Export earnings for March 2005 went down by 2.8 percent to $3.256 billion from $3.350 billion during the same period of the previous year.

Receipts from merchandise exports during the period January to March 2005 grew by 3.6 percent to $9.520 billion from $9.193 billion during the same period a year earlier.

Electronic products, accounting for 66.4 percent of the aggregate export revenue in March, recorded a drop of 3.7 percent to $2.162 billion from $2.244 billion a year ago. The decreases were observed in five electronic groups with electronic data processing contributing the biggest share of negative growth.

Among the major groups of electronic products, components/devices (Semiconductors) got the major share with 49.5 percent to total exports. Semiconductors posted a positive growth at 2.2 percent to $1.610 billion from $1.575 billion during the same month in 2004. The other electronic products group that showed increases were consumer electronics, control and  instrumentation, and  medical/industrial instrumentation.

Articles of apparel and clothing accessories remained as the country's second top earner with a combined share of 4.6 percent and an aggregate receipt of $149.23 million or 16.6 percent lower  than $179.01 million a year earlier.

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles) ranked third with total revenue of $54.09 million reflecting a 1.6 percent decrease from $54.96 million during the same period of 2004.

Othet products manufactured from materials imported on consignment basis ranked fourth with sales amounting to $42.21 million or a year-on-year decline of 31.3  percent from $61.43 million.

Revenue from woodcrafts and furniture, increased  by 23.7 percent to $42.19 million from $34.10 million.

Rounding up the list of the top exports for the month of March 2005 were: cathodes and sections of cathodes, of refined copper, $35.92 million; petroleum products, $34.32 million; coconut oil, $33.76 million; metal components , $32.65 million; and bananas (fresh), 28.16 million.

Total receipts for the top ten exports reached $2.614 billion, or 80.3 percent of the total exports.

Fig. 1. Philippine Top Exports: March 2004 and 2005
(F.O.B. Value in Million US Dollars)

Accounting for 89.6 percent of the total receipts, exports of manufactured goods was $2.916 billion with a 3.0 percent negative growth from $3.006 billion during the same period of 2004.

Earnings from all agro-based products combined for $150.61 million or 4.6 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group improved by 11.4 percent from $135.25 million.

Income from   special transactions fell by 39.7 percent to $83.11 million from $137.81 million while receipts from exports of mineral products rose by 57.6 percent to $70.21 million from $44.53 million.

Petroleum products registered earnings at $34.32 million, while forest products contributed $1.89 million.

Fig. 2. Philippine Exports by Commodity Group: March 2004 and 2005
(F.O.B. Value in Million US Dollars)

Accounting for 20.4 percent of the country's aggregate income for the month, exports to Japan was valued at $663.45 million. Receipts declined by 2.2 percent from last year's reported figure of $678.32 million. 

United States followed with a 16.2 percent share. Earnings at $526.98 million,  dropped by 6.3 percent from $562.15 million.

People's Republic of China emerged as the third biggest market for the month as shipments of local goods amounted to $301.95 million or 9.3 percent of the total. Receipts moved up by 70.6 percent from $176.95 million compared to the same period of 2004.

Exports to Hong Kong accounting for 8.3 percent of the total receipts was worth $269.05 million reflecting a 7.4 percent decrease from $290.42 million during the same month a year ago.

Other top markets for March 2005 were: Netherlands, with exports worth $268.42 million; Singapore, $202.73 million;  Malaysia, $188.04 million; Taiwan, $162.48 million; Republic of Korea, $116.10 million; and Indonesia, $98.40 million.

Total export receipts from RP's top ten markets for the month of March amounted to $2.798 billion or 85.9 percent of the total.

Fig. 3. Philippine Top Exports by Country: March 2005
(F.O.B. Value in Million US Dollars)

Source:  Economic Indices and Indicators Division
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines