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p - preliminary
r - revised
Top 10 Philippine Imports from All Countries: September 2005 |
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Gainers |
Losers |
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Mineral Fuels, Lubricants and Related Materials |
86.0 |
Telecommunication Equipment and Electrical Machinery |
-9.7 |
Transport Equipment |
42.7 |
Electronic Products |
-7.3 |
Cereals and Cereal Preparations |
39.6 |
Organic and Inorganic Chemical |
-0.4 |
Industrial Machinery and Equipment |
31.5 |
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Iron and Steel |
13.4 |
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Textile Yarn, Fabrics, Made-Up Articles and Related Products |
3.9 |
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Plastics in Primary and Non-Primary Forms |
0.7 |
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January to September total trade stands at $63.302 billion
Total external trade in goods for January to September 2005 amounted to $63.302 billion, a 2.0 percent growth from $62.073 billion during the same period last year. Expenditures for total foreign-made merchandise inched up by 0.7 percent to $33.344 billion from $33.109 billion.On the other hand, exports registered a year-on-year increment of 3.4 percent to aggregate dollar revenue of $29.958 billion from $28.964 billion a year earlier. Balance of trade in goods (BOT-G) deficit for the Philippines reached $3.387 billion, lower compared to last year’s deficit of $4.145 billion.
Figure 1A. Philippine Trade Performance in January - September :2005 and 2004
(F.O.B. Value in Million US Dollar)
Figure 1B. Philippine Trade Performance in September :2005 - 2004
(F.O.B. Value in Million US Dollar)
September imports register 7.8 percent increase
Total merchandise trade for September 2005 went up by 3.4 percent to $7.713 billion from $7.458 billion during the same period of the previous year. Dollar-inflow generated by exports amounted to $3.599 billion, or 1.2 percent lower than last year’s $3.641 billion. On the contrary, foreign bill on imported goods increased by 7.8 percent to $4.115 billion from $3.817 billion. The BOT-G registered a deficit of $516 million, higher compared to last year’s deficit of $175 million.
Electronic products account for 44.1 percent of import bill
Accounting for 44.1 percent of the total aggregate import bill, payments for electronic products amounted to $1.815 billion or a decline of 7.3 percent over last year’s figure of $1.958 billion. Compared to the previous month’s level, purchases grew by 3.5 percent from $1.753 billion.
Imports of mineral fuels, lubricants and related materials in September ranked second with 18.4 percent share. Expenditures at $757.64 million, registered an 86.0 percent increase over the previous year’s level of $407.31 million as world prices and volume of imported petroleum and diesel oils as well as gasoline went up.
Industrial Machinery and Equipment, contributing 4.6 percent to the total bill, was RP’s third top import for the month with payments at $191.06 million from last year’s $145.25 million. The double-digit increase of 31.5 percent was due to the high value of imports on parts of machinery and mechanical appliances.
Transport Equipment, the fourth top import was worth $158.42 million, or an increment of 42.7 percent from $111.02 million a year earlier. This was brought about by importations made on passenger cars, components, parts and accessories of motor vehicles.
Expenditures for iron and steel, with a 2.5 percent share, was up by 13.4 percent to $104.49 million from $92.13 million in September 2004. The positive growth was mainly attributed to the importation of semi-finished product of iron and flat roled products of steel.
Textile yarn, fabrics, made-up articles and related products, accounting for 2.3 percent of the total imports, showed an increase of 3.9 percent with foreign bill amounting to $95.91 million from $92.34 million last year.
Rounding up the list of the top imports for September 2005 were plastics in primary and non-primary forms, $82.67 million, telecommunication equipment and electrical machinery, $82.33 million. Cereals and cereal preparations, accounting for 1.5 percent of the total imports, recorded an increment of 39.6 percent, as higher values were noted in the importation of rice and wheat and organic and inorganic chemicals, $60.77 million.
Aggregate payment for the country’s top ten imports for September 2005 reached $3.409 billion or 82.9 percent of the total bill.
Figure 2. Philippine Top Imports in September 2005 and 2004
(F.O.B. Value in Million US Dollar)
Capital goods account for 36.2 percent of the total imports
Payments in September for capital goods comprising 36.2 percent of the total imports, went up by 10.5 percent year-on-year to $1.489 billion from $1.348 billion. The biggest share went to telecommunication equipment and electrical machinery with a 20.6 percent share of the total imports and valued at $845.46 million.
Raw materials and intermediate goods accounted for 36.2 percent share as importation dropped by 12.9 percent to $1.488 billion from last year’s figure of $1.708 billion. Semi-processed raw materials got the major share of 33.6 percent and valued at $1.384 billion.
Expenditures for mineral fuels, lubricants and related materials gained by 86.0 percent to $757.64 million from $407.31 million during the same period of 2004.
Purchases of consumer goods, amounted to $278.31 million, an increase of 9.0 percent from $255.22 million in September 2004, while special transactions moved up by 3.5 percent to $101.83 million from $98.37 million.
Figure 3. Philippine Imports by Major Type of Goods in September: 2005 and 2004
United States corners 18.2 percent of september import bill
Imports from US accounting for 18.2 percent of the total import bill, grew by 9.2 percent to $747.10 million from $684.26 million during the same period of 2004. Exports to US, amounted to $653.84 million yielding a two-way trade value of $1.401 billion and a trade deficit for RP placed at $93.26 million.
Japan, the country’s second biggest source of imports for September with a 15.1 percent share, reported shipments billed at $621.07 million against export earnings of $620.43 million. Total trade amounted to $1.242 billion, with a trade deficit registered at $0.64 million.
Singapore followed as the third biggest source of imports. With payments worth $336.09 million, imports climbed by 13.8 percent from $295.42 million, while revenue from RP’s exports reached $283.61 million resulting to a total trade value of $619.69 million and a $52.48 million deficit for Philippines.
Other major sources of imports for the month of September were Taiwan, $331.20 million; Saudi Arabia, $265.28 million; People’s Republic of China, $246.79 million; Iran, $171.74 million; Hong Kong, $169.53 million; Republic of Korea, $163.79 million; and Malaysia, $155.65 million.
Payments for imports from the top ten sources for the month amounted to $3.208 billion or 78.0 percent of the total.
Figure 4. Philippine Imports by Country in September: 2005
Technical Notes
Adjustments on electronics import statistics are based on approved valuation methodology as per NSCB Resolution No. 8 Series of 2005.
(Sgd.) CARMELITA N. ERICTA |
Source: National Statistics Office
Manila, Philippines