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Release Date :
Reference Number :
2010-108

 

EXTERNAL TRADE PERFORMANCE
April 2010

(Preliminary)

p - preliminary
r - revised

APRIL 2010 TOTAL TRADE STOOD AT $8.036 BILLION

Total external trade in goods for January to April 2010 reached $32.100 billion, a 37.3 percent increment from $23.386 billion registered during the same period in 2009. Total imports posted a 35.7 percent annual increase to $17.175 billion from $12.656 billion. Similarly, receipts from merchandise exports  posted an increase of 39.1 percent to $14.925 billion in January to April of 2010 from $10.730 billion during the same period in 2009.  Thus, the balance of trade in goods (BOT-G) for the Philippines posted a deficit of $2.250 billion during the 4-month period in 2010, a value higher than the $1.926 billion deficit in the same 4-month period  last year.

Figure 1A  Philippine Trade Performance in January - April : 2010 and 2009
(F.O.B. Value in Million US Dollars)

Figure 1B  Philippine Trade Performance in April : 2010 and 2009
(F.O.B. Value in Million US Dollars)

APRIL 2010 IMPORTS UP BY 45.3 PERCENT

Combined import and export merchandise trade for April 2010 improved by 37.1 percent to $8.036 billion from $5.861 billion in April 2009.   This was due to the double-digit increase in total merchandise imports at 45.3 percent to $4.441 billion from $3.057 billion in April 2009.  Total exports likewise rose by 28.2 percent to $3.595 billion from $2.804 billion. The balance of trade in goods (BOT-G) in April 2010 recorded a deficit of $846.00 million, higher than last year�s recorded deficit of $253.00 million.  However, on a month-on-month basis, total imports for April 2010 decline by 2.2 percent from $4.543 billion recorded in March 2010.

ELECTRONIC PRODUCTS ACCOUNTED FOR 34.1 PERCENT OF IMPORT BILL

Accounting for 34.1 percent of the aggregate import bill, payments for Electronic Products (including consigned and direct importation using the expanded coverage of electronic products) in April 2010 amounted to $1.514 billion. It went up by 63.7 percent over last year's figure of $924.74 million.  On a monthly basis, it grew by 0.5 percent from $1.506 billion recorded in March 2010. Among the major groups of electronic products, Components/Devices (Semiconductors) having the biggest share of 25.4 percent, climbed by 75.3 percent to $1.130 billion from $644.49 million.

Imports of Mineral Fuels, Lubricants and Related Materials in April 2010 ranked second with 17.2 percent share and posted a positive growth of 35.6 percent to $762.79 million over the previous year�s level of $562.67 million.

Cereals and Cereal Preparations, was the RP�s third top imports for the month with 6.5 percent share to total imports at $290.40 million. The value was up by 20.0 percent from it�s previous year level of $242.10 million.   

Transport Equipment, contributing 4.9 percent to the total import bill, was the RP�s fourth top import for the month with payments placed at $219.19 million from last year�s $128.54 million. It accelerated by 70.5 percent.

Fifth in rank and with 4.6 percent share to the total imports, Industrial Machinery and Equipment recorded $206.00 million worth of imports, higher by 93.9 percent from its year ago level of $106.21 million.

Organic and Inorganic Chemicals ranked sixth, comprising 2.8 percent of the total imports registered at $125.41 million, rose by 28.5 percent from its year ago level of $97.62 million.

Rounding up the list of the top ten imports for April 2010 were Iron and Steel accounting for $113.18 million expanded by 99.9 percent (highest annual growth rate among the top ten imports;  Plastics in Primary and Non-Primary Forms amounting to $88.20 million grew by 58.7 percent; Telecommunication Equipment and Electrical Machinery (including telecommunications and sound recording and reproducing apparatus and equipment), $75.53 million was up by 63.8 percent; and Medicinal and Pharmaceutical Products, n.e.s., $73.01 million increased by 18.2 percent.

Aggregate payment for the country�s top ten imports for April 2010 reached $3.467 billion or 78.1 percent of the total import bill.

Figure 2  Philippine Top Six Imports in April : 2010 and 2009
(F.O.B. Value in Million US Dollars)

RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNTED FOR 37.0 PERCENT OF THE TOTAL IMPORTS

Accounting for 37.0 percent of the total imports, payments in April 2010 for Raw Materials and Intermediate Goods amounted to $1.642 billion or a 54.7 percent increase over last year's figure of $1.062 billion.  Compared to the previous month�s level, purchases went up by 3.1 percent from $1.593 billion. Semi-Processed Raw Materials had the biggest share of 33.6 percent and valued at $1.490 billion.

Capital Goods, which comprised 29.4 percent of the total imports, went up by 47.3 percent year-on-year to $1.307 billion from $887.26 million.

Mineral Fuels, Lubricants and Related Materials with 17.2 percent share, increased by 35.6 percent to $762.79 million from $562.68 million in April 2009.

Purchases of Consumer Goods amounted to $652.17 million or an increase of 29.8 percent from $502.31 million in April 2009.  Similarly, Special Transactions went up by 78.3 percent to $77.39 million from $43.40 million in April 2009.

Figure 3  Philippine Imports by Major Type of Goods in April : 2009 and 2010
(F.O.B. Value in Million US Dollars)

          

IMPORTS FROM JAPAN ACCOUNTED FOR 12.7 PERCENT

Japan including Okinawa, was the country�s biggest source of imports for April 2010 with 12.7 percent share of the total import bill, higher by 42.9 percent to $561.61 million from $393.13 million in April 2009.  Exports to Japan amounted to $617.10 million, yielding a two-way trade value of $1.179 billion and a trade surplus for RP of $55.49 million.

United States of America (USA) including Alaska and Hawaii, the second biggest source of imports with 10.8 percent share, recorded payments worth $480.76 million, an increase of 50.7 percent from $319.00 million in April 2009.  Revenue from RP�s exports to USA, on the other hand, reached $574.33 million, generating a total trade value of $1.055 billion and $93.56 million trade surplus for the Philippines.

Singapore, came third, accounting for 10.0 percent share of the total import bill in April 2010 increased by 105.7 percent to $445.15 million from $216.38 million during the same month in 2009. Exports to Singapore amounted to $308.71 million resulting to a total trade value of $753.86 million and a trade deficit of $136.44 million.

People�s Republic of China settled fourth, accounting for 8.0 percent share of the total import bill in April 2010 or an increase of 26.1 percent to $355.28 million from $281.75 million during the same month in 2009.  Exports to People�s Republic of China amounted to $359.34 million resulting to a total trade value of $714.62 million and a trade surplus for the Philippines of $4.07 million.

Fifth in rank is Thailand, representing 6.4 percent of the total import bill in April 2010, amounted to $284.13 million. Meanwhile, export receipts from Thailand in April 2010 reached $114.46 million yielding a total trade value of $398.59 million and a trade deficit of $169.67 million.

Other major sources of imports for the month of April 2010 were Republic of Korea, $283.94 million; Taiwan, $281.44 million; Vietnam, $221.43 million; Malaysia, $188.13 million; and Indonesia $158.21 million.

Payments for imports from the top ten sources for April 2010 amounted to $3.260 billion or 73.4 percent of the total.

Figure 4  Philippine Imports by Country in April : 2010

IMPORTS FROM EASTERN ASIA WORTH $1.623 BILLION

Philippines total imports in April 2010 from Eastern Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 36.6 percent of the county�s total imports with total payments of $1.623 billion or a positive annual growth of 39.9 percent  from April 2009 level of $1.161 billion.  Total exports to member-countries of Eastern Asia was valued at $1.631 billion, resulting to a total trade of $3.254 billion and a balance of trade in goods (BOT-G) surplus of $7.45 million.

Imports from ASEAN member-countries in April 2010 amounted to $1.297 billion, a 29.2 percent share contribution to total imports.  It was higher by 55.2 percent from $836.05 million registered in April 2009. Exports to ASEAN member-countries worth $600.51 million, resulting to a total trade of $1.898 billion and a trade deficit of $697.06 million.

April 2010 imports from European Union were valued at $294.40 million while exports to member-countries of European Union were worth $605.53 million.  It aggregated to a total trade of $899.94 million and a trade surplus of $311.13 million.

Figure 5  Philippine Imports by Selected Economic Bloc in April : 2009 & 2010
(F.O.B. Value in Million US Dollars)

Technical Notes:

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
Administrator

 

Source:   Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines

 

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