Exports increase by 23.6% in December
Davao City (11 February) -- Merchandise exports grew in December 2009 by 23.6 percent year-on-year amounting to US$ 3.3 billion. This record growth is the highest since the 27.7 percent growth in March 2006, according to preliminary reports of the National Statistics Office.
For the full year 2009, merchandise exports reached $38.3 billion.
Manufactured goods pushed up exports growth, increasing by 26.4 percent year-on-year on account of the double-digit growth in electronic products (40.8 %) compared to the same period in 2008. The rise in electronics exports were led by semiconductors (40.9%), electronic data processing (71.1%), and communication / radar (202.3%).
"This performance is consistent with the Semiconductor Industry Association?s report that December 2009 worldwide chip sales were 29 percent higher than December 2008 but 1.2 percent lower than November 2009," Acting Socioeconomic Planning Secretary Augusto B. Santos said in his memorandum to the President.
A book-to-bill ratio of 1.03 was recorded for December 2009 as reported by the North American Semiconductor Equipment Industry. "This means that US$103 worth of orders was received for every US$100 of product billed for the month," explained Santos. The report included front-end equipment (e.g., wafer processing, wafer manufacturing, and fab facilities) and final manufacturing equipment (e.g., assembly, packaging, and test).
Meanwhile, exports receipts from total agro-based products and forest products fell by 5.4 percent and 2.2 percent, respectively.
Santos noted that "the pace of recovery in global demand for Philippine goods remains measured as the December export amount was 11.0 percent less than in November 2009".
The US is still the top export destination of the country for the month as it covered a 19.0 percent share value in outbound shipments. Higher orders for electronic data growth in exports to the US by 9.4 percent year-on-year. Japan was the second biggest export destination with a 15.4 percent share. Other major buyers in December include the Netherlands, Singapore, and Germany.
Total orders from the five biggest buyers in December increased significantly by 32.5 percent from the same month a year ago. Semiconductors, EDP machines, and garments were the major exports to the five biggest markets for the month. (NEDA) [top]