NSCB - 4th Quarter 2007 National Accounts - Exports of Goods and Services

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

Total Exports down

The growth of Total Exports went down to negative 2.0 percent from positive 2.3 percent registered in the fourth quarter of the previous year as Merchandise Exports suffered a reversal in growth.

Merchandise Exports dwindles

Total Principal Merchandise Exports and Monetization of Gold plummeted to negative 2.2 percent and negative 43.6 percent from 2.0 percent and 7.5 percent growth, respectively, in 2006.

The top five Merchandise Exports were: Finished Electrical Machinery, which bounced back to a 19.5 percent gain from a 14.0 percent decline; Crude Coconut Oil, managed to recover to 9.6 percent from negative 39.7 percent; Semiconductors and Electric Microcircuits, which expanded to 1.7 percent from negative 4.3 percent; Canned Pineapple, which rebounded to 29.3 percent from negative 7.3 percent; and, Prepared Tuna, which grew by 69.1 percent from 48.9 percent.

Growth of Merchandise Exports was pulled down by the following commodities: Garments, which slumped to negative 13.4 percent from 6.4 percent; Cathodes and Section of Cathodes of Refined Copper; which skidded further to negative 29.5 percent from negative 4.2 percent; Banana and Plantains, which slipped further to negative 7.0 percent from negative 14.0 percent; Gold from Copper, which dived to negative 11.1 percent from a high growth of 264.9 percent; and, Shrimps and Prawns, which turned in a dismal negative growth of 23.9 percent from a smaller decline of 15.4 percent in the previous year.

Export of Non-Factor Services expands

Exports of Non-Factor Services continued to grow by 6.4 percent in the fourth quarter of 2007 from 2.9 percent in the previous year. Contributing to the growth of the Non-Factor Services were: Miscellaneous Services which grew by 16.5 percent from 17.2 percent, and Travel, with a turnaround growth of 1.6 percent from negative 7.7 percent.

On the other hand, Transportation slid further to negative 8.4 from negative 6.1 percent in the previous year. Insurance plunged to negative 29.8 from a postive growth of 7.1 percent while Government services slowed down from 9.3 percent to 8.7 percent growth.

TOP TEN MERCHANDISE EXPORTS
4th Quarter 2007 and 4th Quarter 2006
AT CONSTANT 1985 PRICES, IN MILLION PESOS

ITEM	Q4 2006	Q4 2007	Growth Rate (%)
1. Garments	11,179	9,678	-13.4
2. Semiconductors and electronic microcircuits	15,787	16,049	1.7
3. Finished elect'l machy	13,817	16,506	19.5
4. Other prods. manufactured	443	425	-4.1
5. Ignition wiring sets	560	570	1.9
6. Crude coconut oil	3,271	3,585	9.6
7. Cathodes & Section of Cathodes, of Refined Copper*	1,267	894	-29.5
8. Shrimps and prawns	421	320	-23.9
9. Gold from copper ores	1,577	1,403	-11.1
10. Banana and plantains	3,502	3,258	-7.0

*Formerly Bars, Rods of Copper

EXPORTS OF GOODS AND SERVICES
4th Quarter 2007 and 4th Quarter 2006
AT CONSTANT 1985 PRICES, IN MILLION PESOS

ITEM	Q4 2006	Q4 2007	Growth Rate (%)
Total Exports	141,628	138,745	-7.0
A. Merchandise Exports	117,928	113,538	-9.9
B. Non-Factor Services	23,701	25,207	9.8

EXPORTS OF GOODS AND SERVICES
Annual 2007 and 2006
AT CONSTANT 1985 PRICES, IN MILLION PESOS

ITEM	2006	2007	Growth Rate (%)
Total Exports	629,093	648,297	3.1
A. Merchandise Exports	532,541	543,412	2.0
B. Non-Factor Services	96,552	104,885	8.6

Source: National Statistical Coordination Board (NSCB)

Posted 31 January 2008.