TOTAL TRADE IN 7-MONTH PERIOD REACHES $34.3 BILLION

Total trade in goods for January to July this year decreased by $13.0 million or 0.04 percent to $34.251 billion from $34.264 billion last year. Revenue from exports increased by 19.2 percent to $16.407 billion from $13.767 billion while expenditure for imports dropped by 12.9 percent to $17.844 billion from $20.497 billion. The balance of trade in goods (BOT-G) was in deficit declining by 78.6 percent to $1.438 billion from $6.729 billion.

The two-way trade for July 1998 reached $4.967 billion, which was 5.1 percent short of $5.236 billion in 1997. Aggregate earnings from exports amounted to $2.501 billion, which was up by 21.0 percent from $2.067 billion while total payment for imports reached $2.465 billion, which was 22.2 percent lower than $3.169 billion last year. The BOT-G for the second consecutive month was in surplus, -for July, $36.0 million. However, 1998 monthly imports have so far been declining year-on-year since the zero growth in January.

ELECTRONICS & COMPONENTS 18.9 PERCENT OF TOTAL

The aggregate bill for Electronics and Components, which accounted for 18.9 percent, fell by 13.3 percent to $466.64 million from $537.94 million last year.

Comprising the second biggest import of the month was Industrial Machinery and Equipment. Payments, accounting for 8.1 percent of the total, declined by 22.0 percent to $200.23 million from $256.79 million last year.

Accounting for 7.9 percent of the aggregate bill, payments for Telecommunication Equipment and Electrical Machinery dropped by 50.4 percent to $195.06 million from $393.12 million a year ago.

With a 7.0 percent share, imports of Mineral Fuels, Lubricants and Related Materials amounted to $173.60 million, dropping by 37.2 percent from $276.56 million last year.

Materials/Accessories Imported on Consignment Basis for the Manufacture of Other Electrical and Electronic Machinery Equipment were the fifth top import. Accounting for 6.8 percent of the total bill, payments reached $167.13 million, increasing by 18.1 percent from $141.47 million in 1997.

Office and EDP Machines, accounting for 4.9 percent of the total, emerged as the sixth top import with a value of $120.90 million which was 16.8 percent lower than $145.26 million last year.

Rounding up the list of the top imports for July 1998 were Cereals and Cereal Preparations, $107.58 million; Textile Yarn, Fabrics, Made-up Articles and Related Products, $99.58 million; Transport Equipment, $89.08 million; and Iron and Steel, $71.12 million.

Aggregate payment for the top ten imports for the month amounted to $1.691 billion, or 68.6 percent of the total.

CAPITAL GOODS ACCOUNT FOR 40.4 PERCENT

Capital Goods, despite a 22.7 percent drop year-on-year, accounted for the biggest slice of the import bill for the month at 40.4 percent. Payments amounted to $995.55 million from $ 1.288 billion a year ago.

Raw Materials and Intermediate Goods accounted for 38.7 percent of the total imports even as purchases dropped by 22.8 percent to $954.30 million from $1.235 billion last year.

Purchases of Consumer Goods valued at $232.82 million declined by 13.3 percent from $268.63 million in 1997.

Expenditures of Mineral Fuel and Lubricant decreased by 37.2 percent to $173.60 million while payments for Special Transactions grew by 8.9 percent to $109.14 million.

US SHARE OF JULY IMPORTS BILL PEGGED AT 20.6 PERCENT

Purchases of US-made goods accounted for 20.6 percent of the total imports for the month. Dipping by 18.8 percent, payments combined for $507.44 million, which was down from $624.82 million a year ago. Exports amounted to $931.0 million yielding a two-way trade figure of $1.438 billion and a BOT-G surplus of $423.56 million.

The second biggest source of imports with a 19.9 percent share was Japan. Reported purchases amounted to $490.46 million against sales of Philippine goods valued at $358.16 million. Total trade reached $848.62 million and a BOT-G deficit stood at $132.30 million.

The third largest supplier of imported goods for July was Republic of Korea. Expenditures for imports amounted to $176.51 million while revenue from exports reached $37.58 million resulting in a two-way trade value of $214.09 million and a $138.93 million BOT-G deficit.

Other major sources of imports for July 1998 were: Singapore, $152.87 million; Taiwan, $125.51 million; People�s Republic of China, $114.30 million; Hongkong, $108.53 million; Malaysia, $75.94 million; Australia $72.29 million; and Germany, $71.93 million.

Payments for imports from the top ten sources amounted to $1.896 billion or 76.9 percent of the total.

UNCOLLECTED DOCUMENTS

As of presstime 103 out of 48,308 export documents and 94 out of 54,715 import documents are still expected from the ports.