TOTAL TRADE UP BY 2.6 PERCENT TO $20.101 BILLION

Total merchandise trade for January to April this year grew by 2.6 percent to $20.101 billion from $19.595 billion last year. Revenues from exports posted a 12.1 percent increase to $10.199 billion this year from $9.101 billion a year ago while expenditures for imports declined by 5.6 percent to $9.903 billion from $10.494 billion. The balance of trade in goods (BOT-G) was in surplus at $296.0 million.

Two-way trade for April 1999 reached $4.943 billion, increasing by 4.2 percent over $4.742 billion last year. This marks the fourth straight increase of monthly merchandise trade. Aggregate earnings from exports amounted to $2.346 billion, up by 2.7 percent from $2.285 billion a year ago while total payment for imports reached $2.597 billion, which was 5.7 percent higher than $2.457 billion a year ago. This is the second consecutive month of growth in imports after 13 straight months of decline. After 10 months of surpluses, the BOT-G for April resulted in a deficit of $251 million, which was 45.9 percent higher than $172 million a year ago.

ELECTRONICS CORNER 24.1 PERCENT OF APRIL IMPORTS BILL

Payments for Electronics and Components, still the top import with a 24.1 percent share, grew by 7.4 percent to $625.04 million from $581.84 million last year.

Accounting for 7.5 percent of the aggregate bill, payments for Telecommunication Equipment and Electrical Machinery dropped by 19.2 percent to $194.00 million from $240.15 million a year ago.

Mineral Fuels, Lubricants and Related Materials, the third top import with a 6.4 percent share, picked up by 2.0 percent to $165.65 million from $162.39 million last year.

Materials/Accessories Imported on Consignment Basis for the Manufacture of Other Electrical and Electronic Machinery and Equipmentcomprised the fourth top import accounting for 6.0 percent of the total bill. Payments reached $156.04 million, increasing by 8.9 percent from $143.29 million in 1998.

The fifth biggest import consisted of Industrial Machinery and Equipment. Payments accounting for 5.7 percent of the total declined by 22.4 percent to $149.09 million from $192.08 million a year ago.

Office and EDP Machines accounting for 5.0 percent of the total was the sixth top import with a value of $129.34 million, which was 11.9 percent lower than $146.79 million last year.

Rounding-up the list of the top imports for April 1999 were Textile Yarn, Fabrics, Made-up Articles and Related Products, $117.95 million; Iron and Steel, $91.73 million; Power Generating and Specialized Machinery, $80.41 million; and Transport Equipment, $73.52 million.

Aggregate payment for the top ten imports for the month amounted to $1.783 billion, or 68.6 percent of the total.

RAW MATERIALS ACCOUNT FOR 43.8 PERCENT

Raw Materials and Intermediate Goods accounted for 43.8 percent of the total imports for April 1999 as payments grew by 18.5 percent to $1.138 billion from $959.88 million last year.

Payments for Capital Goods, which accounted for the second biggest share of the import bill at 36.2 percent, went down by 8.2 percent to $940.97 million from $1.025 billion a year ago.

Purchases of Consumer Goods valued at $217.94 million grew by 4.5 percent from $208.58 million in 1998.

Expenditures for Mineral Fuel and Lubricant went up by 2.0 percent to $165.65 million while payments for Special Transactions grew by 33.6 percent to $135.08 million.

JAPAN SOURCE OF 21.4 PERCENT OF TOTAL

The Japanese market was the top source of imports for the month with a share of 21.4 percent. Payments reached $555.55 million, increasing by 7.7 percent from $515.96 million a year ago. Exports to Japan on the other hand amounted to $327.53 million yielding a two-way trade figure of $883.08 million and a BOT-G deficit of $228.03 million.

The United States, a close second with a 20.8 percent share, reported sales valued at $539.98 million against purchases amounting to $725.60 million. Total trade reached $1.266 billion and the BOT-G was in surplus at $185.62 million.

The third biggest source of imports for April was Republic of Korea. Payments for imports amounted to $203.24 million while revenues for exports reached $56.04 million resulting in a two-way trade value of $259.28 million and a $147.20 million BOT-G deficit.

Other major sources of imports for April 1999 were Taiwan, $140.11 million; Singapore, $136.46 million; China, $125.18 million; Hongkong, $97.08 million; Germany, $96.35 million; Malaysia, $73.05 million; and Thailand, $56.35 million.

Payments for imports from the top ten sources amounted to $2.023 billion or 77.9 percent of the total.

UNCOLLECTED DOCUMENTS

As of press time 91 out of 45,088 export documents and 102 out of 54,782 import documents are still expected from the ports.

Source: National Statistics Office
               Manila, Philippines

Page Last Updated: May 8, 2001