EXTERNAL TRADE PERFORMANCE
p - preliminary
r - revised
APRIL 2012 TOTAL TRADE STANDS AT $9.405 BILLION
Total external trade in goods for April 2012 reached $9.405 billion, representing a 4.3 percent decrease from $9.832 billion recorded during the same month in 2011. This was due to the 13.7 percent decline in total imports from $5.525 billion to $4.770 billion in April 2012. However, exports increased by 7.6 percent to $4.635 billion from $4.306 billion in April 2011. Thus, the balance of trade in goods (BOT-G) for the Philippines in April 2012 registered a deficit of $135 million from $1.219 billion deficit in the same period last year.
Figure 2A Philippine Trade Performance in January - April : 2012 and 2011
(F.O.B. Value in Million US Dollars)
Figure 2B Philippine Trade Performance in April : 2012 and 2011
(F.O.B. Value in Million US Dollars)
APRIL 2012 IMPORTS DOWN BY 13.7 PERCENT
The country’s total merchandise imports for April 2012 went down by 13.7 percent from $5.525 billion to $4.770 billion. Similarly, it decreased by 11.2 percent compared to previous month’s level to $5.371 billion. On the other hand, aggregate imports went down by 4.6 percent from $21.257 billion value in the first four-month period in 2011 to $20.271 billion for the same period in 2012.
ELECTRONIC PRODUCTS ACCOUNT FOR 27.6 PERCENT OF IMPORT BILL
Accounting for 27.6 percent of the aggregate import bill, payments for Electronic Products (including consigned and direct importation using the expanded coverage of electronic products) went down by 22.1 percent from reported value of $1.690 billion in April 2011 to $1.317 billion in April 2012. However, it increased by 4.6 percent from $1.260 billion recorded in March 2012. Among the major groups of electronic products, Components/Devices (Semiconductors) having the biggest share of 21.4 percent decreased by 29.0 percent from $1.437 billion to $1.021 billion.
Import bill payments for Mineral Fuels, Lubricants and Related Materials ranked second among the top ten imports with 22.1 percent share to total imports. It went down by 24.3 percent from $1.393 billion to $1.055 billion in April 2012.
Industrial Machinery and Equipment was the PH’s third top import for the month with 5.4 percent share to total imports valued at $256.47 million. This figure was up by 9.3 percent from previous year’s level of $234.65 million.
Transport Equipment contributing 4.7 percent to the total import bill was the fourth top import for the month amounting to $226.08 million. Compared to last year’s amount of $184.46 million, it posted the highest annual growth rate of 22.6 percent among the top ten imports.
Fifth in rank and with 2.8 percent share to the total imports was Plastics in Primary and Non-Primary Forms, recorded $135.55 million worth of imports, higher by 1.8 percent from its year ago level of $133.22 million.
Rounding up the list of the top ten imports for April 2012 were registered Iron and Steel, $119.87 million; Telecommunication Equipment and Electrical Machinery, $107.74 million; Organic and Inorganic Chemicals, $107.56 million; Cereals and Cereal Preparations, $102.34 million; and Feeding Stuff for Animals not including unmilled cereals, $79.52 million.
Aggregate payment for the country’s top ten imports for April 2012 reached $3.507 billion or 73.5 percent of the total import bill.
RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 40.0 PERCENT OF THE TOTAL IMPORTS
Accounting for 40.0 percent of the total imports, payments in April 2012 for Raw Materials and Intermediate Goods amounted to $1.908 billion or 20.6 percent decrement over last year's figure of $2.402 billion. Compared to the previous month’s level, purchases went up by 1.7 percent from $1.875 billion. Semi-Processed Raw Materials had the biggest share of 37.2 percent and valued at $1.776 billion.
Capital Goods, which comprised 25.4 percent of the total imports, went up by 10.5 percent year-on-year to $1.213 billion from $1.098 billion.
Purchases of Consumer Goods amounted to $549.42 million or a negative growth of 2.8 percent from $565.53 million in April 2011.
Imports of commodities under Special Transactions went down by 33.2 percent from $66.46 million to $44.40 million in April 2012.
IMPORTS FROM UNITED STATES OF AMERICA ACCOUNT FOR 11.9 PERCENT
United States of America (USA) including Alaska and Hawaii was the country’s biggest source of imports in April 2012 with 11.9 percent share. Payments were recorded at $567.84 million, a decrease of 6.8 percent from $609.43 million in April 2011. Revenue from PH’s exports to USA, on the other hand, reached $677.47 million, generating a total trade value of $1.245 billion and $109.63 million trade surplus for the Philippines.
Japan including Okinawa was the second top sources of imports with 11.3 percent share to the total import bill amounting to $539.85 million, higher by 22.5 percent from $440.58 million in April 2011. Exports to Japan amounted to $738.79 million, yielding a two-way trade value of $1.279 billion and a trade surplus for PH of $198.94 million.
People’s Republic of China came third, accounting for 9.9 percent share of the total import bill in April 2012 with negative growth of 8.9 percent from $517.19 million to $471.08 million. Exports to People’s Republic of China amounted to $497.70 million resulting to a total trade value of $968.78 million and a trade surplus of $26.61 million.
Singapore ranked fourth among the top sources of imports for the country accounting for 8.8 percent share of the total import bill in April 2012. It was down by 8.7 percent from $460.06 million to $420.06 million. On the other hand, exports to Singapore amounted to $373.30 million resulting to a total trade value of $793.36 million and a trade deficit of $46.76 million.
Fifth in rank was Taiwan, representing 8.4 percent of the total import bill in April 2012 or a decrease of 11.8 percent from $453.66 million during the same month in 2011 to $400.23 million this year. Exports to Taiwan amounted to $157.43 million resulting to a total trade value of $557.66 million and a trade deficit of $242.79 million.
Other major sources of imports for the month of April 2012 were Republic of Korea, $391.99 million; Saudi Arabia $274.53 million; Indonesia, $233.76 million; Thailand, $230.19 million; and Malaysia $170.58 million.
Payments for imports from the top ten sources for April 2012 amounted to $3.700 billion or 77.6 percent of the total.
IMPORTS FROM EAST
Philippines’ total imports in April 2012 to East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 40.6 percent of the county’s total imports with total payments of $1.935 billion or a positive annual growth of 5.2 percent from April 2011 level of $1.839 billion. Total exports to member-countries of East Asia were valued at $2.461 billion, resulting to a total trade of $4.396 billion and a balance of trade in goods (BOT-G) surplus of $526.30 million.
Imports from ASEAN member-countries were recorded at $1.128 billion. It contributed a 23.7 percent share to total imports. However, a decline of 10.4 percent was shown compared from $1.259 billion value in April 2011. On the other hand, exports to ASEAN member-countries worth $780.72 million resulted to a total trade of $1.909 billion and a trade deficit of $347.72 million.
April 2012 imports from European Union were valued at $348.66 million while exports to member-countries of European Union were worth $446.26 million. These aggregated to total trade of $794.92 million and a trade surplus of $97.60 million.
1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darusalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam
3/ - includes Alaska and Hawaii
4/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland
1. Adjustments on electronic import statistics are based on the transactions that pass through the Electronic to Mobile (E2M) 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