EXTERNAL TRADE PERFORMANCE
p - preliminary
r - revised
TOTAL TRADE POSTED AT $5.844 BILLION IN APRIL 2009
Total external trade in goods for April 2009 reached $5.844 billion, representing a 36.4 percent decline from $9.184 billion recorded during the same month in 2008. This was attributed to the 37.4 percent decrease of total imports to $3.041 billion from $4.857 billion reported in March 2008. Similarly, total exports went down by 35.2 percent to $2.803 billion from $4.327 billion recorded a year earlier. Thus, the balance of trade in goods (BOT-G) for the Philippines in April 2009 registered a $238 million deficit from $529 million deficit in the same period last year.
Figure 1A Philippine Trade Performance in January - April : 2009 and 2008
(F.O.B. Value in Million US Dollar)
Figure 1B Philippine Trade Performance in April : 2009 and 2008
(F.O.B. Value in Million US Dollar)
APRIL 2009 IMPORTS FELL BY 37.4 PERCENT
The country's total merchandise imports for April 2009 plunged by 37.4 percent to $3.041 billion from $4.857 billion in April 2008. Month-on-month, it went down by 7.0 percent from $3.270 billion recorded in March 2009.
ELECTRONIC PRODUCTS ACCOUNTED FOR 30.4 PERCENT OF IMPORT BILL
Accounting for 30.4 percent of the aggregate import bill, payments for Electronic Products (including consigned and direct importation using the expanded coverage of electronic products) in April 2009 amounted to $924.42 million. It plummeted by 42.0 percent over last year's figure of $1.595 billion. This was due to the 46.7 percent decrease in the Components/Devices (Semiconductors) which comprised the biggest share of 21.2 percent among the major groups of electronic products. Similarly, it decreased by 17.3 percent from $1.117 billion posted a month ago.
Imports of Mineral Fuels, Lubricants and Related Materials comprising 18.1 percent of the total imports in April 2009 ranked second, valued at $551.67 million over the previous year's level of $1.037 billion.
Cereals and Cereal Preparations, amounting to $242.11 million was the RP's third top import for the month with 8.0 percent share to total imports and showed a positive annual growth of 0.9 percent.
Contributing 4.2 percent to the total import bill and RP's fourth top imports in April 2009 was Transport Equipment with payments placed at $126.65 million. The amount decreased by 58.3 percent from last year's value of $304.07 million.
Fifth in rank and with 3.5 percent share, Industrial Machinery and Equipment registered $106.01 million worth of imports, lower by 47.8 percent from its year ago level of $203.25 million.
Organic and Inorganic Chemicals ranked sixth, representing 3.2 percent of the total imports recorded $97.08 million worth of imports up by 3.0 percent from its year ago level of $94.27 million.
Rounding up the list of the top ten imports for April 2009 were Medicinal and Pharmaceutical Products, accounting for $61.84 million and showed the highest positive growth of 8.7 percent among the top ten imports; Iron and Steel amounting to $56.60 million and posted the highest negative growth of 58.5 percent; Textile Yarn, Fabrics, Made-up Articles and Related Products (including consignment and not on consignment), $55.75 million; and Plastics in Primary and Non-Primary Forms, $55.60 million.
Aggregate payment for the country's top ten imports for April 2009 reached $2.278 billion or 74.9 percent of the total import bill.
Figure 2 Philippine Top Six Imports in April : 2009 and 2008
(F.O.B. Value in Million US Dollar)
RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNTED FOR 34.8 PERCENT OF THE TOTAL IMPORTS
Accounting for 34.8 percent of the total imports, payments in April 2009 for Raw Materials and Intermediate Goods amounted to $1.059 billion or 42.6 percent decline over last year's figure of $1.843 billion. Compared to the previous month's level, purchases fell by 21.5 percent from $1.349 billion. Semi-Processed Raw Materials having the biggest share of 29.7 percent and valued at $903.10 million decreased by 44.5 percent from $1.627 billion level a year ago.
Capital Goods, contributing 29.1 percent to the total imports, plummeted by 35.2 percent year-on-year to $885.01 million from $1.366 billion. Similarly, Mineral Fuels, Lubricants and Related Materials with 18.1 percent share, went down by 46.8 percent to $551.67 million from $1.037 billion in April 2008.
Purchases of Consumer Goods amounted to $502.10 million or a negative growth of 8.9 percent from $551.64 million in April 2008, while Special Transactions dropped by 26.3 percent to $43.66 million from $59.23 million in April 2008.
Figure 3 Philippine Imports by Major Type of Goods in April : 2009 and 2008
IMPORTS FROM JAPAN ACCOUNTED FOR 12.9 PERCENT
Japan (including Okinawa), was the country's biggest source of imports for April 2009 with 12.9 percent share, recorded payments worth $393.02 million, a decline of 28.9 percent year on year from $552.45 million. Revenue from the country's exports to Japan, on the other hand, reached $433.86 million, generating a total trade value of $826.88 million and $40.84 million trade surplus for the Philippines.
United States of America (USA) which includes Alaska and Hawaii with 10.5 percent share of the total import bill amounting to $318.91 million emerged as the second biggest source of imports for April 2009. This value is lower by 43.9 percent from $568.29 million in April 2008. Exports to USA amounted to $447.23 million, yielding a two-way trade value of $766.14 million and a trade surplus for RP of $128.32 million.
People's Republic of China, came third, accounting for 9.3 percent share of the total import bill in April 2009 went down by 19.7 percent to $281.79 million from $350.84 million during the same month in 2008. Exports to People's Republic of China amounted to $306.86 million resulting to a total trade value of $588.65 million and a trade surplus of $25.06 million.
Rank fourth in April 2009 and with 7.2 percent share was Vietnam valued at $219.76 million. This amount increased by 49.7 percent from $146.80 million posted in April 2008. Exports to Vietnam amounted to $42.15 million resulting to a total trade value of $261.91 million and a trade deficit of $177.61 million.
Fifth in rank is Singapore, representing 7.1 percent of the total import bill in April 2009, amounting to $215.95 million. Meanwhile, export receipts from Singapore in April 2009 reached $169.68 million yielding a total trade value of $385.64 million and a trade deficit of $46.27 million.
Other major sources of imports for the month of April 2009 were Taiwan, $211.00 million; Republic of Korea, $165.35 million; Thailand, $140.35 million; Malaysia (including Sabah and Sarawak), $133.69 million; and Indonesia, $112.37 million.
Payments for imports from the top ten sources for April 2009 amounted to $2.192 billion or 72.1 percent of the total.
Figure 4 Philippine Imports by Country in April : 2009
1. Adjustments on electronic import statistics are based on the transactions that pass through the Automated Cargo Operating System (ACOS) of the Bureau of Customs (BOC).
2. Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings. This is in compliance with NSCB Resolution No. 03, Series of 2005 entitled "Approving and Adopting the 2004 Philippine Standard Commodity Classification" by all concerned government agencies and instrumentalities.
(Sgd.) CARMELITA N. ERICTA
Source: Foreign Trade Statistics Section
Industry and Trade Statistics Department
National Statistics Office