NSCB - 3rd Quarter 2008 National Accounts - Exports of Goods and Services

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

Total Exports accelerates

Total Exports grew by 4.7 percent from 3.7 percent last year boosted by the rebound in Total Merchandise Exports.

Total Merchandise Exports expands

The country’s Total Merchandise Exports expanded by 4.8 percent from negative 0.2 percent registered last year, driven by the increases in the following commodities: Cathodes and Section of Cathodes of Refined Copper, which rebounded to 58.6 percent from negative 35.3 percent; Gold from Copper Ores, which shot by 166.8 percent from negative 76.8 percent; Prepared Tuna, which soared by 238.3 percent from negative 38.1 percent; Petroleum Naphtha, which grew by 119.2 percent from negative 48.5 percent; and, Desiccated Coconut, which rebounded to 28.6 percent from negative 9.9 percent.

Growth of Merchandise Exports, however, was pulled down by the following commodities: Finished Electrical Machinery, which went negative 11.9 percent from a growth of 8.3 percent; Garment, down by 10.7 percent from negative 13.0 percent; Crude Coconut Oil, down by 54.3 percent from a growth of 14.6 percent; Other Products Manufactured, down by 56.2 percent from a growth of 8.5 percent; and, Liquefied Petroleum Gas down by 42.1 percent from the huge growth of 473.2 percent growth registered last year.

Exports of Non-Factor Services sustains growth

Exports of Non-Factor Services grew, albeit at a much slower pace, of 4.6 percent in the third quarter of 2008 from 29.0 percent a year ago. The growth of the sector was largely attributed to the following sub sectors: Miscellaneous Services, which include payments for IT-enabled services such as contact centers, medical transcription, software development, etc., grew by 25.1 percent from 37.4 percent growth; Transportation, turned around to 9.6 percent from negative 15.4 percent; and, Government Service, soared to 50.0 percent from 12.4 percent.

On the other hand, Travel slipped to negative 20.1 percent from 48.3 percent growth while Insurance improved to a negative growth of 24.9 percent from negative 56.0 percent in 2007.

TOP TEN MERCHANDISE EXPORTS
3rd Quarter 2007 and 3rd Quarter 2008

At Constant 1985 Prices

ITEMS	3rd Qtr 2007	3rd Qtr 2008	Growth Rate (%)
1. Garments	12,141	10,838	-10.7
2. Semiconductors and electronic microcircuits	19,424	19,585	0.8
3. Finished elect'l machy	24,255	21,359	-11.9
4. Other prods. manufactured	1,397	612	-56.2
5. Ignition wiring sets	495	459	-7.3
6. Crude coconut oil	4,212	1,925	-54.3
7. Cathodes & Section of Cathodes, of Refined Copper***	2,335	3,703	58.6
8. Shrimps and prawns	293	302	3.1
9. Gold from copper ores	417	1,111	166.8
10. Banana and plantains	1,415	1,474	4.2

At Current Prices

ITEMS	3rd Qtr 2007	3rd Qtr 2008	Growth Rate (%)
1. Garments	29,950	23,842	-20.4
2. Semiconductors and electronic microcircuits	195,592	186,247	-4.8
3. Finished elect'l machy	41,549	38,873	-6.4
4. Other prods. manufactured	7,743	6,734	-13.0
5. Ignition wiring sets	11,279	9,732	-13.7
6. Crude coconut oil	6,376	4,585	-28.1
7. Cathodes & Section of Cathodes, of Refined Copper***	10,035	19,104	90.4
8. Shrimps and prawns	802	852	6.2
9. Gold from copper ores	1,499	5,359	257.6
10. Banana and plantains	4,495	4,560	1.5

*Formerly Bars, Rods of Copper

EXPORTS OF GOODS AND SERVICES
3rd Quarter 2007 and 3rd Quarter 2008

At Constant 1985 Prices

I T E M S	3rd Qtr 2007	3rd Qtr 2008	Growth Rate (%)
Total Exports	191,487	200,576	4.7
A. Merchandise Exports	159,617	167,244	4.8
B. Non-Factor Services	31,870	33,332	4.6

At Current Prices

I T E M S	3rd Qtr 2007	3rd Qtr 2008	Growth Rate (%)
Total Exports	717,304	766,560	6.9
A. Merchandise Exports	577,226	604,147	4.7
B. Non-Factor Services	140,079	162,413	15.9

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 27 November 2008