NSCB - 1st Quarter 2008 National Accounts - Exports of Goods and Services

First Quarter 2008
Gross National Product & Gross Domestic Product
by Expenditure Shares

Total Exports dive

Total Exports plunged to negative 11.1 percent from positive 10.8 percent last year as both Merchandise Exports and Non-Factor services registered negative growths in the first quarter of 2008.

Total Merchandise Exports Plummet

The country’s total merchandise exports plummeted to negative 11.1 percent in the current quarter of 2008 from a growth of 8.2 percent in 2007. The double-digit negative growth of Merchandise Export was attributed to the slumped in both Principal Merchandise Exports and Other Exports to negative 13.9 percent from 9.2 percent and negative 7.5 percent from 8.0 percent, respectively.

The top five contributors to the growth of merchandise exports were: Crude Coconut Oil, which soared to 155.5 percent from negative 58.9 percent; Gold from Copper Ores with a growth of 55.3 percent from 62.4 percent; Copra Oil, Cake and Meal, which posted a remarkable growth of 129.2 percent from 12.8 percent; Prepared Tuna, grew by 52.4 percent from 54.0 percent; and, Liquefied Petroleum Gas, up by 65.9 percent from 33.3 percent.

Growth of Merchandise Exports was pulled down by the following commodities: Finished Electrical Machinery, which plunged to negative 45.4 from 52.9 percent; Cathodes and Section of Cathodes of Refined Copper, slid to negative 31.5 percent from 58.3 percent; Garments, down by negative 8.4 percent from negative 9.5 percent; Iron Ore Agglomerates, skidded to negative 39.7 percent from 9.2 percent; and, Semiconductors and Electric Microcircuits, down by negative 0.8 percent from 0.5 percent.

Export of Non-Factor Services slackens

Exports of Non-Factor Services slackened to negative 11.1 percent in the first quarter of 2008 from 23.1 percent in 2007. Contributing to the growth of Non-Factor Services were: Insurance which expanded to 99.3 percent growth from 42.0 percent; Government Services up by 29.5 percent from 25.3 percent and Miscellaneous Services, which includes payments for royalties and business process outsourcing services, grew by 10.6 percent from 10.3 percent.

On the other hand, Transportation declined by 19.7 percent from a growth of 1.5 percent while Travel was down by 29.0 percent from a growth of 52.6 percent.

TOP TEN MERCHANDISE EXPORTS
1st Quarter 2007 and 1st Quarter 2008

At Constant 1985 Prices

ITEMS	1st Qtr 2007	1st Qtr 2008	Growth Rate (%)
1. Garments	10,728	9,829	-8.4
2. Semiconductors and electronic microcircuits	22,007	21,837	-0.8
3. Finished elect'l machy	19,883	10,849	-45.4
4. Other prods. manufactured	826	768	-7.0
5. Ignition wiring sets	489	509	4.0
6. Crude coconut oil	1,371	3,502	155.5
7. Cathodes & Section of Cathodes, of Refined Copper***	4,126	2,828	-31.5
8. Shrimps and prawns	274	185	-32.4
9. Gold from copper ores	952	1,479	55.3
10. Banana and plantains	1,378	1,268	-8.0

At Current Prices

ITEMS	1st Qtr 2007	1st Qtr 2008	Growth Rate (%)
1. Garments	28,626	21,115	-26.2
2. Semiconductors and electronic microcircuits	210,093	168,009	-20.0
3. Finished elect'l machy	57,365	31,051	-45.9
4. Other prods. manufactured	9,866	7,584	-23.1
5. Ignition wiring sets	10,068	10,087	0.2
6. Crude coconut oil	2,091	8,192	291.8
7. Cathodes & Section of Cathodes, of Refined Copper***	14,590	11,045	-24.3
8. Shrimps and prawns	726	447	-38.4
9. Gold from copper ores	1,747	4,773	173.2
10. Banana and plantains	4,465	3,566	-20.1

*Formerly Bars, Rods of Copper

EXPORTS OF GOODS AND SERVICES
1st Quarter 2007 and 1st Quarter 2008

At Constant 1985 Prices

I T E M S	1st Qtr 2007	1st Qtr 2008	Growth Rate (%)
Total Exports	157,709	140,152	-11.1
A. Merchandise Exports	127,648	113,431	-11.1
B. Non-Factor Services	30,061	26,721	-11.1

At Current Prices

I T E M S	1st Qtr 2007	1st Qtr 2008	Growth Rate (%)
Total Exports	706,969	625,656	-11.5
A. Merchandise Exports	578,701	505,149	-12.7
B. Non-Factor Services	128,269	120,507	-6.1

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

ITEM	2006	2007	Growth Rate (%)
Total Exports	641,570	677,697	5.6
A. Merchandise Exports	532,541	553,772	4.0
B. Non-Factor Services	109,029	123,925	13.7

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

ITEM	2006	2007	Growth Rate (%)
Total Exports	2,851,390	2,833,634	-0.6
A. Merchandise Exports	2,402,448	2,295,667	-4.4
B. Non-Factor Services	448,942	537,966	19.8

Source: National Statistical Coordination Board (NSCB)

Posted 29 May 2008