TOTAL TRADE IN 2-MONTH PERIOD UP BY 8.9 PERCENT

Total trade in goods for the first two months of 1998 amounted to $9.765 billion, an increase of 8.9 percent over $8.969 billion recorded during the same period in 1997. Payments for imported goods went down by 0.8 percent to $5.423 billion from $5.464 billion while receipts from exports increased by 23.9 percent to $4.342 billion from $3.505 billion. The balance of trade in goods (BOT-G) deficit narrowed down by 44.9 percent to $1.080 billion from $1.960 billion last year.

Total trade for February alone stood at $4.812 billion, up by 8.4 percent from $4.439 billion a year ago. Revenue from exports improved by 22.9 percent to $2.227 billion from $1.812 billion while payments for imports decreased by 1.6 percent to $2.585 billion from $2.627 billion last year. The BOT-G deficit for the month was recorded at $357 million, representing a 56.1 percent decrease from $814 million last year.

ELECTRONICS AND COMPONENTS ACCOUNT FOR 25.3 PERCENT OF TOTAL IMPORTS BILL

Posting a 39.4 percent year-on-year growth, Electronics and Components accounted for 25.3 percent of the aggregate bill for the month as payments rose to $654.50 million from $469.55 million last year.

Payments for Materials/Accessories Imported on Consignment Basis for the Manufacture of Other Electrical and Electronic Machinery and Equipment, accounting for 8.7 percent of the total, increased by 31.3 percent to $225.32 million from $171.56 million in 1997.

Telecommunication Equipment and Electrical Machinery was number three with purchases reaching $223.49 million, a decrease of 5.7 percent from $236.97 million a year ago.

Mineral Fuels, Lubricants and Related Materials with a 7.0 percent share, recorded purchases valued at $180.11 million or a 25.3 percent drop over $240.99 million last year.

Industrial Machinery and Equipment accounted for 6.9 percent of the total bill as payments reached $177.50 million, down by 18.0 percent from $216.58 million last year.

Office and EDP Machines accounting for 5.1 percent of the total, emerged as the sixth top import with a combined value of $132.53 million or 41.5 percent higher than the $93.69 million a year ago.

Rounding up the list of the top imports for February 1998 were: Transport Equipment, $127.61 million; Textile Yarn, Fabrics, Made-up Articles and Related Products, $73.88 million; Cereals and Cereal Preparations,$70.17 million; and Iron and Steel, $54.85 million.

Aggregate payment for the top ten imports for the month amounted to $1,919.96 million or 74.3 percent of the total bill.

RAW MATERIALS AND INTERMEDIATE GOODS REPRESENT 41.6 PERCENT SHARE OF THE TOTAL IMPORTS

Payments for Raw Materials and Intermediate Goods consisting of unprocessed raw materials and semi-processed raw materials decreased by 7.8 percent to $1.076 billion from $1.166 billion last year. This major commodity group accounted for 41.6 percent of the total import bill.

Capital Goods led by Telecommunication Equipment and Electrical Machinery ranked second in terms of share to the aggregate bill with 40.4 percent. Valued at $1.045 billion, payment for shipments rose by 12.1 percent from $932.8 million last year.

Purchases of Mineral Fuel and Lubricant amounting to $180.1 million registered a 25.3 percent decrease from $241.0 million.

Expenditures for the two other commodity groups, Consumer Goods and Special Transactions, combined for $283.6 million or 11.0 percent of the total.

US TOP SOURCE OF FEBRUARY IMPORTS

The United States, with a 25.5 percent share, maintained its number one position as payments went up by 24.3 percent to $658.84 million from $530.0 million a year ago. Exports to the US, on the other hand amounted to $732.0 million yielding a total trade figure of $1,390.84 million and a BOT-G surplus of $73.16 million.

Japan, accounting for 21.7 percent of the total expenditures, remained the second biggest source of imported merchandise. Payments reached $559.76 million, down by 9.2 percent from $616.14 million a year ago. Exports to Japan amounted to $368.61 million resulting in a BOT-G deficit of $191.15 million.

Singapore was the third biggest source of imports amounting to $167.47 million. Revenue from exports, on the other hand, reached $149.43 million resulting to a total trade value of $316.90 million and a BOT-G deficit of $18.04 million.

Other major sources of imports for the month were: Republic of Korea, $154.66 million; Taiwan, $97.87 million; Hongkong, $88.98 million; France, $82.34 million; Germany, $80.95 million; Malaysia, $74.27 million; andChina, $63.36 million.

Payment for imports from the top ten sources for the month amounted to $2,028.5 million or 78.5 percent of the total.

UNCOLLECTED DOCUMENTS

As of presstime 68 out of 42,603 export documents and 41 out of 43,733 import documents are still expected from the ports.