NSCB - Third Quarter 2007 GNP - Exports of Goods and Services

Third Quarter 2007
Gross National Product & Gross Domestic Product
by Expenditure Shares

Total Exports plummets

Total Exports in dollar terms increased to 6.5 percent. In peso terms, the total exports plummeted to negative 4.9 percent from 9.2 percent last year, the effect of the appreciation of the peso against the dollar.

Merchandise Exports slows down

The country’s Total Merchandise Exports turned around to negative 7.5 percent in the third quarter of 2007 from 10.5 percent in the same period last year.

The top five contributors to the growth of Merchandise Exports were: Finished Electrical Machinery which maintained its growth of 8.3 percent; Semi conductors and Electric Microcircuits, decelerated to 4.7 percent from 5.1 percent; Crude Coconut Oil, which recovered from negative 42.5 percent growth to 14.6 percent; Liquefied Petroleum Gas, which jumped to 473.2 percent from negative 49.4 percent; and, Other Products Manufactured, which slowed down to 8.5 percent from 56.5 percent.

Growth of Merchandise Exports, however, was pulled down by the following commodities: Garments which dropped to negative 13.0 percent from 17.1 percent; Gold from Copper ores, which plummeted to negative 76.8 percent from 546.7 percent; Cathodes and Section of Cathodes of Refined Copper, down by 35.3 percent from hefty growth of 97.3 percent; Iron agglomerates dropped by negative 42.7 from 92.0 percent and, Petroleum naphtha, slipped to negative 48.5 from 1.4 percent in 2006

Exports of Non-Factor Services post gains

Exports of Non-Factor Services accelerated to 13.7 percent in the third quarter of 2007 from 1.0 percent a year ago. This was attributed to the robust growth of Miscellaneous Services, which include payments for IT-enabled services such as Contact Centers, Medical Transcription, Software Development, etc., which posted 36.7 percent growth from 12.2 percent in the previous year. On the other hand, Government Services posted a slower growth of 12.4 percent from 14.5 percent in 2006. Travel Services improved to a lower negative growth of 3.6 percent from negative 7.2 percent in the third quarter of 2006.

Meanwhile, Insurance Services experienced a turn around with a negative 31.3 percent from 117.9 percent growth in 2006. Other Transportation and Communication Services further slipped to negative 7.2 percent in third quarter of 2007 from negative 8.7 percent during the same period of 2006.

TOP TEN MERCHANDISE EXPORTS
3rd Quarter 2006 and 3rd Quarter 2007
IN MILLION PESOS

At Constant 1985 Prices

ITEMS	Q3 2006	Q3 2007	Growth Rate (%)
Principal Merchandise Exports	71,702	69,836	-2.6
1. Garments	13,950	12,141	-13.0
2. Semiconductors and electronic microcircuits	18,553	19,424	4.7
3. Finished elect'l machy	22,400	24,255	8.3
4. Other prods. manufactured	1,288	1,397	8.5
5. Ignition wiring sets	470	495	5.3
6. Crude coconut oil	3,676	4,212	14.6
7. Cathodes & Section of Cathodes, of Refined Copper*	3,610	2,335	-35.3
8. Shrimps and prawns	350	293	-16.1
9. Gold from copper ores	1,796	417	-76.8
10. Banana and plantains	1,468	1,415	-3.6
11. Transmission Apparatus	599	660	10.0
12. Copper concentrates	70	82	16.8
13. Canned pineapple	542	434	-20.0
14. Dessicated coconut	860	775	-9.9
15. Centrifugal sugar	0	0	-
16. Liquefied petrol.gas	48	275	473.2
17. Petroleum Naphtha	534	275	-48.5
18. Baskets, basketwares	56	29	-49.0
19. Prepared tuna	342	212	-38.1
20. Iron agglomerates	927	531	-42.7
21. Copra oil, cake & meal	129	111	-14.1
22. Tennis, gym & sports shoes	34	69	103.3

* Formerly Bars, Rods of Copper

At Current Prices

ITEMS	Q3 2006	Q3 2007	Growth Rate (%)
Principal Merchandise Exports	369,350	323,919	-12.3
1. Garments	38,671	29,950	-22.6
2. Semiconductors and electronic microcircuits	219,099	195,592	-10.7
3. Finished elect'l machy	42,693	41,549	-2.7
4. Other prods. manufactured	11,784	7,743	-34.3
5. Ignition wiring sets	10,886	11,279	3.6
6. Crude coconut oil	3,749	6,376	70.0
7. Cathodes & Section of Cathodes, of Refined Copper*	15,908	10,035	-36.9
8. Shrimps and prawns	1,017	802	-21.1
9. Gold from copper ores	5,895	1,499	-74.6
10. Banana and plantains	4,833	4,495	-7.0
11. Transmission Apparatus	969	960	-0.9
12. Copper concentrates	1,298	1,683	29.7
13. Canned pineapple	1,794	1,589	-11.4
14. Dessicated coconut	2,036	2,020	-0.8
15. Centrifugal sugar	0	0	-
16. Liquefied petrol.gas	277	1,753	533.6
17. Petroleum Naphtha	4,396	2,565	-41.7
18. Baskets, basketwares	151	94	-37.9
19. Prepared tuna	1,223	873	-28.6
20. Iron agglomerates	2,179	2,386	9.5
21. Copra oil, cake & meal	372	432	16.0
22. Tennis, gym & sports shoes	118	244	106.0

* Formerly Bars, Rods of Copper

EXPORTS OF GOODS AND SERVICES
3rd Quarter 2006 and 3rd Quarter 2007
IN MILLION PESOS

At Current Prices

I T E M S	3rd Qtr 2006	3rd Qtr 2007	Growth Rate (%)
Total Exports	729,360	693,673	-4.9
A. Merchandise Exports	633,368	581,298	-8.2
B. Non-Factor Services	95,992	112,375	17.1

At Constant 1985 Prices

I T E M S	3rd Qtr 2006	3rd Qtr 2007	Growth Rate (%)
Total Exports	182,567	173,661	-4.9
A. Merchandise Exports	159,936	147,936	-7.5
B. Non-Factor Services	22,631	25,725	13.7

Source: National Statistical Coordination Board (NSCB)

Posted November 29, 2007.