NSCB - 2nd Quarter 2008 National Accounts - Exports of Goods and Services

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

Total Exports accelerates

Total Exports accelerated to 7.7 percent from 4.9 percent last year resulting from the hefty increase in non-merchandize exports at 18.3 percent from negative 1.4 percent.

Total Merchandise Exports decelerate

The country’s Total Merchandise Exports posted a slower growth of 5.5 percent from 6.3 percent last year, driven by the increases in Garments and Cathodes & Section of Cathodes of Refined Copper.

The top five contributors to the growth of Merchandise Exports were: Garments, rebounded to 6.1 percent from negative 15.1 percent; Cathodes and Section of Cathodes of Refined Copper, shoot up by 9.0 percent from negative 31.0 percent; Prepared Tuna, slowed down to 46.3 percent from 171.7 percent; Gold from Copper Ores, rebounded to 8.0 percent from negative 26.5 percent; and, Ignition Wiring Sets, expanded to 9.3 percent from 5.2 percent.

Growth of Merchandise Exports was pulled down by the following commodities: Finished Electrical Machinery, slipped to negative 13.7 percent from a growth of 14.4 percent; Semi-conductors and Electric Microcircuits, skidded down to negative 11.0 percent from a growth of 7.5 percent; Other Products Manufactured, plummeted to negative 23.5 percent from a growth of 16.0 percent. Petroleum Naphtha, slumped to negative 33.8 percent from a growth of 30.4 percent; and, Liquefied Petroleum Gas, dived to 40.7 from a growth of 109.8 percent.

Exports of Non-Factor Services rebounds

Exports of Non-Factor Services posted a double-digit growth of 18.3 percent in the second quarter of 2008 from negative 1.4 percent a year ago. The expansion of the sector was due to the upsurge of Miscellaneous Services, which grew by 34.1 percent from 15.6 percent last year; Transportation, which grew by 4.4 percent from negative 39.8 percent; Government, which rose to 39.1 percent from 13.8 percent; Insurance, which boomed to 101.4 percent from negative 37.7 percent; and, Travel, which grew by 5.2 percent from a growth of 8.9 percent.

TOP TEN MERCHANDISE EXPORTS
2nd Quarter 2007 and 2nd Quarter 2008

At Constant 1985 Prices

ITEMS	2nd Qtr 2007	2nd Qtr 2008	Growth Rate (%)
1. Garments	9,776	10,374	6.1
2. Semiconductors and electronic microcircuits	21,905	19,500	-11.0
3. Finished elect'l machy	17,615	15,201	-13.7
4. Other prods. manufactured	996	762	-23.5
5. Ignition wiring sets	419	458	9.3
6. Crude coconut oil	2,263	2,288	1.1
7. Cathodes & Section of Cathodes, of Refined Copper***	1,851	2,018	9.0
8. Shrimps and prawns	307	308	0.2
9. Gold from copper ores	1,463	1,580	8.0
10. Banana and plantains	1,647	1,685	2.3

At Current Prices

ITEMS	2nd Qtr 2007	2nd Qtr 2008	Growth Rate (%)
1. Garments	24,972	20,473	-18.0
2. Semiconductors and electronic microcircuits	205,879	165,213	-19.8
3. Finished elect'l machy	43,694	34,285	-21.5
4. Other prods. manufactured	7,548	6,695	-11.3
5. Ignition wiring sets	9,312	9,503	2.1
6. Crude coconut oil	5,624	8,845	57.3
7. Cathodes & Section of Cathodes, of Refined Copper***	13,961	16,204	16.1
8. Shrimps and prawns	829	814	-1.9
9. Gold from copper ores	3,771	5,155	36.7
10. Banana and plantains	5,140	5,059	-1.6

*Formerly Bars, Rods of Copper

EXPORTS OF GOODS AND SERVICES
2nd Quarter 2007 and 2nd Quarter 2008

At Constant 1985 Prices

I T E M S	2nd Qtr 2007	2nd Qtr 2008	Growth Rate (%)
Total Exports	175,836	189,444	7.7
A. Merchandise Exports	145,358	153,382	5.5
B. Non-Factor Services	30,478	36,062	18.3

At Current Prices

I T E M S	2nd Qtr 2007	2nd Qtr 2008	Growth Rate (%)
Total Exports	714,074	729,214	2.1
A. Merchandise Exports	582,130	560,326	-3.7
B. Non-Factor Services	131,944	168,889	28.0

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 28 August 2008