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Release Date :
Reference Number :
1998-014

 

TOTAL TRADE IN GOODS FOR JANUARY REACH $4.947 BILLION

Merchandise trade for the first month of 1998 reached $4.947 billion, which was a 9.2 percent increase from the year-ago level of $4.530 billion.  Export receipts went up by 25.0 percent to $2.115 billion from $1.692 billion a year earlier while import payments dipped by 0.2 percent to $2.832 billion from $2.838 billion.  The balance of trade in goods (BOT-G) was $717 million, which dropped by 37.4 percent from $1.146 billion in January last year.

PAYMENTS FOR ELECTRONICS AND COMPONENTS UP BY 37.5 PERCENT

Accounting for almost 20.0 percent of the aggregate January 1998 value of imports, payments for Electronics and components posted a 37.5 percent increase to $566.28 million, up from $411.71 million a year ago.  Compared to December 1997,  the bill was higher by 2.1 percent from $554.43 million.

Telecommunication Equipment and Electrical Machinery was ranked number two with payments amounting to $281.10 million, which decreased by 18.0 percent from $342.62 million a year ago.

Industrial Machinery and Equipment  was number three with imports reaching $257.44 million, declining by 7.9 percent from $279.44 million in January 1997.

Mineral Fuels, Lubricants and Related Materials,  which was valued at $208.02 million, was 34.3 percent lower than $316.63 million a year ago and comprised the fourth biggest group with a 7.3 percent share of total imports.

Transport Equipment  was in the fifth slot and posted a 5.7 percent increase amounting to $186.25 million from $176.24 million in January 1997.

 Materials/Accessories Imported on Consignment Basis for the Manufacturing of Other Electrical and Electronic Machinery and Equipment, which was the sixth ranked commodity group, was valued at $176.42 million and accounted for 6.2 percent of the total.  It increased by 8.9 percent from $161.98 million a year ago.

 Other top imports from January 1998 were: Office and EDP Machines, $159.39 million; Textile Yarn, Fabrics, Made Up Articles and Related Products, $94.52 million;  Cereals and Cereal Preparations, $70.36 million; and Iron and Steel, $69.50 million.

 Payments for the top ten imports in January 1998 amounted to $2,069.28 million or 73.1 percent of the total.

CAPITAL GOODS SHARE 45.4 PERCENT OF TOTAL IMPORTS BILL

 Payments for Capital Goods grew by 23.4 percent to $1,286.89 million from $1,042.95 million a year earlier.  Imports of this commodity group accounted for 45.4 percent of total value.

 Expenditures for  Raw Materials and Intermediate Goods amounted to $1,026.98 million, but this was down by 12.3 percent from $1,170.97 million in 1997.

 Aggregate bills for  Mineral Fuel and Lubricant, Consumer Goods and Special Transactions  amounted to $517.19 million or 18.3 percent of total imports.

US TOP SUPPLIER OF IMPORTED GOODS

 The United States was the top supplier of imported goods in January 1998 valued at $565.49 million, which was 20 percent of the total imports. Exports to US markets yielded  $721.58 million in receipts, resulting to a $156.09 million BOT-G surplus.

 Japan was the second largest source of imported commodities which accounted for 18.5 percent of total.  Payments reached $525.79 million, which was a 7.8 percent decrease over $570.05 million a year earlier.  Receipts from exports to Japan stood at $367.08 million, resulting in a $158.71 million BOT-G deficit.

 Republic of Korea followed as the third source of imports which amounted to $176.10 million. Revenue from exports reached $23.09 million, resulting in a $153.01 million BOT-G deficit.

 Other major sources of imported commodities were: Singapore, $159.15 million; France, $132.42 million; Taiwan, $132.41 million; Hong Kong, $124.80 million; Germany, $106.74 million; Malaysia, $92.24 million; andPeople's Republic of China, $84.82 million.

 Payments for imported products from the top ten import partners amounted to $2,099.7 million or 74.1 percent of the total.

UNCOLLECTED DOCUMENTS

 As of press time 79 out of 38,436 export documents and 51 out of 49,533 import documents are still expected from ports. 

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