Highlights of the Philippine Export and Import Statistics : June 2017

Reference Number: 

2017-094

Release Date: 

Thursday, August 10, 2017

 

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

JUNE 2017 (Preliminary)

 

 

Exports

Imports

June 2017 p

June 2016 r

June 2017 p

June 2016 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

4,913.01

4,872.90

7,060.25

7,243.66

        Year-on-Year Growth (Percent)

0.8

-9.2

-2.5

21.9

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

2,612.20

2,506.55

1,637.22

1,787.65

        Year-on-Year Growth (Percent)

4.4

-2.0

-8.4

-11.3

 

Top 10 Philippine Exports to All Countries: June 2017 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Electronic Equipment and Parts
   28.6
Woodcrafts and Furniture
 -42.0
Metal Components
   18.7
Other Mineral Products
 -16.9
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
   13.7
Chemicals
 -5.0
Electronic Products
    4.4
Coconut Oil
 
 -4.5
Machinery and Transport Equipment
    1.1
Other Manufactures
 -2.0

 

Top 10 Philippine Imports from All Countries: June 2017 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Medicinal and Pharmaceutical Products
18.5
Iron and Steel
-18.2
Transport Equipment
9.6
Electronic Products
-8.4
Mineral Fuels, Lubricants and Related Materials
3.4
Plastics in Primary  and  Non-Primary Forms
-7.8
Telecommunication Equipment and Electrical Machinery
0.3
Miscellaneous Manufactured Articles
-3.3
   
Industrial Machinery and Equipment
 -2.6
   
Other Food and Live Animals
 -0.7

                                                                             p - preliminary, r - revised

 

 

1.    TOTAL TRADE SUMS UP TO $11.97 BILLION IN JUNE 2017

The country’s total external trade in goods in June 2017 reached $11.97 billion, a decrease of 1.2 percent from $12.12 billion recorded in June 2016.  Total exports rose by 0.8 percent to $4.91 billion in June 2017 from $4.87 billion in the same month of previous year.  On the other hand, total imports dropped by 2.5 percent to $7.06 billion in June 2017 from $7.24 billion in June 2016.  The country’s balance of trade in goods (BoT-G) registered a $2.15 billion deficit in 2017, much lower than the $2.37 billion in June 2016 (Tables 1, 2 and 3).

2.  EXPORTS GROW BY 0.8 PERCENT WHILE IMPORTS DECREASE BY 2.5 PERCENT

The     country’s total export   sales   amounted to $4.91 billion in June 2017, a slight increase of 0.8 percent from $4.87 billion recorded value in the same month of previous year. This was attributed to the five out of the top ten major commodities for the month.  These were electronic equipment and parts (28.6%); metal components (18.7%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (13.7%); electronic products (4.4%); and machinery and transport equipment (1.1%) (Table 2)

On the other hand, the   total   import   goods for the month of June 2017 amounting to $7.06 billion went down by 2.5 percent from $7.24 billion recorded during the same period of the previous year.   The decrease was due to the shortfall of six out of the top ten major import commodities for the month.  These were iron and steel (18.2%); electronic products (8.4%); plastics in primary and non-primary forms (7.8%); miscellaneous manufactured articles (3.3%); industrial machinery and equipment (2.6%); and other food and live animals (0.7%).
(Table 3)

 

3. EXPORTS OF ELECTRONIC PRODUCTS INCREASE BY 4.4 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.62 billion, accounting for 53.3 percent share of the total exports revenue in June 2017. It increased by 4.4 percent in June 2016 with $2.51 billion. Components/Devices (Semiconductors), having the biggest share of 38.9 percent among electronic products, posted an increase of 6.1 percent from $1.80 billion in June 2016 to $1.91 billion in June 2017.

Other Manufactures was the second top export earner with an export revenue of $293.88 million.  Export sales for this commodity group went down by 2.0 percent from the $299.78 million recorded in June 2016.

Machinery and Transport Equipment ranked third, with $270.67 million or 5.5 percent share of the total export receipts. It recorded a slight increase of 1.1 percent from the $267.82 million in June 2016.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships followed next with $155.98 million or 3.2 percent share of the total export receipts in June 2017.  It registered a 13.7 percent increase from the previous year’s $137.15 million.

Woodcrafts and Furniture was recorded the fifth top export earner with $152.02 million or 3.1 percent share of total exports. It went down by 42.0 percent from $262.27 million of the same month of previous year.

Rounding up the list of the top ten exports and their corresponding sales are:

  • Metal Components, with  $118.34 million, grew by 18.7 percent;
  • Other Mineral Products, with $106.74 million, decreased by 16.9 percent;
  • Chemicals, with $101.10 million, went down by 5.0 percent;
  • Coconut Oil, with $100.75 million, decreased by 4.5 percent.
  • Electronic Equipment and Parts, with $91.70 million, increased by 28.6 percent.

Total receipts from the top ten major exports reached $4.01 billion or 81.6 percent of the total export recording a slight increase of 0.6 percent from the previous year’s level of $3.98 billion. (Table 2)

Total  exports  for  January to  June  2017 valued at  $31.04 billion increased by 13.6 percent compared to $27.33 billion in the same period of the previous year.   (Table 2a)

 

4.    ELECTRONIC PRODUCTS ACCOUNT FOR 23.2 PERCENT OF TOTAL IMPORT BILLS

Total payment for the country’s top ten imports for June 2017 reached $5.12 billion, accounting for 72.6 percent share of the total import bills.  (Table 3)

Inbound shipments of Electronic Products in June 2017 accounted for 23.2 percent of the total import bills with a value amounting to $1.64 billion.  It decreased by 8.4 percent from the $1.79 billion of the previous year.  Among electronic products, Components/Devices (Semiconductors),   had the biggest share of 15.3 percent.  It went down by 10.4 percent from $1.21 billion in June 2016 to $1.08 billion in June 2017.

Transport Equipment placed second with  11.7 percent share of total imports valued at $824.60 million.  This registered an increase of 9.6 percent from its previous year’s figure of $752.32 million.

Minerals   Fuels,   Lubricants and Related Materials, contributing 11.4 percent to the total import bills was the country’s  third top import for the month amounting to  $806.90 million.   It went up by 3.4 percent compared to the previous year’s value of $780.65 million.

Imports of Industrial Machinery and Equipment ranked fourth with 7.2 percent share and a reported value of $507.71 million in June 2017.  It slightly fell by 2.6 percent with $521.47 million in June 2016.

Iron and Steel ranked fifth, with 4.3 percent share of the total imports, and was valued at $304.35 million in June 2017.  It registered a 18.2 percent decrease from its previous year’s level of $371.94 million.

Rounding up the list of the top ten imports for June 2017 were:

  • Other Food and Live Animals, $266.54 million; 
  • Miscellaneous Manufactured Articles, $217.72 million
  • Telecommunication Equipment and Electrical Machinery, $216.00 million. 
  • Plastics in Primary and Non-Primary Forms, $182.89 million  
  • Medicinal and Pharmaceutical Products, $160.52 million

Total  imports for the first semester months of  2017  valued  at  $44.22 billion grew by 9.6 percent compared to $40.33 billion in January to June 2016. (Table 3a)

 

5.    EXPORTS OF MANUFACTURED GOODS SLIGHTLY DECREASE

Outward shipments of Manufactured Goods were valued at $4.18 billion, accounting for 85.1 percent share of the total export receipts in June 2017 (Table 4). 

Exports from Mineral Products with a 6.3 percent share of total exports amounted to $310.98 million.   It went up by 27.9 percent in June 2017.

Agro-Based Products with a 6.2 percent share amounted to $303.69 million, it increased by 0.3 percent in June 2017.

Merchandise exports from Special Transactions, contributing 1.8 percent to the total exports revenue decreased by 13.5 percent in June 2017 from the previous year’s figure of $103.87 million. 

Petroleum Products with 0.3 percent share amounting to $14.55 million, decreased by 60.3 percent from $36.66 million in June 2016.

Moreover, sales from Forest Products had 0.2 percent share of the total exports with a value of $10.67 million, it increased by 410.9 in June 2017.

6.    IMPORT OF RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 36.9 PERCENT

By major type of goods, imports of Raw Materials and Intermediate Goods accounted for 36.9 percent of the total  imports.  It decreased by 6.9 percent from $2.80 billion in June 2016 to $2.60 billion in June 2017.  Semi-Processed Raw Materials,  having the biggest share of this commodity group at 34.1 percent, was $2.41 billion.  It fell by 7.8 percent compared with $2.61 billion in June 2016. (Table 5)

Total imports of Capital Goods in June 2017 was valued at $2.30 billion,  accounting for 32.6 percent share of the total imports.  It decreased by 3.5 percent over the previous year's figure of $2.38 billion. 

Imports of Consumer Goods recorded a 18.8 percent share with a total import bills valued at $1.33 billion in June  2017.   It recorded a positive growth of 7.0 percent from $1.24 billion registered in June 2016.

Mineral Fuels, Lubricants and Related Materials with 11.4 percent share of total imports, increased by 3.4 percent to  $806.90 million in  June  2017 from $780.65  million in June 2016.  Other mineral fuel and lubricants such as gas oils, regular and premium unleaded motor spirit and aviation spirit contributed the biggest share of imports for this commodity group at 7.4 percent and valued at $519.70 million.  (Table 5)

Furthermore,   imports of Special Transactions went down by 43.6 percent from $47.01 million recorded in June 2016 to $26.53 million in June 2017.

7.  JAPAN ACCOUNTS FOR 18.5 PERCENT OF TOTAL EXPORTS IN JUNE 2017 

Total export receipts from the country’s top ten market destinations for the month of June 2017 were valued at $4.13 billion or 84.2 percent share of the total (Table 6). 

Japan, including Okinawa, ranked first, accounting for 18.5 percent of total exports, with export receipts valued at $909.17 million in June 2017. It recorded a decrease of 9.0 percent from $999.61 million in the same month of the previous year.

United States of America (USA), including Alaska and Hawaii, ranked second with revenue amounting to $697.75 million, comprising 14.2 percent share of the total exports for June 2017.  It decreased by 8.7 percent from $764.63 million recorded in June 2016.

Hong Kong ranked third with $667.50 million or 13.6 percent share of the total exports.  It grew by 12.6 percent from $592.67 million in the same month the previous year.

People’s Republic of China, with 10.9 percent share of total exports, ranked fourth with shipments valued at $535.62 million.  It went down by 2.4 percent from $548.53 million in the same month the previous year.

Singapore placed fifth, representing 6.1 percent share of total exports, with export earnings worth $299.52 million. It decreased by 7.1 percent from $322.56 million posted in June 2016.

Other top ten market destinations for   June 2017 were: Thailand, $214.32 million; Republic of Korea, $213.01 million; Germany, $206.80 million; Taiwan, $204.38 million; and Netherlands, $186.87 million.

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNT FOR 18.8 PERCENT

Total payments for the top ten imports for June 2017 amounted to $5.60 billion or 79.4 percent of the total. 

People’s Republic of China remained the country’s biggest source of imports at 18.8 percent share in June 2017.  Payments were recorded at $1.33 billion, a decrease of 3.7 percent from $1.38 billion in June 2016.

Japan, including Okinawa came second, contributing 12.8 percent or $901.12 million to the total import bill in June 2017.  It grew by 0.5 percent from the June 2016 value of $896.88 million.   

Thailand placed third, accounting for 7.7 percent share of the total imports worth $545.24 million in   June   2017.   It went up by 0.1 percent from   $544.44  million in  June 2016. 

Republic of Korea was the fourth biggest source of imports for June 2017 with 7.7 percent share of the total import bills amounting to $542.02 million, an increase of 16.0 percent from $467.36 million  in June 2016. 

United States of America (USA), including Alaska and Hawaii ranked fifth, accounting for 7.3 percent share of the total import bills in June  2017.  It went down by 8.2 percent from $558.93 million in June 2016 to $513.27 million in June 2017. 

Other   major sources of imports for the month of June 2017 were: Indonesia, $483.76 million; Singapore, $443.76 million; Taiwan, $339.77 million; Malaysia (includes Sabah and Sarawak), $282.74 million; and Hong Kong, $225.37 million.

9.  EXPORTS TO COUNTRIES IN EAST ASIA ACCOUNT FOR 51.6 PERCENT 

By economic bloc, bulk of the country’s merchandise exports in June 2017 went to countries in East Asia,   accounting for 51.6 percent share of total exports valued at $2.534 billion.  It increased by 2.1 percent from $2.48 billion of June 2016.        

Commodities exported to ASEAN member countries comprised 14.9 percent of the total exports in June 2017 and was valued at $731.70 million. This registered an increase of 4.8 percent from $698.30 million posted in the same month of the previous year. (Table 9)

Exports to European Union member countries, with 12.5 percent share of total merchandise exports, amounted to $616.13 million.  It went up by 3.9 percent from $592.92 million recorded in June 2016.

 

10.    IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 47.3 PERCENT

By economic bloc, East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) was the biggest source of the country’s imports in June 2017 accounting for 47.3 percent of the total imports valued at $3.34 billion.  It decreased by 3.6 percent from $3.46 billion in June 2016. 

Commodities imported from ASEAN member countries were valued at $1.97 billion.  It contributed 27.9 percent share to the total imports and registered an increase of 4.5 percent from $1.88 billion recorded in June 2016.

Imports from European Union  were valued at $495.22 million.  It rose by 0.5 percent compared with the previous year’s value of $492.53 million.  (Table 10)

 

 

 

 

Technical Notes

 

Export and Import trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export and import documents submitted to the Bureau of Customs (BOC) by exporters and importers or their authorized representatives as required by law.  PSA collects copies of these accomplished forms.  These are the following documents:

1.    Export Declaration (ED – DTI form)

2.    Import Entry & Internal Revenue Declaration (BOC IEIRD Form 236)

3.    Informal Import Declaration and Entry (BOC Form 177)

4.    Single Administrative Documents (SAD)

The output of the Automated Export Documentation System (AEDS) is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents.

Moreover, an electronic copy of the IEIRD, or SAD, is utilized to capture the monthly import figures.  SAD-IEIRD is an on-line submission of import documents either by brokers or companies.  These are transactions that pass through the Automated Cargo Operating System (ACOS), now called the e2m (electronic to mobile) customs system, a system implemented through the BOC e-Customs Project.

All documents (hard copies and e-files) received before the cut-off date which is every 25th day of the month, are compiled, processed and generated in monthly statistical tables for the preparation of Press Release.  All documents received after the cut-off date, however, are processed and included in the generation of the revised monthly statistical tables.

The digitized copies of all documents are provided by BOC and PEZA to PSA on a monthly basis through email.

Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release is due every 10th day of every month.  However, if the 10th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday.  If the release date falls on a holiday, the date of release is moved accordingly.

The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed 10-digit code level for statistical purposes.

Data requests of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

 

 

 

(SGD.)  LISA GRACE S. BERSALES, Ph. D.
Undersecretary
National Statistician and Civil Registrar General

 

 

 

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