EXTERNAL TRADE PERFORMANCE
APRIL 2016
(Preliminary)
|
April
|
||
---|---|---|---|
|
2016 p |
2015 r |
|
TOTAL IMPORTS FOB Value in Million US Dollars Year-on-Year Growth (Percent) Electronic Products FOB Value in Million US Dollars Year-on-Year Growth (Percent) |
6,528.96 29.2
1,740.40 69.9 |
5,052.99 -5.8
1,024.21 -2.0 |
Top 10 Philippine Imports from All Countries: April p
(Year-on-Year Growth in Percent)
|
|||
---|---|---|---|
Gainers |
Losers |
||
Metal Products
|
91.0 |
Mineral Fuels, Lubricants and Related Materials
|
-10.9 |
Industrial Machinery and Equipment
|
73.9 |
|
|
Telecommunication Equipment and Electrical Machinery
|
72.8 |
|
|
Electronic Products
|
69.9 |
|
|
Iron and Steel |
62.9 |
|
|
Miscellaneous Manufactured Articles
|
34.2 |
|
|
Plastics in Primary and Non-Primary Forms
|
31.0 | ||
Transport Equipment
|
25.4 | ||
Other Food and Live Animals
|
7.5 |
p-preliminary, r-revised
IMPORTS ACCELERATED BY 29.2 PERCENT IN APRIL 2016
The total imported goods by the country for the month of April 2016 amounted to $6.529 billion, an increase of 29.2 percent from $5.053 billion recorded during the same period a year ago. The increase was due to the positive performance of nine out of the top ten major imported commodities for the month led by metal products (91.0%). The other eight were: industrial machinery and equipment (73.9%), telecommunication equipment and electrical machinery (72.8%), electronic products (69.9%), iron and steel (62.9%), miscellaneous manufactured articles (34.2%), plastics in primary and non-primary forms (31.0%), transport equipment (25.4%), and other food & live animals (7.5%). (Table 2)
Cumulative imports for January to April 2016 amounted to $25.126 billion sharing a 13.5 percent increase compared with $22.142 billion in the same period of last year.
The balance of trade in goods (BOT-G) for the Philippines in April 2016, registered a deficit of $2.275 billion, higher than the $618.95 million trade deficit in the same month last year. (Table 1)
ELECTRONIC PRODUCTS ACCOUNT FOR 26.7 PERCENT SHARE OF IMPORT BILL
Total payment for the country’s top ten imports for April 2016 reached $4.775 billion or 73.1 percent share of the total import bill. (Table 2)
Inbound shipments of Electronic Products in April 2016 accounted for 26.7 percent share of the total import bill with value amounting to $1.740 billion. It increased by 69.9 percent over the last year's figure of $1.024 billion. Components/Devices (Semiconductors), had the biggest share of 17.3 percent among electronic products, went up by 74.1 percent to $1.132 billion in April 2016 from $650.19 million in April 2015.
Minerals Fuels, Lubricants and Related Materials placed second with 10.6 percent share to total imports valued at $694.52 million. This registered a decrease of 10.9 percent from its previous year’s level of $779.28 million.
Transport Equipment, contributing 10.2 percent to the total import bill was the country’s third top import for the month amounting to $668.18 million. It rose by 25.4 percent compared to last year’s value of $533.00 million.
Imports of Industrial Machinery and Equipment ranked fourth with 7.4 percent share and reported value of $481.66 million in April 2016. It accelerated by 73.9 percent from $276.99 million in April 2015.
Other Food and Live Animals ranked fifth, with 4.0 percent share to the total imports which was valued at $259.70 million in April 2016. It registered a 7.5 percent increase from its year ago level of $241.52 million.
Rounding up the list of the top ten imports for April 2016 were:
- Iron and Steel, $258.62 million
- Miscellaneous Manufactured Articles, $190.47 million
- Telecommunication Equipment and Electrical Machinery, $182.07 million
- Plastics in Primary and Non-Primary Forms, $164.82 million
- Metal Products, $134.51 million.
PURCHASES OF RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 37.6 PERCENT OF THE TOTAL IMPORTS
Total importation of Raw Materials and Intermediate Goods in April 2016 were valued at $2.457 billion, accounting for 37.6 percent share of the total imports. It increased by 28.9 percent over last year's figure of $1.906 billion. Semi-Processed Raw Materials, having the biggest share of this commodity group at 35.0 percent was valued at $2.286 billion. It went up by 35.9 percent compared with $1.682 billion in April 2015.
Payments for inward shipments of Capital Goods accounted for 33.7 percent of the total imports. It increased by 56.7 percent to $2.201 billion in April 2016 from $1.405 billion in April 2015. (Table 3)
Purchases of Consumer Goods recorded 17.4 percent share with a total import bill valued at $1.136 billion in April 2016. It recorded a positive growth of 21.3 percent from $936.81 million registered in April 2015.
Mineral Fuels, Lubricants and Related Materials with 10.6 percent share to total imports, decreased by 10.9 percent from $779.28 million in April 2015 to $694.52 million in April 2016. Other mineral fuel and lubricants such as gas oils, regular and premium unleaded motor spirit and aviation spirit contributed the biggest share of imports in this commodity group at 6.5 percent and valued $421.39 million. (Table 3)
Furthermore, imports of Special Transactions went up by 56.9 percent to $40.95 million recorded in April 2016 from $26.10 million in April 2015.
IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNT FOR 20.0 PERCENT
Aggregate payments from the top ten imports sources for April 2016 amounted to $5.125 billion or 78.5 percent of the total import bill. (Table 4)
People’s Republic of China remained as the country’s biggest source of imports at 20.0 percent share in April 2016. Payments were recorded at $1.309 billion, an increase of 68.8 percent from $775.29 million in April 2015. Revenue from the country’s exports to People’s Republic of China, on the other hand, reached $416.08 million, generating a total trade value of $1.725 billion and $892.74 million trade deficit. (Tables 4 and 5)
Japan including Okinawa, came second, contributing 11.5 percent or $748.68 million to the total import bill in April 2016. It grew by 116.2 percent from its April 2015 value of $346.34 million. Export receipts from Japan in April 2016 reached $850.72 million yielding a total trade value of $1.599 billion and a favourable balance of trade of $102.04 million. (Tables 4 and 5)
United States of America (USA), including Alaska and Hawaii, was the third biggest source of imports for April 2016 with 8.5 percent share to the total import bill amounting to $556.93 million, an increase of 25.9 percent from $442.29 million in April 2015. Exports to USA amounted to $704.64 million, yielding a two-way trade value of $1.262 billion and a trade surplus of $147.71 million.
Thailand ranked fourth, accounting for 7.4 percent share of the total import bill in April 2016, a positive growth of 63.8 percent to $485.47 million in April 2016 from $296.41 million in April 2015. Exports to this country amounted to $158.06 million resulting to a total trade value of $643.54 million and a trade deficit of $327.41 million.
Singapore placed fifth, accounting for 6.6 percent share of the total import bill worth $430.04 million in April 2016, it went down by 1.2 percent from $435.16 million in April 2015. Exports to Singapore amounted to $349.47 million resulting to a total trade value of $779.51 million and a trade deficit of $80.58 million. (Tables 4 and 5).
Other major sources of imports for the month of April 2016 included in Top Ten Countries were: Republic of Korea, $408.70 million; Taiwan, $391.47 million; Indonesia, $324.03 million; Malaysia (includes Sabah and Sarawak), $271.39 million; and Hong Kong, $199.28 million.
Moreover, imports from Other Countries valued at $1.404 billion and accounted for 21.5 percent from the total imports for the month of April 2016. Among the other countries, Vietnam recorded the highest import source at $149.19 million or 2.3 percent from the total.
IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 47.0 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 April 2016 as it accounted for 47.0 percent of the total imports valued at $3.069 billion. It increased by 62.3 percent from $1.891 billion in April 2015. Total exports to countries of East Asia amounted to $2.031 billion resulting to a total trade of $5.101 billion and a trade deficit of $1.038 billion. (Table 4a and 5a)
Commodities imported from ASEAN member countries were valued at $1.669 billion, contributing 25.5 percent share to total and registered an increase of 17.3 percent from $1.421 billion recorded in April 2015. Proceeds from exports to ASEAN member countries were worth $719.28 million, resulting to a total trade of $2.386 billion and a trade deficit of $947.60 million. (Table 4a and 5a)
Imports from European Union were valued at $575.79 million. It dropped by 7.0 percent compared to a year ago value of $619.15 million. Exports to member countries of European Union were worth $535.22 million, resulting to a total trade of $1.111 billion and a trade deficit of $40.57 million. (Table 4a and 5a)
Technical Notes
Import trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of import documents submitted to the Bureau of Customs (BOC) by importers or their authorized representatives as required by law. PSA collects a copy of the accomplished forms by the importer. These are the following import documents collected and processed by PSA:
1. Import Entry & Internal Revenue Declaration (BOC IEIRD Form 236)
2. Informal Import Declaration and Entry (BOC Form 177)
3. PEZA Warehousing Entry (BOC Form 242 CEWE)
Moreover, an electronic copy of the IEIRD, or called Single Administrative Document (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) or now called the e2m (electronic to mobile) customs system; a system implemented through the BOC e-Customs Project. The output of this system is provided by BOC to PSA on a monthly basis through email.
All documents (hard copies and e-files) received before the cut-off date which is every 10th day of the month are compiled, processed and generated in a 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 statistical tables. 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 is due every 25th day of each month. However, if the 25th 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 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 level for statistical purposes.
Data request of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).