p - preliminary
r - revised

JANUARY TO DECEMBER 2009 TOTAL TRADE STOOD AT $81.338 BILLION

Total external trade in goods for January to December 2009 reached   $81.338 billion, a 23.1 percent decline from $105.824 billion registered during the same month in 2008. Total imports posted a 24.2 percent annual decrease from $56.746 billion to $43.004 billion. Similarly, total exports fell  by 21.9 percent from $49.078 billion in January to December of 2008 to $38.335 billion.  Thus, the balance of trade in goods (BOT-G) for the Philippines posted a deficit of $4.669 billion during the 12-month period in 2009, a value less than the $7.669 billion deficit in the same 12-month period last year.  

Figure 1A  Philippine Trade Performance in January - December : 2009 and 2008
(F.O.B. Value in Million US Dollars)  
 

Figure 1B  Philippine Trade Performance in December : 2009 and 2008
(F.O.B. Value in Million US Dollars)

DECEMBER 2009 IMPORTS UP BY 17.9 PERCENT

Combined import and export merchandise trade for December 2009 improved by 20.6 percent to $7.204 billion from $5.976 billion in December 2008.   This was due to the double-digit increase in total merchandise imports by 17.9 percent to $3.892 billion from $3.301 billion in December 2008.  Total exports likewise rose by 23.8 percent to $3.312 billion from $2.675 billion. The balance of trade in goods (BOT-G) in December 2009 recorded a deficit of $579 million, higher  than the last years recorded deficit of $626 million.  Similarly, on a month-on-month basis, total imports for December 2009 increased by 7.3 percent from $3.626 billion recorded in November 2009.

ELECTRONIC PRODUCTS ACCOUNTED FOR 31.6 PERCENT OF IMPORT BILL

Accounting for 31.6 percent of the aggregate import bill and the country’s major commodity imported in December 2009, payments for Electronic Products including consigned and direct importation using the expanded coverage of electronic products amounted to $1.231 billion in December 2009. It went up by 8.5 percent over last year's figure of $1.134 billion. This was due to the 2.5 percent decrease in Components/Devices (Semiconductors) which comprised the biggest share of 22.5 percent among the major groups of electronic products. Electronic Products likewise, exhibited a slight positive growth of 0.9 percent compared to its previous month’s level of $1.220 billion.

Imports of Mineral Fuels, Lubricants and Related Materials comprising 19.4 percent of the total imports in December 2009 ranked second. This commodity group grew by 14.6 percent to $755.96 million from $659.55 million in December of last year.

Metalliferous Ores and Metal Scrap, amounting to $223.83 million was the Philippines third top import for the month with 5.7 percent share to total imports. It accelerated by 359.8 percent, the highest positive growth from among the top ten imports for December 2009  from $48.68 million in December 2008.   

Contributing 5.4 percent to the total import bill and the country’s fourth top imports in December 2009 was Transport Equipment with payments placed at $210.12 million.  The amount increased by 18.7 percent from last year’s recorded value of $177.02 million. 

Fifth in rank and with 5.1 percent share, Industrial Machinery and Equipment registered $197.88 million worth of imports, higher by 7.6  percent from its year ago level of $183.86 million.

Cereals and Cereal Preparations representing 2.3 percent of the total imports ranked sixth,  valued at $88.98 million contracted by 21.6 percent from  its year ago level of $113.51 million.

Rounding up the list of the top ten imports for December 2009 were Organic and Inorganic Chemicals accounting for $82.73 million, went up by 14.6 percent; Telecommunication Equipment and Electrical Machinery including telecommunications and sound recording and reproducing apparatus and equipment amounting to $72.35 million expanded by 40.5 percent; Plastics in Primary and Non-Primary Forms valued at $67.60 million jumped by 41.8 percent; and on the other hand, Iron and Steel worth $61.05 million plummeted by 20.6 percent.

Aggregate payment for the country’s top ten imports for December 2009 reached $2.992 billion or 76.9 percent of the total import bill.

Figure 2  Philippine Top Six Imports in December : 2009 and 2008
(F.O.B. Value in Million US Dollars)
  

RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNTED FOR 35.0 PERCENT OF THE TOTAL IMPORTS

Accounting for 35.0 percent of the total imports, payments in December 2009 for Raw Materials and Intermediate Goods amounted to $1.363 billion or a 0.6 percent dropped over last year's figure of $1.372 billion.  Compared to the previous months level, purchases went up by 9.7 percent from $1.242 billion.  Semi-Processed Raw Materials having the biggest share of 26.6 percent and valued at $1.036 billion decreased by 11.0 percent year-on-year from $1.164 billion.

Capital Goods,  contributing 31.8 percent to the total imports, increased by 37.7 percent to $1.236 billion from $897 billion in December 2008.  Similarly, Mineral Fuels, Lubricants and Related Materials with 19.4 percent share, rose by 14.6 percent to $755.96 million from its year ago level of $659.55 million.

Purchases of Consumer Goods amounted to $473.19 million or a positive growth of 38.7 percent from $341.19 million in December 2008, while Special Transactions showed an annual increase of 103.8 percent to $63.30 million from $31.07 million in December 2008.  

Figure 3  Philippine Imports by Major Type of Goods in December : 2009 and 2008
(F.O.B. Value in Million US Dollars)

JAPAN ACCOUNTED FOR 12.0 PERCENT OF IMPORT BILL

Japan including Okinawa, the country’s biggest source of imports for December 2009 with 12.0 percent share, recorded payments worth $465.34 million and expanded by 18.1 percent from $394.00 million in December 2008.  Revenue from the country’s exports to Japan, on the other hand, reached $507.68 million, generating a total trade value of $973.01 million and $42.34 million trade surplus for the Philippines.

United States of America (including Alaska and Hawaii) with 10.6 percent share of the total import bill amounting to $411.26 million followed as the second biggest source of imports for December 2009.  This value is lower by 16.9 percent from $494.68 million recorded in December 2008.  Exports to USA amounted to $633.62 million, yielding a two-way trade value of $1.045 billion and a trade surplus of $222.36 million.

Peoples Republic of China came third, accounting for 9.6 percent share of the total import bill in December 2009, went up by 16.3 percent to $371.56 million from $319.48 million in December 2008.  Exports to Peoples Republic of China amounted to $232.60 million resulting to a total trade value of $604.16 million and a trade deficit of $138.97 million.

Ranking fourth in December 2009 and with 8.2 percent share was Republic of Korea valued at $318.57 million.  This amount increased by 116.0 percent from $147.47 million posted in December 2008. Exports toRepublic of Korea amounted to $136.27 million resulting to a total trade value of $454.84 million and a trade deficit of $182.30 million.

Fifth in rank was Singapore, representing 8.1 percent of the total import bill in December 2009, declined by 2.2 percent from $322.17 million in December 2008 to $314.98 million in December 2009.  Export receipts from Singapore in December 2009 reached $283.19 million yielding a total trade value of $598.17 million and a trade deficit of $31.79 million.

Other major sources of imports for the month of December 2009 were Indonesia, $273.37 million; Taiwan, $242.57 million; Thailand, $231.18 million; Saudi Arabia, $163.17 million; and United Arab Emirates, $155.28 million.

Payments for imports from the top ten sources for December 2009 amounted to $2.947 billion or 75.7 percent of the total import.

Figure 4  Philippine Imports by Country in December : 2009
  

IMPORTS FROM EASTERN ASIA WORTH $1.518 BILLION

Philippines total imports in December 2009 with Eastern Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 39.0 percent of the country’s total imports with total payments of $1.518 billion or a positive annual growth of 24.2 percent  from December 2008 level of $1.222 billion.  Total exports to member-countries of Eastern Asia was valued at $1.198 billion, resulting to a total trade of $2.716 billion and a balance of trade in goods (BOT-G) deficit of $319.93 million.

Imports from ASEAN member-countries in December 2009 ($997.39 million) contributed   25.6 percent share, higher by 35.1 percent from $738.31 million registered in December 2008. Exports to ASEAN member-countries worth $577.23 million resulted to a total trade of $1.575 billion and a trade deficit of $420.15 million.

December 2009 imports from European Union were valued at $272.55 million while exports to member-countries of European Union were worth $698.33 million.  This aggregated to total trade of $970.88 million and a trade surplus of $425.77 million.

Figure 5  Philippine Imports by Selected Economic Bloc in December : 2009 & 2008
(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.

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