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By Darwin G. Amojelar, Reporter
SALES of
Philippine-made goods slowed in May, dragged down by a contraction
in electronics shipments abroad, the government reported Thursday.
The National Statistics Office (NSO) said export
earnings that month crept up by 2.3 percent to $4.22 billion, easing
from the 6.3-percent rise in the same period last year. In April,
exports had grown 4.9 percent to $4.32 billion.
The May shipments allowed exports in the first
five months this year to inch up 3.1 percent to $21.085 billion from
$20.452 billion last year. Year-to-date growth however was slower
than the government’s already revised target of 5 percent for the
full year.
Electronics, which accounted for 58.6 percent of
the total dollar receipts, fell 3.4 percent to $2.474 billion from
$2.561 billion last year.
“This may be due to the slowdown in the demand
for electronic products especially on the components/devices,” the
NSO said, referring to semiconductors.
Acting Socioeconomic Planning Secretary and
National Economic and Development Authority Director General Augusto
Santos said all major commodity groups registered higher exports
than last year except for mineral products, which declined minimally
as copper prices in the world market have started to taper.
Cathodes and sections of cathodes of refined
copper was the country’s second top earner in May with a
3.7-percent share and receipts of $155.14 million or 16.2 percent
higher than the $133.52 million earned last year.
Articles of apparel and clothing accessories
fell to the third spot with revenues of $150.18 million, followed by
woodcrafts and furniture with sales of $94.27 million.
Exports of petroleum product rose 3.4 percent to
$88.89 million from $85.97 million last year.
Rounding up the list of the top ten exports for
the month were ignition wiring sets and other wiring sets used in
vehicles, aircrafts and ships, valued at $69.65 million; coconut
oil, $63.55 million; other products manufactured from materials
imported on consignment basis, $49.90 million; metal components,
$49.60 million; and bananas, $41.44 million.
Receipts from the top ten exports reached $3.236
billion, or 76.6 percent of the total.
The US was the Philippines’ biggest market in
May with purchases of $675.59 million, or a modest increase of 2.7
percent from $657.60 million last year.
Japan had purchases worth $665.40 million,
followed by the People’s Republic of China with $502.05 million.
Other top ten markets for May were Hong Kong,
with $395.98 million; Republic of Korea, $313.31 million; the
Netherlands, $278.23 million; Singapore, $234.64 million; Germany,
$205.34 million; Taiwan, $168.39 million; and Malaysia, $163.62
million.
Receipts from the Philippines’ top ten markets
amounted to $3.60 billion or 85.3 percent of the total.
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