Philippine Export hit almost $5 Billion -17 month high in May 2012 (Q2)

Merchandise exports hit a 17-month high in May 2012, the National Statistics Office (NSO) reported Tuesday.

Total earnings from exports soared by 19.7 percent or $4.93 billion in May 2012, higher than the $4.12 billion recorded in the same period last year.

Month-on-month, it increased by 6.4 percent from the $4.64 billion reported in April 2012. 

Meanwhile, aggregate exports for the first five months of the year grew by 8.4 percent to $22.44 billion from the $20.71 billion registered in the same period last year, NSO said.

It added that the country's major export includes the following:

  • Electronics products which accounted for 38 %
  • Wood-crafts and furniture - 3.6 %
  • Clothing - 3.1 %
  • Metal components - 2.8  %
  • Wiring sets  - 2.6  %

Manufactured goods accounted for 85.8 percent of the total export receipts, total agro-based products for 6.7 percent, mineral products for 4.2 percent and petroleum products for 0.4 percent, according to the NSO.

The country's biggest export market in May 2012 accounted to the following:

  • Japan, buying 23 %  of the country's total exports.  
  • United States of America  -14.5 % 
  • Thailand - 11.5 %
  • China - 11.4 %
  • Hong Kong - 7 %

Read more in National Statistics Office website - www.census.gov.ph

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