ELECTRONIC PRODUCTS DECREASE BY 14.9 PERCENT

Electronic Products emerged as the country’s top export with total receipts of $1.765 billion. It accounted for 46.5 percent of the total exports revenue in August 2012.  However, it went down by 14.9 percent from $2.074 billion registered in August 2011. Similarly, outward shipments were also down by 0.3 percent compared to same month last year’s recorded shipments. Components/Devices (Semiconductors), which comprised 37.1 percent of the total exports had the biggest share among the major groups of electronic products with export earnings worth $1.410 billion, registered a decrease of 10.5 percent from $1.576 billion in August 2011. On a monthly basis, growth of electronic products as well as semiconductors showed a positive growth of 5.4 percent and 4.9 percent respectively.  Meanwhile, volume of outward shipments of semiconductors grew by 2.5 percent compared to same period a year ago.

Woodcrafts and Furniture with 5.4 percent share in the total value of exports for August 2012 was recorded as the country’s second top export with revenue valued at $205.65 million. This figure exhibited a growth of 23.9 percent compared from its year ago level of $165.95 million. On the other hand, volume of this product also grew by 50.2 percent compared to the same period last year.

Metal Components followed as the third top export earner in August 2012 with total receipts of $138.55 million or a share of 3.7 percent to total exports revenue. It expanded by 100.2 percent, the highest annual increase among the top ten exports, compared to same month a year ago level of $69.22 million. Outward shipment of this product showed also an expansion of 15.3 percent compared to its year ago recorded shipment.

Ranked fourth in August 2012 and contributing 2.7 percent share to the total export receipts were 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 $103.84 million. It slightly went down by 0.9 percent from $104.79 million registered in August 2011. Furthermore, volume of shipments of this commodity showed a 1.9 percent increase compared to last year same month period.

Articles of Apparel and Clothing Accessories with 2.0 percent share to the total export receipts ranked fifth with value posted at $77.31 million. It decreased by 55.4 percent from $173.44 million recorded in August 2011. Similarly, volume of outward shipments decreased by 47.7 percent compared to it’s a year ago volume of shipment.

Rounding up the list of the top ten exports for the month of August 2012 were Coconut Oil including crude and refined with export revenue of $47.18 million decreasing by 50.5 percent; Pineapple and Pineapple Products with export receipts of $35.54 million, losing by 4.2 percent; Copper Concentrates with export earnings of $35.02 million increasing by 38.5 percent; Bananas (Fresh) with recorded sales of $29.83 million declining by 15.4 percent; and Gold, extracted from copper ores and concentrates with proceeds billed at $28.67 million rising by 40.6 percent.

Total receipts from the top ten exports reached $2.467 billion, or 65.0 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS STAND AT $3.392 BILLION

Accounting for 89.3 percent of the total export receipts in August 2012, value of outward shipments of Manufactured Goods was estimated at $3.392 billion, representing a decrease of 1.3 percent from $3.436 billion recorded in August 2011. Outward shipments in terms of gross kilos did show decline of 30.0 percent compared to shipment in August 2011. Similarly, it went down by 15.7 percent compared to recorded value of $4.025 billion in July 2012. However, volume of shipment grew by 13.8 percent month-on-month.

Income from Total Agro-Based Products, comprising 5.0 percent share of the total exports revenue in August 2012, went down by 43.7 percent from $339.39 million to $191.22 million. Moreover, it contracted by 45.7 percent from $351.96 million in July 2012. This product also showed a contraction in terms of volume with a negative 19.4 percent year-on-year change and negative 25.4 percent month-on-month change. The drop was mainly due to the decline in both the value and volume of export items like sugar and sugar products, fruits and vegetables and other agro-based products.

Earnings from Mineral Products with a share of 2.6 percent reached $99.83 million. It went down by 62.4 percent from $265.52 million in August 2011.  However, 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 2.9 percent share was higher by 10.6 percent to $111.77 million from $101.03 million in August 2011. However, shipment of products categorized under special transactions did show a decrease of 40.8 percent compared to August 2011 recorded volume of outward shipments.

Forest Products accounting for 0.1 percent share of the total exports revenue decreased by 49.8 percent from $6.76 million in August 2011 to $3.39 million.  Moreover, Petroleum Products with almost 0.0 percent share was down by 99.7 percent from $24.48 million in August 2011 to $0.08 million in August 2012. Similarly, forest and petroleum products outward shipments had a negative growth of 41.4 percent and 96.6 percent, respectively compared to same period last year.

EXPORTS TO JAPAN ACCOUNT FOR 18.1 PERCENT

Japan including Okinawa getting 18.1 percent share of the total exports for August 2012 emerged as the country’s top destination of exports with revenue amounting to $686.71 million. It was higher by 4.6 percent from $656.28 million recorded a year ago. The export items to Japan consist mainly of woodcrafts and components/devices (semiconductors).

Singapore with 14.8 percent share to total exports followed as the second top market of the country for August 2012 with export earnings worth $561.99 million. This represented an increase of 63.6 percent from $343.57 million reported a year earlier. Most of the exported products to Singapore were components/devices (semiconductors), machinery and transport equipment, other manufactures and products exported under special transactions.

United States of America (USA) including Alaska and Hawaii accounting for 13.1 percent share to total exports came in third with shipments amounting to $499.27 million. Compared to the same month a year ago, however, its value contracted by 18.7 percent from $614.25 million. Products exported to USA comprised mostly of electronics.

People’s Republic of China ranked fourth in August 2012 with $376.55 million or 9.9 percent share of the total exports. The amount dropped by 42.0 percent from last year’s amount of $649.46 million.

Fifth in rank and representing 8.1 percent share to total exports was Hong Kong with export earnings worth $306.97 million which recorded a drop of 10.2 percent from $341.95 million posted in August 2011.

Other top ten markets for August 2012 were Republic of Korea, $246.13 million; Thailand, $218.54 million; Taiwan, $120.36 million; Netherlands, $119.03 million; and Germany, $113.67 million.

Total export receipts from the country’s top ten markets for the month of August 2012 amounted to $3.249 billion or 85.6 percent of the total.

EXPORTS TO EAST ASIA WORTH $1.739 BILLION