Merchandise Export Performance : March 2017

Reference Number: 

2017-051

Release Date: 

Thursday, May 11, 2017

 

Starting with April 2017 report for exports and import statistics, the Press Releases (PR) will be integrated into one (PR). 

 

MERCHANDISE EXPORTS PERFORMANCE

MARCH 2017

(Preliminary)

 

 

March

 

2017 p

2016 r

 

TOTAL EXPORTS

     FOB Value in Million US Dollars

     Year-on-Year Growth (Percent)  

Electronic Products

     FOB Value in Million US Dollars

     Year-on-Year Growth (Percent)

 

 

5,579.35

21.0

 

2,802.07

19.0

 

 

4,611.34

- 15.1

 

2,355.55

1.0

 

Top 10  Philippine Exports to All Countries: March 2017 p
(Year-on-Year Growth in Percent)

Gainers

Cathodes and Sections of Cathodes, Of Refined Copper
506.3
Coconut Oil (includes crude and refined)
215.8
Gold
116.8
Other Mineral Products
80.0
Machinery and Transport Equipment
55.9
Other Manufactures
47.5
Metal Components
21.8
Chemicals
21.6
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
20.2
Electronic Products
19.0
                       p-preliminary, r-revised
 
 
 
 

EXPORTED GOODS IN MARCH 2017 GROW BY 21.0 PERCENT

The country’s total export sales amounted to $5.579 billion in March 2017, an increase of 21.0 percent from $4.611 billion recorded value in the same month a year ago. The performance was brought about by the positive growth of the top 10 major commodities for the month.  These are cathodes and sections of cathodes, of refined copper (506.3%); coconut oil (215.8%); gold (116.8%); other mineral products (80.0%); machinery and transport equipment (55.9%);  other manufactures (47.5%); metal components (21.8%); chemicals (21.6%); ignition wiring set and other wiring sets used in vehicle, aircrafts and ships (20.2%) and electronic products (19.0%) (Table 1).

         

EXPORTS OF ELECTRONIC PRODUCTS INCREASE BY 19.0 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.802 billion, accounting for 50.2 percent of the total exports revenue in March 2017. It increased by 19.0 percent from $2.356 billion registered in March 2016.  Components/Devices (Semiconductors), having the biggest share of 36.3 percent among electronic products, increased by 23.2 percent to $2.026 billion in March 2017 from $1.645 billion in March 2016.

Machinery and Transport Equipment was the second top export earner with export revenue of $482.02 million.  Export sales for this commodity group went up by 55.9 percent from $309.27 million in March 2016.

Other Manufactures ranked third, with 6.7 percent share to the total export receipts and posting at $375.33 million. It recorded an increase of 47.5 percent from March 2016 value of $254.38 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fourth, with a contribution of 3.3 percent share to the total export receipts, recorded sales of $182.05 million in March 2017.  It   registered a 20.2 percent increase from the previous year is $151.48 million.

Gold was recorded as the country’s   fifth top export earner with value at $160.51 million or 2.9 percent share to total exports. It went up by 116.8 percent from $74.04 million in same month of 2016.

Rounding up the list of the top ten exports with corresponding export sales for the month of March 2017 were:

  • Chemicals   with   $158.99 million, incremented by 21.6 percent; 
  • Coconut Oil   with  $153.90 million, grew by 215.8 percent;
  • Cathodes & Sections of Cathodes, Of Refined Copper with   $129.50 million, increased by   506.3 percent;
  • Metals Components  with $122.10 million, rose by 21.8 percent; and
  • Other Mineral Products with $99.98 million, expanded by 80.0 percent.

Total receipts from the top ten exports reached $4.666 billion or 83.6 percent of the total exports and grew by 33.3 percent in March 2017.

 
 

EXPORTS OF MANUFACTURED GOODS WENT UP BY 16.5 PERCENT

Outward shipments of Manufactured Goods were valued at $4.693 billion, accounting for 84.1 percent share of the total export receipts in March 2017.  It went up by 16.5 percent from $4.027 billion recorded in March 2016 (Table 3). 

Mineral Products with a 7.5 percent share, increased by 94.2 percent to $418.94 million in March 2017 from $215.70 million in March 2016.

Exports from Total Agro-Based Products, with a 6.1 percent share to total exports, amounted to $340.31 million.   It rose by 33.6 percent from $254.69 million in March 2016.

Merchandise exports from Special Transactions, sharing 2.0 percent of the   total exports revenue, grew by 10.3 percent to $112.08 million in March 2017 from $101.62 million in same month of previous year. 

Petroleum Products, with 0.1 percent share, decreased by 11.1 percent from $8.81 million in March 2016 to $7.83 million.

Moreover, sales from Forest Products, accounting for a mere 0.1 percent share of the total   exports,   went up   by   116.3 percent to $7.51 million in March 2017 from $3.47 million reported value in same month of 2016.

 
 

UNITED STATES OF AMERICA ACCOUNTS FOR 14.5 PERCENT TO TOTAL EXPORTS IN MARCH 2017

Total export receipts from the country’s top ten market destinations for the month of March 2017 was valued at $4.379 billion or 78.5 percent share of the total (Table 5). 

United States of America (USA) including Alaska and Hawaii ranked first, accounting 14.5 percent to total exports, with export receipts valued at $809.93 million in March 2017. It recorded an increase of 20.4 percent from $672.85 million in same month last year.

Hong Kong ranked second with revenue amounting to $798.25 million, comprising 14.3 percent share to total exports for March 2017.  It increased by 38.9 percent from $574.73 million recorded in the same month a year ago.

Japan including Okinawa ranked third with $762.43 million or 13.7 percent share of the total exports.  It fell by 23.1 percent from $991.43 million in the same month year ago.

People’s Republic of China with 11.4 percent share to total exports, ranked fourth with shipments  valued at $635.27 million.  It went up by 38.9 percent from $457.37 million in same month a year ago.

Singapore placed fifth, representing a 6.0 percent share to total exports, with export earnings worth $335.03 million.  It increased by 11.8 percent from $299.61 million posted in March 2016.

Other top ten market destinations for March 2017 were: Germany, $232.18 million; Thailand, $217.40 million; Republic of Korea, $202.45 million; Netherlands, $199.28 million; and Taiwan, $187.12 million.

 

EXPORTS FOR COUNTRIES IN EAST ASIA ACCOUNTED FOR 46.4 PERCENT

By economic bloc, the country’s merchandise exports in March 2017 went to countries in East Asia,   accounting for 46.4 percent share to total exports valued at $2.587 billion.  It increased by 8.9 percent from $2.376 billion of March 2016.        

Exports to European Union member countries, with 16.2 percent share to total merchandise exports amounted to $901.24 million.  It went up by 56.2 percent from $577.04 million recorded in March 2016.

Commodities exported to ASEAN member countries comprised 14.9 percent of the total exports in March 2017 and was valued at $833.16 million. This registered a positive growth of 20.9 percent from $689.11 million posted in same month a year ago (Table 6).                           

 
 
 
 
 

Technical Notes

 

Export trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export declarations filed with the Bureau of Customs (BOC) by exporters or their authorized representatives as required by law. PSA collects a copy of the accomplished form Export Declaration (ED – DTI form). Aside from the hard copy of the ED, the output of the Automated Export Documentation System (AEDS) is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents. The digitized copy of the AEDS is provided by BOC and PEZA to PSA on a monthly basis through email.

All documents (hard copies and e-files) received before the cut-off date which is every 25th day of the month are compiled, processed and generated in a monthly statistical tables for the preparation of Press Release.  All documents received after the cut-off date, however, are processed and included in the generation of the revised statistical tables. Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release is due every 10th day of each month.  However, if the 10th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday. If the release date falls on holiday, the date of release is moved accordingly.

The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed level for statistical purposes.

Data request of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

 

 

(Sgd.)  LISA GRACE S. BERSALES, Ph. D.
National Statistician and Civil Registrar General

 

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