EXTERNAL TRADE PERFORMANCE
SEPTEMBER 2013 TOTAL TRADE STAND AT $10.756 BILLION
Total external trade in goods for September 2013 reached $10.756 billion, representing a 6.1 percent increase from $10.137 billion recorded during the same month in 2012. The growth was due to the 7.2 percent and 4.9 percent increase on total imports and exports, respectively. Thus, the balance of trade in goods (BOT-G) for the country in September 2013 registered a deficit of $665 million from $516 million deficit in the same period last year.
SEPTEMBER 2013 TOTAL TRADE STAND AT $10.756 BILLION
Total external trade in goods for September 2013 reached $10.756 billion, representing a 6.1 percent increase from $10.137 billion recorded during the same month in 2012. The growth was due to the 7.2 percent and 4.9 percent increase on total imports and exports, respectively. Thus, the balance of trade in goods (BOT-G) for the country in September 2013 registered a deficit of $666 million from $516 million deficit in the same period last year.
IMPORTS UP BY 7.2 PERC
The country’s total imported goods for this month rose by 7.2 percent to $5.711 billion in September 2013 from $5.327 billion for the same period last year. Similarly, on a monthly basis, it increased by 3.0 percent compared to previous month’s level of $5.546 billion. The positive growth was brought by five major commodity groups with positive year-on-year change and these were: transport equipment; electronic products; other food & live animals; iron and steel; industrial machinery and equipment.
Aggregate imports for the first nine months of 2013 amounted to $46.359 billion and showed a 0.03 percent increase compared with $46.344 billion in the same nine months of last year.
ELECTRONIC PRODUCTS ACCOUNT FOR 30.9 PERCENT OF IMPORT BILL
Imports on Electronic Products were the top imported commodity in September 2013, accounting for 30.9 percent and value amounting to $1.764 billion of the aggregate import bill. It increased by 29.8 percent over last year's figure of $1.359 billion. On a monthly basis, it also went up by 31.5 percent from $1.341 billion recorded in August 2013. Among the major groups of electronic products, Components/Devices (Semiconductors), having the biggest share of 26.1 percent, increased by 50.2 percent to $1.491 billion in September 2013 compared from $992.366 million in September 2012.
Imports of Mineral Fuels, Lubricants and Related Materials ranked second with 17.0 percent share and reported value of $968.08 million in September 2013. It went down by 24.6 percent from $1.284 billion in September 2012.
Transport Equipment placed third with 12.1 percent share to total imports valued at $691.96 million. This figure was 135.6 percent higher than the previous year’s level of $293.67 million. Similarly, compared to previous month, import grew by 51.8 percent from $455.99 million in August 2013.
Industrial Machinery and Equipment, contributing 4.6 percent to the total import bill was the country’s fourth top import for the month amounting to $264.03 million. It grew by 2.0 percent compared to last year’s value of $258.84 million. However, this product decelerated by 1.0 percent compared with last month.
Fifth in rank and with 2.8 percent share to the total imports, Other Food and Live Animals recorded $159.99 million worth of imports, and registering a year-on-year change of 13.3 percent from its year ago level of $141.24 million.
Rounding up the list of the top ten imports for September 2013 were Cereals and Cereal Preparations valued at $127.96 million; Plastics in Primary and Non-Primary Forms amounting to $127.35 million; Organic and Inorganic Chemicals, $126.32 million; Iron and Steel, $124.63 million; and Telecommunication Equipment and Electrical Machinery, $104.26 million.
Aggregate payment for the country’s top ten imports for September 2013 reached $4.459 billion or 78.1 percent of the total import bill.
RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 42.0 PERCENT OF THE TOTAL IMPORTS
Payments in September 2013 for Raw Materials and Intermediate Goods accounted for 42.0 percent of the total imports and valued at $2.401 billion. It increased by 21.9 percent over last year's figure of $1.969 billion. On a month-on-month basis, purchases also went up by 19.0 percent from $2.018 billion. Semi-Processed Raw Materials had the biggest share of 37.5 percent and valued at $2.143 billion.
Total imports of Capital Goods, comprising 28.7 percent of the total imports, went up by 20.8 percent to $1.637 billion in September 2013 from $1.355 billion in September 2012.
Mineral Fuels, Lubricants and Related Materials with 17.0 percent share to total imports decreased by 24.6 percent from $1.284 billion in September 2012 to $968.09 million in September 2013.
Purchases of Consumer Goods registered a 2.0 percent increase to $663.22 million in September 2013 from $650.24 million in September 2012. Special Transactions went down by 38.7 percent from $67.90 million to $41.62 million in September 2013.
IMPORTS FROM UNITED STATES OF AMERICA ACCOUNT FOR 11.8 PERCENT
United States of America (USA) including Alaska and Hawaii was the country’s biggest source of imports for September 2013 with 11.8 percent share of the total import bill, higher by 17.0 percent to $675.10 million from $576.82 million in September 2012. Exports to USA amounted to $755.12 million, yielding a two-way trade value of $1.430 billion and a trade surplus for the country of $80.02 million.
People’s Republic of China was the second biggest source of imports with 11.5 percent share. Payments were recorded at $657.57 million, an increase of 0.8 percent from $652.13 million in September 2012. Revenue from country’s exports to China, on the other hand, reached $653.88 million, generating a total trade value of $1.311 billion and $3.69 million trade deficit.
Taiwan came third, accounting for about 8.0 percent share of the total import bill in September 2013 with a negative growth of 12.2 percent from $521.06 million to $457.65 million. Exports to Taiwan amounted to $210.66 million resulting to a total trade value of $668.32 billion and a trade deficit of $246.99 million.
Japan including Okinawa settled fourth accounting for 8.0 percent share of the total import bill in September 2013 or a decrease of 8.3 percent from $495.84 million to $454.84 million compared to same period. Exports to Japan amounted to $1.130 billion resulting to a total trade value of $1.585 billion and a trade surplus of $675.19 million.
Fifth in rank was Singapore, representing a 7.2 percent of the total import bill in September 2013 amounting to $410.48 million. Meanwhile, export receipts from Singapore in September 2013 reached $345.76 million yielding a total trade value of $756.24 million and a trade deficit of $64.72 million.
Other major sources of imports for the month of September 2013 were: Thailand, $349.62 million; Korea, Republic of, $334.92 million; France, $323.45 million; Germany, $314.25 million; and Saudi Arabia, $298.91 million.
Payments for imports from the top ten sources for September 2013 amounted to $4.277 billion or 74.9 percent of the total.
IMPORTS FROM EAST
Philippines’ total imports in September 2013 from East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 35.3 percent of the county’s total imports with total payments of $2.015 billion, lower by 5.9 percent from $2.141 billion in September 2012. Total exports to member-countries of East Asia were valued at $2.736 billion resulting to a total trade of $4.751 billion and a balance of trade in goods (BOT-G) surplus of $721.48 million.
September 2013 imports from ASEAN member-countries registered at $1.275 billion, contributed 22.3 percent share, higher by 5.1 percent from $1.213 billion registered in September 2012. Exports to ASEAN member-countries were worth $712.33 million, resulting to a total trade of $1.988 billion and a trade deficit of $563.05 million.
Imports from European Union were valued at $847.43 million. It expanded by 136.7 percent compared to a year ago recorded value of $358.00 million while exports to member-countries of European Union were worth $513.40 million. This aggregated to total trade of $1.361 billion and a trade deficit of $334.03 million.
Notes: 1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darussalam, 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,
Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia,
Spain, Sweden and UK Great Britain
4/ - includes Alaska and Hawaii
1. Adjustments on electronic import statistics are based on the transactions that pass through the Electronic to Mobile (e2m) of the Bureau of Customs (BOC).
2. Starting with the 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.