Highlights of the Philippine Export and Import Statistics : September 2017

Reference Number: 

2017-135

Release Date: 

Friday, November 10, 2017

 

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

SEPTEMBER 2017 (Preliminary)

 

 

Exports

Imports

September 2017 p

September 2016 r

September 2017 p

September 2016 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

5,594.32

5,361.57

7,509.14

7,381.22

        Year-on-Year Growth (Percent)

4.3

8.1

1.7

18.0

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

2,926.36

2,743.98

1,806.91

1,916.66

        Year-on-Year Growth (Percent)

6.6

6.5

-5.7

-5.9

 

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

Gainers

Losers

Gold
 171.3
Chemicals
 -28.6
Coconut Oil
   63.8
Other Mineral Products
 -25.2
Machinery and Transport Equipment
   34.9
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
 -17.4
Metal Components
   8.2
 
 
Other Manufactured Goods
   6.9
 
 
Electronic Products
   6.6    
           
 

Note:  Cathodes and Sections of Cathodes, of Refined Copper commodity has no previous years report.

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

Gainers

Losers

Mineral Fuels, Lubricants and Related Material
   40.4
Plastics in Primary and Non-primary Forms
 -12.8
Iron and Steel
   25.8
Transport Equipment
   -8.9
Telecommunication Equipment and Electrical Machinery
     7.8
Miscellaneous Manufactured Articles
   -6.8
Cereal and Cereal Preparations
     5.0
Industrial Machinery and Equipment
   -6.0
 
    
Electronic Products
   -5.7
         Other Food and Live Animals    -2.6
p - preliminary, r - revised

 

 

1.    TOTAL TRADE SUMS UP TO $13.10 BILLION IN SEPTEMBER 2017

The country’s total external trade in goods in September 2017 reached $13.10 billion, posting  an  increment of 2.8 percent from $12.74 billion registered   during  the  same  month of the previous year. Total exports went up by 4.3 percent to $5.59 billion in September 2017 from $5.36 billion in the same month of previous year.  Correspondingly, total imports increased by 1.7 percent to $7.51 billion in September 2017 from $7.38 billion in September 2016.  The country’s total balance of trade in goods (BoT-G) amounting to $1.91 billion in September 2017, lower than the $2.02 billion in September 2016.  (Tables 1, 2 and 3)

2. EXPORTS GROW BY 4.3 PERCENT AND IMPORTS 1.7 PERCENT

The country’s total export sales amounted to $5.59 billion in September 2017, an increase of 4.3 percent over the recorded value of $5.36 billion in the same month of previous year. This was attributed to the increases in growth of six out of the top ten major commodities for the month.  These were gold (171.3%); coconut oil (63.8%); machinery and transport equipment (34.9%); metal components (8.2%); other manufactured goods (6.9%); and electronic products (6.6%). (Table 2)

Moreover, the   total   import   goods for the month of September 2017 reaching $7.51 billion, grew by a minimal 1.7 percent from $7.38 billion recorded during the same period of the previous year.   The increase was due to the positive performance of four out of the top ten major import commodities for the month.  These were mineral fuels, lubricants and related materials (40.4%); iron and steel (25.8%); telecommunication equipment and electrical machinery (7.8%) and cereals and cereal preparations (5.0%).  (Table 3)

 

3. EXPORTS OF ELECTRONIC PRODUCTS WENT UP BY 6.6 PERCENT

Electronic Products continued to lead the top ten export commodities with total receipts of $2.93 billion, comprising 52.3 percent share of the total exports revenue in September 2017. It went up by 6.6 percent from an export value of $2.74 billion in September 2016. Components/Devices (Semiconductors) accounted for the biggest share of 38.6 percent among electronic products and posted an increment of 8.4 percent to $2.16 billion in September 2017 from $1.99 billion in September 2016.

Machinery and Transport Equipment came in second, with $505.98 million or a share of 9.0 percent of the total export receipts. This export commodity posted an increase of 34.9 percent  from the $375.12 million recorded in September 2016.

Other Manufactured Goods, was the third top export earner with an export revenue of $329.33 million.  Export sales for this commodity group rose by 6.9 percent  from the $308.03 million recorded in September 2016.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships placed fourth with $153.66 million or 2.7 percent share of the total export receipts in September 2017.  It dropped by 17.4 percent from the previous year’s $185.94 million.

Coconut Oil ranked fifth with an export sales of $143.43 million and a share of 2.6 percent in September 2017. It posted a positive growth of 63.8 percent over the previous year’s export of $87.55 million.  

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

  • Cathodes & Sections of Cathodes, of Refined Copper, with $131.89 million;
  • Metal Components, with  $123.51 million, went up  8.2 percent;
  • Other Mineral Products, with $109.13 million, declined  by 25.2 percent;
  • Chemicals, with $97.47 million, dropped by 28.6 percent;
  • Gold, with $95.63 million, rose by 171.3 percent;

Total receipts from the top ten major exports amounted to $4.62 billion or 82.5 percent of the total export, recording an increase of 11.7 percent from the previous year’s level of $4.13 billion. (Table 2)

Total  exports  for  January  to  September  2017  valued  at  $47.71 billion, increased by 12.2 percent compared to $42.52 billion in the same period of the previous year.   (Table 2a)

 

4.    ELECTRONIC PRODUCTS ACCOUNT FOR 24.1 PERCENT OF TOTAL IMPORT BILLS

Total payment for the country’s top ten imports for September 2017 reached $5.49 billion, posting a growth of 2.4 percent over the previous year’s import value of $5.37 billion.  (Table 3)

Inbound shipments of Electronic Products in September 2017 accounted for 25.4 percent of the total import bills valued at $1.81 billion.  It declined by 5.7  percent   from the $1.92 billion posted during the previous year. Among electronic products, Components/Devices (Semiconductors),   had the biggest   share  of 16.5 percent.  It slightly went down by 0.2 percent to $1.239 billion in September 2017 from $1.241 billion in September 2016.

Minerals   Fuels,   Lubricants    and    Related   Materials, accounting for a share of 13.5 percent to the total import bills was the country’s  second  top   import  for   the   month amounting to  $1.01 billion.   It grew by 40.4 percent over the previous year’s value of $719.73 million.

Transport Equipment  placed third with  an import value of $750.08 million. It posted a decrease of 8.9 percent from the previous year’s recorded value of $823.10 million.

Imports of Industrial Machinery and Equipment ranked fourth with 6.4 percent share and an import value of $482.53 million in September 2017.  Import of this commodity declined by 6.0 percent from $513.30 million in September 2016.

Iron and Steel, placed fifth with an import value of $375.27 million and a share of 5.0 percent. Import of this commodity went up by 25.8 percent over the last year’s figure of $298.26 million.

Completing the list of the top ten imports for September 2017 were: 

  • Other Food and Live Animals, $268.49 million, dropped by 2.6 percent;
  • Miscellaneous Manufactured Articles, $237.56 million, declined by 6.8 percent;
  • Telecommunication Equipment and Electrical Machinery, $209.73 million, increased by 7.8 percent; 
  • Plastic in Primary and Non-Primary Forms, $179.73 million, went down by12.8 percent; and
  • Cereal and Cereal Preparations, $173.37 million, grew by 5.0 percent.

Total imports from January to September 2017 amounted $66.65 billion which grew by 7.4 percent compared to $62.04 billion in January to September 2016. (Table 3a)

 

5.    EXPORTS OF MANUFACTURED GOODS INCREASE BY 1.8 PERCENT

Outward shipments of Manufactured Goods were valued at $4.71 billion, accounted for 84.2 percent share of the total export receipts in September 2017 (Table 4). 

Total Agro-Based Products with a share of 7.2 percent reached $403.30 million, growing by 5.4 percent in September 2017.

Exports from Mineral Products contributing a share of 6.4 percent of total exports amounted to $359.25 million.   It increased by 56.6 percent in September 2017.

Merchandise exports from Special Transactions, with a share of 1.7 percent to the   total exports revenue, decreased by 3.8 percent in September 2017 from the previous year’s figure of $96.06 million. 

Exports of Forest Products accounting for a 0.4 percent share of the total   exports had a value of $20.54 million. Exports of this goods surged by 709.5 percent in September 2017.

Petroleum Products with 0.2 percent share amounting to $9.82 million, declined by 58.2 percent from $23.50 million in September 2016.

 

5.    IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 37.4 PERCENT

By major type of goods, imports of Raw Materials and Intermediate Goods posted the largest share of 37.4 percent to total  imports.  It went down  by 0.7 percent  to   $2.81 billion in September 2017 from $2.82 billion in September 2016.  Semi-Processed Raw Materials, with $2.57 billion, accounted for a share  of  34.3 percent of the commodity group. Import of this commodity  declined  by 0.3 percent from the  $2.58 billion recorded in September 2016. (Table 5)

Total imports of Capital Goods in September 2017 was valued at $2.30 billion,  accounting for 30.6 percent share of the total imports.  It dropped by 6.1 percent over the previous  year's import value of $2.45 billion. 

Imports of Consumer Goods contributed an 18.2 percent share with total import bills valued at $1.37 billion in September  2017. It reflected a growth of 2.1 percent from $1.34 billion registered in September 2016.

Mineral Fuels, Lubricants and Related Materials comprising 13.5 percent share of total imports, rose by 40.4 percent to $1.01 billion  in  September  2017 from $719.73  million in September 2016.  Other mineral fuels, lubricants and related materials such as gas oils and greases had the biggest share of imports for this commodity group at 6.6 percent valued at $499.30 million.  (Table 5)

Furthermore,   imports  of  Special  Transactions  went down by 41.2 percent from $52.08 million registered  in September 2016 to $30.62 million in September 2017.  

5.    USA ACCOUNTS FOR 14.3 PERCENT OF TOTAL EXPORT IN SEPTEMBER 2017

Total exports receipt from the country’s top ten market destinations for the month of September 2017 was valued at $4.43 billion or 79.3 percent share of the total (Table 6). 

United States of America (USA), including Alaska and Hawaii, ranked first with revenue amounting to $802.59 million, comprising 14.3 percent share of the total exports for September 2017.  It went up by 4.9 percent from $764.84 million recorded in September 2016.

Hong Kong placed second with $769.04 million or 13.7 percent share of the total exports.  It went up by 29.0 percent from $596.20 million in the same month the previous year.

Japan, including Okinawa, placed third, accounting for 13.7 percent of total exports, with export receipts amounting to $767.81 million in September 2017. It slid by 32.1 percent from $1.13 billion during the same month of the previous year.

People’s Republic of China, representing 12.0 percent share of total exports, ranked fourth   with   shipments   valued   at   $671.56 million.  Exports to this country slightly declined by 0.5 percent from $675.07 million in the same month the previous year.

Singapore placed fifth, comprising 5.7 percent share of total exports, with earnings valued at $318.63 million. It declined by 5.2 percent from $335.94 million posted in September 2016.

Completing  the  top   ten market destinations for   September 2017 were: Germany, $235.57 million; Netherlands, $235.03 million Thailand, $228.44 million; Republic of Korea, $215.29 million; and Portugal, $190.33 million.

 

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNTS FOR 18.0 PERCENT

Total payments from the top ten imports for September 2017 reached $5.78 billion or 77.0 percent of the total. 

People’s Republic of China  was the country’s biggest source of imports with 18.0 percent share in September 2017.  Import payments to this country amounted to $1.35 billion, a decrease of 7.3 percent from $1.46 billion in September 2016.

Japan, including Okinawa placed second, comprising 10.9 percent or $816.15 million to the total import bill in September 2017.  It  dropped by 8.1 percent from the September 2016 value of $888.18 million.   

Republic of Korea  comprising for 9.3 percent share, placed third with imports valued at $700.22 million in September 2017. Import bills to this country registered an increase of 52.9 percent  from  $457.84 million  in  September 2016. 

United States of America (USA), including Alaska and Hawaii ranked fourth, with a 7.5 percent share of the total import bills in September  2017.  It declined by 18.3 percent from $687.19 million in September 2016 to $561.27 million in September 2017. 

Thailand placed fifth, accounting for a 7.1 percent share of the total imports worth $533.99 million in   September   2017.   It  went down by 8.2 percent   from   $581.59 million  in  September 2016. 

Other   major sources of imports for the month of September 2017 were: Indonesia, $450.49 million; Taiwan, $435.22 million; Singapore, $390.07 million; Malaysia (includes Sabah and Sarawak), $307.85 million; and Vietnam, $233.36 million.

 

9.    EXPORTS TO COUNTRIES IN EAST   ASIA   ACCOUNT   FOR 46.7 PERCENT

By economic bloc, the bulk of the country’s merchandise exports in September 2017 went to countries in East Asia,   comprising for 46.7 percent share of total exports valued at $2.61 billion.  It posted a decrease of  6.0 percent from $2.78 billion in September 2016.        

Exports to European Union member countries, with 17.9 percent share of total merchandise exports, reached $1.00 billion.  It went up by 40.0 percent from $714.90 million registered  in September 2016.

Commodities exported to ASEAN member countries comprised 14.9 percent of the total exports in September 2017 valued at $830.82 million. This registered an increase of 7.6 percent from $772.28 million posted in the same month of the previous year. (Table 7)

 

9.     IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 46.6 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 September 2017 comprising 46.6 percent of the total imports valued at $3.50 billion.  It grew by 1.9 percent from $3.44 billion in September 2016. 

Commodities    imported   from   ASEAN   member   countries amounted to  $1.92 billion.  It contributed a 25.6 percent share to the total imports declining by 2.3 percent from the previous year’s import recorded at $1.96 billion.

Imports     from    United States of America   reached   $561.27 million.  It contracted by 18.3 percent compared with the previous year’s value of $687.19 million.  (Table 9)

 

 

 

 

 

 

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) of the BOC 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 for a reference month is due 40 days after 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).

 

 

FOR THE DEPUTY NATIONAL STATISTICIAN:

 

(Sgd) DULCE A. REGALA
(Assistant National Statistician, Economic Sector Statistics Service)
Officer-in-Charge

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