r - revised

JANUARY TO NOVEMBER  2009 TOTAL TRADE STOOD AT $74.134 BILLION

Total external trade in goods for January to November 2009 amounted to  $74.134 billion, a 25.8 percent decline from $99.848 billion registered during the same month in 2008. Total imports posted a 26.8 percent annual decrease from $53.445 billion to $39.112 billion. Similarly, total exports fell  by 24.5 percent from $46.403 billion in January to November of 2008 to $35.022 billion.  Thus, the balance of trade in goods (BOT-G) for the Philippines posted a deficit of $4.090 billion during the 11-month period in 2009, a value less than the $7.042 billion deficit in the same 11-month period last year.  

Figure 1A  Philippine Trade Performance in January - November : 2009 and 2008
(F.O.B. Value in Million US Dollars)  
 

Figure 1B  Philippine Trade Performance in November : 2009 and 2008
(F.O.B. Value in Million US Dollars)

NOVEMBER  2009 IMPORTS UP BY 4.1 PERCENT

Combined import and export merchandise trade for November 2009 improved by 4.9 percent to $7.338 billion from $6.998 billion in November 2008.   This was due to the first month increase in total merchandise imports by 4.1 percent after posting continuous ten months decline since January 2009 to $3.626 billion from $3.485 billion in November 2008.  Total exports likewise went up by 5.7 percent to $3.712 billion from $3.513 billion. The balance of trade in goods (BOT-G) in November 2009 recorded a surplus of $85 million, higher  than the last years recorded surplus of $28 million.  On a month-on-month basis, total imports for November 2009 dropped by  4.8 percent from $3.808 billion recorded in October 2009.

ELECTRONIC PRODUCTS ACCOUNTED FOR 33.6 PERCENT OF IMPORT BILL

Accounting for 33.6 percent of the aggregate import bill and the countrys major commodity imported in November 2009, payments for Electronic Products including consigned and direct importation using the expanded coverage of electronic products amounted to $1.219 billion in November 2009. It went down to 5.2 percent over last year's figure of $1.286 billion. This was due to the 10.9 percent decrease inComponents/Devices (Semiconductors) which comprised the biggest share of 23.9 percent among the major groups of electronic products.  Compared to previous months level, electronic products fell by 14.8  percent  from $1.431 billion in October 2009.

Imports of Mineral Fuels, Lubricants and Related Materials comprising 21.1 percent of the total imports in November 2009 ranked second. This commodity  group accelerated by 40.6 percent to $764.25 million from $543.70 million.

Transport Equipment, amounting to $187.59 million was the Philippines third top import for the month with 5.2 percent share to total imports grew by 8.6 percent  from $172.71 million in November 2008.   

Contributing 4.8 percent to the total import bill and the countrys fourth top imports in November 2009 wasIndustrial Machinery and Equipment with payments placed at $173.67 million.  The amount rose by 4.0 percent from last years recorded value of $166.93 million. 

Fifth in rank and with 2.6 percent share, Iron and Steel registered $94.80 million worth of imports, higher by 11.4  percent from its year ago level of $85.09 million.

Metalliferous Ores and Metal Scrap representing 2.6 percent of the total imports ranked sixth,  valued at $93.59 million and showed the highest annual growth increase of 173.1 percent from its year ago level of $34.27 million.

Rounding up the list of the top ten imports for November  2009 were Telecommunication Equipment and Electrical Machinery including telecommunications and sound recording and reproducing apparatus and equipment, accounting for $77.03 million decreased by 0.3 percent; Organic and Inorganic Chemicalsamounting to $71.71 million went down by 13.5 percent; Feeding Stuff For Animals (excluding unmilled cereals) valued at $66.10 million jumped by 61.6 percent; and Plastics in Primary and Non-Primary Forms worth $63.71 million plummeted by 7.6 percent.

Aggregate payment for the countrys top ten imports for November 2009 reached $2.812 billion or 77.5 percent of the total import bill.

Figure 2  Philippine Top Six Imports in November : 2009 and 2008
(F.O.B. Value in Million US Dollars)
 

RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNTED FOR 34.3 PERCENT OF THE TOTAL IMPORTS

Accounting for 34.3 percent of the total imports, payments in November  2009 for Raw Materials and Intermediate Goods amounted to $1.242 billion or a 9.5 percent dropped over last year's figure of $1.373 billion.  Compared to the previous months level, purchases fell by 18.1 percent from $1.516 billion.  Semi-Processed Raw Materials having the biggest share of 29.5 percent and valued at $1.070 billion decreased by 13.1 percent year-on-year from $1.231 billion.

Capital Goods, contributing 32.4 percent to the total imports, swelled by  9.4 percent to $1.175 billion from $1.074 billion in November 2008.  Similarly, Mineral Fuels, Lubricants and Related Materials with 21.1 percent share, accelerated by 40.6 percent to $764.25 million from its year ago level of $543.70 million.

Purchases of Consumer Goods amounted to $382.36 million or a negative growth of 14.9 percent from $449.27 million in November 2008, while Special Transactions showed a growth of 38.8 percent to $62.41 million from $44.96 million in November 2008.  

Figure 3  Philippine Imports by Major Type of Goods in November : 2009 and 2008
(F.O.B. Value in Million US Dollars)

JAPAN ACCOUNTED FOR 12.0 PERCENT OF IMPORT BILL

Japan including Okinawa, the countrys biggest source of imports for November 2009 with 12.0 percent share, recorded payments worth $433.86 million contracting by 10.3 percent from $483.78 million in November 2008.  Revenue from the countrys exports to Japan, on the other hand, reached $620.38 million, generating a total trade value of $1.054 billion and $186.52 million trade surplus for the Philippines.

United States of America (including Alaska and Hawaii) with 10.6 percent share of the total import bill amounting to $384.11 million followed as the second biggest source of imports for November 2009.  This value is lower by 25.6 percent from $516.37 million recorded in November 2008.  Exports to USA amounted to $654.19 million, yielding a two-way trade value of $1.038 billion and a trade surplus of $270.08 million.

Singapore came third, accounting for 8.8 percent share of the total import bill in November 2009 up by 6.0 percent to $319.35 million from $301.19 million in November 2008.  Exports to Singapore amounted to $297.14 million resulting to a total trade value of $616.49 million and a trade deficit of $22.21 million.

Ranked fourth in November 2009 and with 8.3 percent share was Peoples Republic of China valued at $299.60 million.  This amount increased by 3.6 percent from $289.27 million posted in November 2008. Exports to Peoples Republic of China amounted to $234.28 million resulting to a total trade value of $533.88 million and a trade deficit of $65.32 million.

Fifth in rank was Republic of Korea, representing 7.8 percent of the total import bill in November 2009, amounting to $281.25 million rose by 60.6 percent from $175.13 million in November 2008.  Export receipts from Republic of Korea in November 2009 reached $164.94 million yielding a total trade value of $446.19 million and a trade deficit of $116.31 million.

Other major sources of imports for the month of November 2009 were Taiwan, $273.36 million; Thailand, $210.70 million; Saudi Arabia, $177.15 million; United Arab Emirates, $162.55 million; and Hong Kong, $148.81 million.

Payments for imports from the top ten sources for November 2009 amounted to $2.691 billion or 74.2 percent of the total import.

Figure 4  Philippine Imports by Country in November : 2009
  

IMPORTS FROM EASTERN ASIA WORTH $1.437 BILLION

Philippines total imports in November 2009 with Eastern Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 39.6 percent of the county's total imports with total payments of $1.437 billion or a positive annual growth of 10.2 percent  from November 2008 level of $1.304 billion.  Total exports to member-countries of Eastern Asia was valued at $1.386 billion, resulting to a total trade of $2.824 billion and a balance of trade in goods (BOT-G) deficit of $51.15 million.

Imports from ASEAN member-countries in November 2009 contributed   21.7 percent share, a decrease of 15.3 percent from $928.44 million registered in November 2008 to $786.70 million. Exports to ASEANmember-countries worth $634.54 million resulting to a total trade of $1.421 billion and trade deficit of $152.16 million.

November 2009 imports from European Union were valued at $267.48 million while exports to member-countries of European Union were worth $857.87 million.  This aggregated to total trade of $1.125 billion and a trade surplus of $590.38 million.

Figure 5  Philippine Imports by Selected Economic Bloc in November : 2009 & 2008
(F.O.B. Value in Million US Dollars)

Technical Notes:

1. Adjustments on electronic import statistics are based on the transactions that pass through the Automated Cargo Operating System (ACOS) of the Bureau of Customs (BOC).

2. Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings.  This is in compliance with   NSCB   Resolution No. 03, Series of 2005 entitled "Approving and Adopting the 2004 Philippine Standard Commodity Classification" by all concerned government agencies and instrumentalities.

Source:   Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines