TOTAL JANUARY-JUNE TRADE $30.910 BILLION

Total merchandise trade between the Philippines and the rest of the world for the first half of 1999 grew by 5.5 percent to $30.910 billion from $29.285 billion last year. Merchandise exports valued at $15.803 billion increased by 13.6 percent from $13.906 billion in 1998. Aggregate value of imports amounted to $15.107 billion, which was 1.8 percent lower than $15.379 billion a year ago. The balance of trade in goods (BOT-G) amounted to $696.0 million in favor of the Philippines.

For June 1999, receipts from exports rose by 19.5 percent to $2.857 billion from $2.390 billion while payments for imports reached $2.671 billion, which was 18.1 percent higher than $2.261 billion in 1998. This is the highest growth of imports so far since October 1997. Total merchandise trade valued at $5.528 billion increased by 18.9 percent from $4.651 billion last year. The June BOT-G was in surplus of $187.0 million compared to $129.0 million last year.

 
ELECTRONICS AND COMPONENTS TOP IMPORTS

Imports of Electronics and Components accounted for about one-fourth of the total imports. Valued at $666.90 million, it still was the top for the month. Payments went up by 58.0 percent from $422.20 million last year and by 21.5 percent from $548.91 million last month.

The second top import consisted of Telecommunication Equipment and Electrical Machinery with a combined value of $188.93 million. However, this was an 11.3 percent decline from $213.06 million last year and a 20.7 percent increase from $156.51 million last month.

Payment for Mineral Fuels, Lubricants and Related Materials accounted for 6.3 percent of the total bill, but dropped by 0.4 percent to $169.05 million from $169.81 million in 1998.

The fourth top import consisted of Industrial Machinery and Equipment. Import payment accounted for 5.6 percent as it inched up by 2.6 percent to $150.34 million from $146.47 million a year earlier.

Office and EDP Machines followed with payments valued at $150.14 million which was 29.4 percent higher than $115.99 million in 1998.

Materials/Accessories Imported on Consignment Basis for the Manufacture of Other Electrical and Electronic Machinery and Equipmentcomprised the sixth top import. Accounting for 5.3 percent of the total, payments reached $140.51 million, which was lower by 3.7 percent from $145.90 million in 1998.

Textile Yarn, Fabrics, Made-up Articles and Related Products was the seventh top import group with a value of $118.18 million, increasing by 10.5 percent over $106.94 million last year and accounting for 4.4 percent of the total.

Rounding up the list of the top imports for June 1999 were Iron and Steel,$84.67 million; Cereals and Cereal Preparations, $76.18 million; andTransport Equipment, $75.61 million.

Aggregate payment for the top ten imports for the month amounted to $1.821 billion, or 68.2 percent of the total.

 
RAW MATERIALS & INTERMEDIATE GOODS INCREASE BY 26.0 PERCENT

Raw Materials and Intermediate Goods remained as the top import group for the month with aggregate payments reaching $1.171 billion, growing by 26.0 percent over $929.47 million a year ago. The group accounted for 43.9 percent of the total import bill and was pulled up by imports of semi-processed raw materials.

Capital Goods accounted for the second biggest slice of the import bill for the month. Actual payments increased by 11.2 percent to $966.50 million from $869.13 million last year and shared 36.2 percent of total.

Purchases of Consumer Goods valued at $245.40 million grew by 10.4 percent from $222.30 million in 1998.

Expenditures for Mineral Fuel and Lubricant fell by 0.4 percent to $169.05 million while payments for Special Transactions went up by 69.1 percent to $118.43 million.

 
US GOODS ACCOUNT FOR 21.2 PERCENT OF TOTAL

With a 21.22 percent share of the total import bill, US merchandise led imports for the month. Payments went up by 6.6 percent to $566.79 million from $531.79 million last year. Exports to the US, on the other hand, amounted to $934.56 million yielding a two-way trade figure of $1.501 billion and a BOT-G surplus of $367.77 million.

Japan, close behind with a 21.21 percent share, reported sales valued at $566.36 million against purchases amounting to $384.44 million. Total trade reached $950.80 billion and a BOT-G deficit stood at $181.92 million.

The third biggest source of imports was the Republic of Korea.Expenditures for imports amounted to $247.45 million while revenue for exports reached $101.29 million resulting in a two-way trade value of $348.74 million and a $146.16 million BOT-G deficit.

Other major sources of imports for June 1999 were Singapore, $149.91 million; Taiwan, $138.56 million; Hongkong, $110.72 million; Thailand,$101.66 million; Malaysia, $98.62 million; Indonesia, $82.62 million; andChina, $63.97 million.

Payments for imports from the top ten sources amounted to $2.127 billion or 79.6 percent of the total.

 
UNCOLLECTED DOCUMENTS

As of press time 101 out of 52,684 export documents and 82 out of61,520 import documents are still expected from the ports.

Source: National Statistics Office
              Manila, Philippines
 
Page Last Updated: May 8, 2001