranked fifth with value posted at $121.78 million. It increased by 89.1 percent from $64.39 million recorded in June 2011.

Rounding up the list of the top ten exports for the month of June 2012 were Coconut Oil including crude and refined with export revenue of $103.71 million increasing by 53.8 percent; Bananas (Fresh) with export receipts of $46.46 million, growing by 3.1 percent; Gold extracted from copper ores and concentrates with export earnings of $46.08 million decreasing by 11.4 percent; Tuna which includes fresh, frozen, prepared or preserved in airtight containers with recorded sales of $35.19 million, increasing by 24.1 percent; and Pineapple and Pineapple Products with proceeds billed at $32.04 million rising by 17.2 percent.

Total receipts from the top ten exports reached $2.728 billion, or 63.3 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $3.552 BILLION

Accounting for 82.4 percent of the total export receipts in June 2012, outward shipments of Manufactured Goods was estimated at $3.552 billion, representing an increase of 5.6 percent from $3.363 billion recorded in June 2011. Contrary to year on year change, it went down by 16.0 percent compared to recorded value of $4.229 billion in May 2012.

Income from Total Agro-Based Products comprising 7.0 percent share of the total exports revenue in June 2012 went up by 11.9 percent to $299.67 million from $267.91 million. The increase was due to the volume of outward shipment for sugar which registers a growth of more than a thousand. However, compared to its previous month level, it declined by 9.3 percent from $330.31 million in May 2012.

Earnings from Mineral Products with a share of 4.4 percent in June 2012 reached $189.60 million. It went down by 29.7 percent from $269.86 million in June 2011. On the other hand, export receipts from Special Transactions which consist of commodities like gifts, donations, machinery and equipment returned to the country, replacement of returned goods and the likes reflecting a 5.6 percent share was higher by 95.6 percent to $240.42 million from $122.91 million in June 2011.

Petroleum Products accounting for 0.5 percent share of the total exports revenue decreased by 78.6 percent from $106.38 million to $22.75 million.  However, Forest Products with 0.1 percent share grew by 10.4 percent to $5.75 million in June 2012 from $5.21 million in June 2011.

EXPORTS TO JAPAN ACCOUNTS FOR 16.4 PERCENT

Japan including Okinawa getting 16.4 percent share of the total exports for June 2012 emerged as the country’s top destination of exports with revenue amounting to $704.96 million. It was lower by 24.7 percent from $935.85 million recorded a year ago. The export items to Japan consist mainly of commodities for component devices and wood manufacturers.

United States of America (USA) including Alaska and Hawaii with 15.6 percent share to total exports followed as the second top market of the country for June 2012 with export earnings worth $674.21 million. This represented an increase of 17.7 percent from $572.79 million reported a year earlier.

People’s Republic of China accounting for 12.4 percent share to total exports came in third with shipments amounting to $534.63 million. Compared to same month a year ago, this value grew by 3.2 percent from $518.15 million.

Singapore ranked fourth in June 2012 with $392.75 million or 9.1 percent share of the total exports. The amount slightly went up by 0.3 percent from last year’s amount of $391.73 million.

Fifth in rank and representing 7.9 percent share to total exports was Hong Kong with export earnings worth $341.94 million or an increase of 20.7 percent from $283.25 million posted in June 2011.

Other top ten markets for June 2012 were Germany, $270.40 million; Republic of Korea, $231.09 million; Taiwan, $173.07 million; Thailand, $160.34 million; and Netherlands, $146.36 million.

Total export receipts from the country’s top ten markets for the month of June 2012 amounted to $3.630 billion or 84.2 percent of the total.

EXPORTS TO EAST ASIA WORTH $1.987 BILLION

The merchandise exports of the Philippines to East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) in June 2012 accounted 46.1 percent share to total exports, amounting to $1.987 billion or a decrease of 5.4 percent from its June 2011 figure of $2.101 billion.

Exports to ASEAN member-countries accounting for 16.7 percent share to total merchandise exports in June 2012 reached $718.19 million, a 6.4 percent drop from $767.69 million recorded in June 2011.

Merchandise exports to European Union (EU), sharing 15.1 percent to total merchandise exports in June 2012 was valued at $648.97 million. It grew by 54.0 percent from $421.44 million posted in June 2011.

Technical Note:

Page last revised:  August 10, 2012