HALF-YEAR TOTAL TRADE STANDS AT $29.283 BILLION

Two-way trade transactions for the first half of 1998 inched up by 0.9 percent to $29.283 billion from $29.028 billion last year. Merchandise exports valued at $13.905 billion posted an 18.8 percent increase from $11.700 billion in 1997. Import payments declined to $15.378 billion, which was 11.3 percent lower than $17.328 billion a year ago. The cumulated balance of trade in goods (BOT-G), while still a deficit, dropped by 73.8 percent to $1.473 billion from $5.628 billion in 1997.

For June 1998, total merchandise trade valued at $4.650 billion declined by 9.9 percent from $5.161 billion last year. Receipts from exports gained 12.3 percent to $2.390 billion from $2.129 billion while payments for imports reached $2.260 billion, which was 25.5 percent below $3.032 billion in 1997. As a result the BOT-G turned into a surplus valued at $130.0 million.

ELECTRONICS AND COMPONENTS TOP JUNE IMPORTS

Payments for Electronics and Components, still the top import with an 18.7 percent share, dropped by 23.3 percent to $421.70 million from $549.94 million last year.

Telecommunication Equipment and Electrical Machinery accounted for 9.4 percent of the aggregate bill as purchases dropped by 18.7 percent to $213.04 million from $261.95 million a year ago.

Mineral Fuels, Lubricants and Related Materials, with a 7.5 percent share and valued at $169.78 million, fell by 48.7 percent from $330.74 million last year.

The fourth top import was Industrial Machinery and Equipment. Payments accounting for 6.5 percent of the total dropped by 37.8 percent to $146.95 million from $236.35 million.

Materials/Accessories Imported on Consignment Basis for the Manufacture of Other Electrical and Electronic Machinery and Equipment comprised the fifth top import. Accounting for 6.4 percent of the total bill, payments reached $144.76 million, which was down by 11.7 percent from $163.96 million in 1997.

Cereals and Cereal Preparations, accounting for 6.4 percent of the total, emerged as the sixth top import with a value of $143.89 million, which was 67.6 percent higher than $85.87 million last year.

Rounding-up the list of the top imports for June 1998 were: Office and EDP Machines, $115.83 million; Textile Yarn, Fabrics, Made-up Articles and Related Products, $105.44 million; Iron and Steel, $72.27 million; and Transport Equipment, $52.44 million.

Aggregate payments for the top ten imports for the month amounted to $1.586 billion, or 70.2 percent of the total.

RAW MATERIALS AND INTERMEDIATE GOODS SHARE AT 41.0 PERCENT DESPITE 26.3 PERCENT DROP

Accounting for 41.0 percent of the total import bill, Raw Materials and Intermediate Goods emerged as the top purchase for the month with aggregate payments reaching $927.08 million, which was 26.3 percent lower than $1,257.79 million a year ago.

Capital Goods accounted for the second biggest share of the import bill for the month valued at 38.5 percent. Actual payments amounted to $869.48 million, which was down by 18.7 percent from $1,069.32 million last year.

Purchases of Consumer Goods valued at $223.46 million declined by 22.4 percent from $287.89 million in 1997.

Expenditures for Mineral Fuel and Lubricant fell by 48.7 percent to $169.78 million while payments for Special Transactions also dropped by 18.9 percent to $70.24 million.

US ACCOUNTS FOR 23.5 PERCENT OF TOTAL

With a 23.5 percent share of the total import bill, purchases of US-made goods led imports for the month despite a 12.3 percent slowdown. Payments amounted to $531.67 million, which was down from $606.16 million last year. Exports to the US, on the other hand, amounted to $881.18 million yielding a two-way trade figure of $1,412.85 million and a BOT-G surplus of $349.51 million.

Japan, the second biggest source of imports with an 18.5 percent share, reported sales valued at $417.71 million against purchases amounting to $345.91 million. Total trade reached $763.62 million with a BOT-G deficit of $71.80 million.

The third biggest source of imports for the month was the Republic of Korea. Expenditures for imports amounted to $155.38 million while revenues from exports reached $54.89 million resulting in a two-way trade value of $210.27 million and a $100.49 million BOT-G deficit.

Other major sources of imports for June 1998 were: China, $142.16 million; Singapore, $125.13 million; Taiwan, $117.88 million; Hongkong, $103.87 million; Malaysia, $63.64 million; Australia, $51.83 million; and Saudi Arabia,$51.33 million.

Payments for imports from the top ten sources amounted to $1,760.60 million or 77.9 percent of the total.

UNCOLLECTED DOCUMENTS

As of presstime 96 out of 61,777 export documents and 81 out of 98,794 import documents are still expected from the ports.