YEAR-TO-DATE BOT-G DOWN BY 91.2 PERCENT

Two-way merchandise trade transactions for the first ten months of 1998 fell by 2.5 percent to $49.612 billion from $50.885 billion last year. Merchandise exports valued at $24.387 billion posted a 17.9 percent increase from $20.689 billion in 1997. On the other hand, imports amounted to $25.225 billion, which was 16.5 percent lower than $30.196 billion a year ago. The balance of trade in goods (BOT-G), while still at a deficit, dropped by 91.2 percent to $837.0 million from $9.507 billion last year.

For the month of October 1998 alone, total merchandise trade valued at $4.960 billion suffered a 13.6 percent shortfall from $5.740 billion last year. Receipts from exports moved up by 9.3 percent to $2.542 billion from $2.326 billion while payments for imports reached $2.417 billion, which was 29.2 percent lower than $3.414 billion in 1997. The BOT-G for October was in a surplus level of $125.0 million. This was the fifth consecutive month when a surplus was posted.

ELECTRONICS AND COMPONENTS ACCOUNT FOR 22.0 PERCENT OF IMPORT BILL

Payments for Electronics and Components, still the top import with a 22.0 percent share, dropped by 13.3 percent to $530.87 million from $612.53 million last year.

Telecommunication Equipment and Electrical Machinery acccounted for 9.3 percent of the aggregate bill as purchases dropped by 31.6 percent to $225.91 million from $330.23 million a year ago.

Materials/Accessories Imported on Consignment Basis for the Manufacture of Other Electrical and Electronic Machinery and Equipment comprised the third top import accounting for 9.2 percent of the total bill. Payments reached $221.38 million which was up by 9.0 percent from $203.08 million a year earlier.

Payments for Mineral Fuels, Lubricants and Related Materials accounting for 7.2 percent decreased by 47.5 percent to $173.28 million from $329.89 million in 1997.

Fifth top import for the month consisted of Industrial Machinery and Equipment. Payments accounting for 6.7 percent of the total dropped by 41.2 percent to $161.91 million from $275.61 million last year.

Office and EDP Machines accounting for 5.9 percent of the total was the sixth top import with a value of $142.16 million, which was 3.1 percent lower than $146.74 million last year.

Rounding up the list of the top imports for October 1998 were Textile Yarn, Fabrics, Made-up Articles and Related Products, $88.84 million; Miscellaneous Manufactured Articles, $69.47 million; Transport Equipment, $61.99 million; and Cereals and Cereal Preparations, $55.33 million.

Aggregate payments for the top ten imports for the month amounted to $1.731 billion, or 71.6 percent of the total.

CAPITAL GOODS ACCOUNTS FOR 41.5 PERCENT

Accounting for 41.5 percent of the import bill, Capital Goods emerged at the top with aggregate payments reaching $1.004 billion which was 27.0 percent lower than $1.375 billion a year ago.

Raw Materials and Intermediate Goods accounted for the second biggest slice of the import bill at 37.8 percent. Actual payments amounted to $914.44 million which was down by 30.6 percent from $1.317 billion last year.

Purchases of Consumer Goods valued at $221.00 million declined by 17.0 percent from $266.44 million in 1997.

Expenditures for Mineral Fuels and Lubricants fell by 47.5 percent to $173.28 million while payments for Special Transactions also dropped by 16.6 percent to $105.06 million.

IMPORTS FROM JAPAN 21.9 PERCENT OF TOTAL BILL

With a 21.9 percent share of the total import bill, purchases of Japanese goods led all top imports despite a 25.3 percent slowdown. Payments amounted to $529.59 million, which was down from $708.90 million last year. Exports to Japan on the other hand amounted to $346.74 million yielding a two-way trade figure of $876.33 million and a BOT-G deficit of $182.85 million.

The United States, the second biggest source of imports with a 21.1 percent share, reported sales of $846.83 million against purchases amounting to $509.00 million. Total trade reached $1.356 billion and the BOT-G surplus stood at $337.83 million.

The third biggest source of imports for the month was the Republic of Korea. Expenditures for imports amounted to $176.76 million while revenues for exports reached $37.77 million resulting in a two-way trade value of $214.53 million and a $138.99 million BOT-G deficit.

Other major sources of imports for October 1998 were Singapore, $133.80 million; Hongkong, $108.66 million; China, $103.92 million; Taiwan, $103.49 million; Malaysia, $91.61 million;Thailand, $75.13 million; and Australia, $65.03 million.

Payments for imports from the top ten markets amounted to $1.897 billion or 78.5 percent of the total.

UNCOLLECTED DOCUMENTS

As of presstime 97 out of 48,788 export documents and 72 out of 50,842 import documents are still expected from the ports.