External Trade Performance : November 2010

Reference Number: 

2011-005

Release Date: 

Tuesday, January 25, 2011

 

EXTERNAL TRADE PERFORMANCE
November 2010

(Preliminary)

p - preliminary
r - revised

JANUARY TO NOVEMBER 2010 TOTAL TRADE STOOD AT $97.002 BILLION

Total external trade in goods for January to November 2010 reached $97.002 billion, a 30.6 percent increment from $74.270 billion registered during the same period in 2009. Total imports posted a 27.1 percent annual increase to $49.772 billion from $39.155 billion. Similarly, an increase of 34.5 percent for merchandise exports was noted to $47.230 billion in January to November of 2010 from $35.115 billion during the same period in 2009. Thus, the balance of trade in goods (BOT-G) for the Philippines registered a deficit of $2.541 billion during the 11-month period in 2010, a value lower than the $4.041 billion deficit in the same 11-month period last year.

Figure 1A Philippine Trade Performance in January - November : 2010 and 2009
(F.O.B. Value in Million US Dollars)

Figure 1B Philippine Trade Performance in November : 2010 and 2009
(F.O.B. Value in Million US Dollars)

NOVEMBER 2010 IMPORTS INCREASED BY 28.4 PERCENT

Combined import and export merchandise trade for November 2010 was up by 23.3 percent to $9.090 billion from $7.372 billion in November 2009. Total merchandise imports increased at 35.3 percent to $4.944 billion from $3.655 billion in November 2009. Total exports, on the other hand, rose by 11.5 percent to $4.146 billion from $3.718 billion in November 2009. The balance of trade in goods (BOT-G) in November 2010 posted a deficit of $798.00 million compared to last year�s recorded surplus of $63.00 million. On a month-on-month basis, total imports for November 2010 grew by 1.1 percent from $4.890 billion recorded in October 2010.

ELECTRONIC PRODUCTS ACCOUNTED FOR 32.9 PERCENT OF IMPORT BILL

Accounting for 32.9 percent of the aggregate import bill, payments for Electronic Products (including consigned and direct importation using the expanded coverage of electronic products) in November 2010 amounted to $1.625 billion. It went up by 33.2 percent over last year's figure of $1.220 billion. On a monthly basis, it improved by 5.4 percent from $1.542 billion recorded in October 2010. Among the major groups of electronic products, Components/Devices (Semiconductors) having the biggest share of 26.7 percent, expanded by 52.2 percent to $1.318 billion from $865.94 million in November 2009.

Imports of Mineral Fuels, Lubricants and Related Materials in November 2010 ranked second with 17.5 percent share and posted a positive growth of 13.3 percent to $866.62 million from $764.56 million in November 2009.

Transport Equipment was the PH�s third top imports for the month with 8.1 percent share to total imports at $398.41 million. The value accelerated by 109.9 percent from it�s previous year level of $189.85 million and the highest annual growth rate among the top ten imports.

Industrial Machinery and Equipment, contributing 5.2 percent to the total import bill, was the PH�s fourth top import for the month with payments placed at $257.38 million, an increase of 46.8 percent from last year�s level of $175.32 million.

Fifth in rank and with 2.6 percent share to the total imports, Organic and Inorganic Chemicals expanded by 74.6 percent or $126.46 million, from its year ago level of $72.42 million.

Iron and Steel ranked sixth, comprising 2.3 percent of the total imports, reached $112.93 million, higher by 19.1 percent from $94.79 million recorded in November 2009.

Rounding up the list of the top ten imports for November 2010 were Telecommunication Equipment and Electrical Machinery (including telecommunications and sound recording and reproducing apparatus and equipment) worth $112.04 million, gained by 45.4 percent; Plastics in Primary and Non-Primary Forms amounting to $105.31 million increased by 61.2 percent; Cereals and Cereal Preparations valued at $93.73 million higher by 84.8 percent; and Feeding Stuff for Animals (not including unmilled cereals) with purchases placed at $79.17 million rose by 19.4 percent.

Aggregate payment for the country�s top ten imports for November 2010 reached $3.777 billion or 76.4 percent of the total import bill.

Figure 2 Philippine Top Six Imports in November : 2010 and 2009
(F.O.B. Value in Million US Dollars)

RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNTED FOR 37.1 PERCENT OF THE TOTAL IMPORTS

Accounting for 37.1 percent of the total imports, payments in November 2010 for Raw Materials and Intermediate Goods amounted to $1.836 billion or a 45.5 percent increment over last year's figure of $1.262 billion. Compared to the previous month�s level, purchases rose up by 2.4 percent from $1.792 billion. From among this group, Semi-Processed Raw Materials representing the biggest share of 33.5 percent was valued at $1.658 billion or 53.1 percent annual growth.

Capital Goods, which comprised 31.7 percent of the total imports, grew by 33.0 percent year-on-year to $1.568 billion from $1.179 billion in November 2009.

Mineral Fuels, Lubricants and Related Materials with 17.5 percent share, went up by 13.3 percent to $866.62 million from $764.56 million in November 2009.

Purchases of Consumer Goods amounted to $597.82 million or a 54.5 percent increment from $386.85 million in November 2009. Similarly, Special Transactions with 1.5 percent shares to total imports advanced by 21.8 percent to $75.86 million from $62.30 million in November 2009.

Figure 3 Philippine Imports by Major Type of Goods in November : 2009 and 2010

(F.O.B. Value in Million US Dollars)

IMPORTS FROM JAPAN ACCOUNTED FOR 11.9 PERCENT

Japan including Okinawa, was the country�s biggest source of imports for November 2010 with 11.9 percent share of the total import bill, higher by 34.5 percent to $586.30 million from $435.97 million in November 2009. Exports to Japan amounted to $668.27 million, yielding a two-way trade value of $1.255 billion and a trade surplus for PH of $81.97 million.

United States of America (USA) including Alaska and Hawaii, the second biggest source of imports in November 2010 with 11.4 percent share, recorded payments worth $562.93 million, up by 44.4 percent from $389.73 million recorded in November 2009. Revenue from PH�s exports to USA, on the other hand, reached $488.71 million, generating a total trade value of $1.052 billion and $74.22 million trade deficit for the Philippines.

People�s Republic of China came third, accounting for 9.4 percent share of the total import bill in November 2010 increased by 55.0 percent to $466.59 million from $301.07 million during the same month in 2009. Exports to People�s Republic of China amounted to $654.11 million resulting to a total trade value of $1.121 billion and a trade surplus of $187.53 million.

Singapore settled fourth, accounting for 8.8 percent share of the total import bill in November 2010 or a 34.4 percent increment to $432.88 million from $322.01 million posted in November 2009. Exports to Singapore amounted to $462.85 million resulting to a total trade value of $895.72 million and a trade surplus for the Philippines of $29.97 million.

Fifth in rank is Republic of Korea representing 7.4 percent of the total import bill in November 2010, amounted to $365.25 million. Meanwhile, export receipts from Republic of Korea in November 2010 reached $150.07 million yielding a total trade value of $515.33 million and a trade deficit of $215.18 million.

Other major sources of imports for the month of November 2010 were Taiwan, $341.10 million; United Arab Emirates, $330.58 million; Thailand, $287.31 million; Malaysia (including Sabah and Sarawak), $234.16 million; and Indonesia, $222.39 million.

Payments for imports from the top ten sources for November 2010 amounted to $3.829 billion or 77.5 percent of the total.

Figure 4 Philippine Imports by Country in November : 2010

IMPORTS FROM EASTERN ASIA WORTH $1.891 BILLION

Philippines total imports in November 2010 from Eastern Asia accounted for 38.3 percent of the county�s total imports with total payments worth $1.891 billion or a positive annual growth of 31.2 percent from November 2009 level of $1.442 billion. Total exports to member-countries of Eastern Asia was valued at $2.073 billion, resulting to a total trade of $3.964 billion and a balance of trade in goods (BOT-G) surplus of $182.20 million.

Imports from ASEAN member-countries in November 2010 amounted to $1.227 billion, a 24.8 percent share contribution to total imports. It was higher by 54.2 percent from $796.04 million registered in November 2009. Exports to ASEAN member-countries amounted $815.17 million, resulting to a total trade of $2.042 billion and a trade deficit of $412.15 million.

November 2010 imports from European Union were valued at $387.69 million while exports to member-countries of European Union were worth $493.70 million. It aggregated to a total trade of $881.40 million and a trade surplus of $106.01 million for the Philippines.

Figure 5 Philippine Imports by Selected Economic Bloc in November : 2009 & 2010
(F.O.B. Value in Million US Dollars)

Notes:

1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan

2/ - includes Brunei Darusalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam

3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland

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.

 

 

(Sgd.) CARMELITA N. ERICTA
Administrator

 

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

Attachment: 

Tags: