FOREIGN TRADE STATISTICS OF THE PHILIPPINES: 2012
TOTAL TRADE STOOD AT $114.228 BILLION
The total external trade in goods in 2012 reached $114.228 billion, accounting for 5.0 percent increase from $108.801 billion in 2011. This was due to the 2.7 percent positive growth of the total imports to $62.129 billion from $60.496 billion in 2011. Meanwhile, total export receipts increased by 7.9 percent to $52.100 billion from $48.305 billion in 2011. The country’s balance of trade in goods (BOT-G) registered a $10.029 billion deficit in 2012 from $12.191 billion deficit in 2011 (Table 1).
TOP 10 EXPORTS ACCOUNTED FOR 63.9 PERCENT OF TOTAL EXPORT RECEIPTS
Accounting for 63.9 percent of the aggregate export revenue in 2012, receipts from the top ten exports totaled to $33.312 billion, slightly decreased by 0.9 percent from $33.627 billion in 2011 (Table 2).
Electronic Products continued to be the top earner for 2012 with 43.9 percent of the total exports but decelerated by 4.0 percent from $23.795 billion to $22.853 billion in 2012.
Woodcrafts and Furniture was a far second with a share of 4.5 percent and a total receipt of $2.348 billion but 27.1 percent higher than the 2011 value of $1.848 billion.
Metal Components ranked third with a share of 3.8 percent, posting highest increase among the top ten exports of 150.0 percent to $1.962 billion from $785.06 million in 2011.
Articles of Apparel and Clothing Accessories with share of 3.0 percent, ranked fourth with export receipts of $1.564 billion. It decreased by 17.5 percent from the 2011 value of $1.896 billion.
Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consist only of electrical wiring harness for motor vehicles) contributing 2.8 percent of the total export receipts, was the fifth top export in 2012 with sales amounting to $1.446 billion, reflecting an increase of 30.3 percent from $1.110 billion in 2011.
Rounding up the list of top ten exports for 2012 were Coconut Oil with an export value of $1.041 billion, declining by 26.9 percent; Bananas (Fresh) with proceeds billed at $646.66 million, gaining by 36.9 percent from $472.38 million in 2011; Cathodes & Sections Of Cathodes, Of Refined Copper, worth $504.89 million, dropping by 58.3 percent; Gold with $480.56 million export receipts, increasing by 10.2 percent; and Petroleum Products, worth $465.05 million, decreasing by 28.2 percent from $647.75 million export receipts in 2011.
TOP 10 IMPORTS ACCOUNTED FOR 74.4 PERCENT OF IMPORT BILL
Total payment for the country’s top ten imports for 2012 reached $46.254 billion or 74.4 percent of the total import bill, registering a positive growth of 3.2 percent from $44.806 billion in 2011 (Table 3).
Electronic Products, accounting for 26.1 percent of the total import bill posted a decrease of 9.1 percent from $17.829 billion in 2011 to $16.204 billion in 2012.
Mineral Fuels, Lubricants and Related Materials ranked second with 22.1 percent share, increasing by 9.6 percent to $13.752 billion in 2012 from $12.552 billion in 2011.
Transport Equipment ranked third, comprising 7.8 percent of the total imports, increased by 46.8 percent to $4.823 billion in 2012 from $3.285 billion in 2011.
Industrial Machinery and Equipment, ranking fourth, recorded a 5.1 percent share and posted an increase of 8.0 percent to $3.194 billion worth of imports from $2.957 billion recorded value in 2011.
Cereals and Cereal Preparations ranked fifth with 2.6 percent share of the total imports worth $1.596 billion, higher by 7.7 percent from $1.482 billion in 2011.
Rounding up the list for the top ten imports for 2012 were Plastics in Primary and Non-Primary Forms, $1.548 billion, declining by 4.7 percent; Organic and Inorganic Chemical, $1.546 billion, decreasing by 8.0 percent; Iron and Steel, $1.382 billion, metering by 2.5 percent; Telecommunication Equipment and Electrical Machinery, $1.236 billion, rising by 2.6 percent; and Feeding Stuff For Animals (Not Including Unmilled Cereals), $973.61 million or an annual increase of 15.7 percent.
JAPAN ACCOUNTED FOR 14.3 PERCENT OF PH’s TOTAL TRADE
The country’s top ten trading partners for 2012 posted a total trade value of $86.498 billion or more than three-fourths (75.7%) of the total trade. This comprised a total export receipt of $41.306 billion or 79.3 percent of the total exports and total import bill of $45.192 billion or 72.7 percent of the total imports.
Japan was the country’s top trading partner in 2012, accounting for a total trade worth $16.350 billion or 14.3 percent of the country’s total trade. Exports to Japan totaled $9.881 billion while imports were valued at $6.470 billion, posting a trade surplus of $3.411 billion (Table 4). Electronic Products got a large share of 26.9 percent of the total exports to Japan valued at $2.655 billion, followed by Woodcrafts and Furniture at $2.150 billion or 21.8 percent (Table 5). On the other hand, majority of the imported products from Japan were Electronic Products billed at $2.400 billion or 37.1 percent and Transport Equipment with $975.42 million or 15.1 percent (Table 6).
USA followed as the country’s second largest trading partner in 2012 with total trade worth $14.541 billion or 12.7 percent of the total trade. Export receipts from USA stood at $7.417 billion while payments for imports were valued at $7.124 billion, resulting to a $293.50 million trade surplus (Table 4). The biggest receipt came from Electronic Products at $2.987 billion or 40.3 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $1.012 billion or 13.6 percent (Table 5). Imported goods purchased from USA consisted of Electronic Products worth $3.519 billion or 49.4 percent of the country’s total imports. Transport Equipment ranked the second highest imports with $731.19 million or a share of 10.3 percent (Table 6).
People’s Republic of China ranked third accounting for 11.2 percent or $12.850 billion total trade in 2012. Receipts from exports to China were valued at $6.169 billion while payment for imports totaled to $6.680 billion, reflecting a trade deficit of $511.07 million (Table 4). The bulk of exports were Electronic Products worth $3.898 billion or 63.2 percent of the total exports to the country and Metal Components with $242.90 million or 3.9 percent share (Table 5). Major imports from China were Electronic Products with purchases worth $1.566 billion or 23.4 percent of the total. Mineral Fuels, Lubricants and Related Materials came second valued at $484.25 million or 7.2 percent of the total (Table 6).
Singapore registered as the fourth largest trading partner of the country for 2012 with a total trade amounting to $9.272 billion or a share of 8.1 percent to total trade. Registered export receipts were valued at $4.867 billion while import bill reached $4.405 billion, recording a trade surplus of $461.57 million (Table 4). Electronic Products and Metal Components were the country’s major exports to Singapore with earnings of $3.112 billion or 63.9 percent share and $606.67 million or 12.5 percent of the total exports, respectively (Table 5). Similarly, Electronic Products with import bill of $1.891 billion or 42.9 percent share, and Mineral Fuels, Lubricants and Related Materials worth $826.70 million or 18.8 percent share were the major imports from Singapore (Table 6).
EUROPEAN UNION CORNERED 9.3 PERCENT OF PH’s TOTAL TRADE
Total external trade in goods with the European Union (EU) for 2012 grossed $10.571 billion or 9.3 percent of the country’s total trade. Exports to EU reached $5.928 billion or 11.4 percent of the total export receipts, while imports were valued at $4.643 billion or a 7.5 percent share to total imports, resulting to a balance of trade in goods (BOT-G) surplus of $1.284 billion. Among the EU member-countries, Germany was the country’s top trading partner with a total trade of $3.428 billion or 32.4 percent of EU’s total trade. Receipts from exports to Germany totaled to $1.956 billion while payment for imports was valued at $1.472 billion or a trade surplus of $484.39 million (Table 7).
Leading exports for the EU member-countries in 2012 were Electronic Products, $2.946 billion; Coconut Oil (crude and refined), $426.60 million; Articles of Apparel and Clothing Accessories, $210.79 million; Tuna (fresh, frozen, prepared or preserved in airtight containers), $177.92 million; and Metal Components, $98.60 million (Table 8).
Top five imports from the EU member-countries were: Electronic Products, $1.390 billion; Transport Equipment, $681.10 million; Industrial Machinery and Equipment, $445.77 million; Medicinal and Pharmaceutical Products, $390.21 million; and Paper and Paper Products, $125.55 million (Table 9).
ASEAN TOTAL TRADE STOOD AT $24.016 BILLION
Total external trade in goods with ASEAN member-countries for 2012 amounted to $24.016 billion or 21.0 percent of the country’s entire trade. Exports to ASEAN member-countries were valued at $9.808 billion while imports were worth $14.208 billion, generating a trade deficit of $4.401 billion. Singapore was the country’s top trading partner among the ASEAN member-countries with a total trade accounting for $9.272 billion or 38.6 percent share of the ASEAN total trade. Exports to Singapore registered a total of $4.867 billion while imports payment was $4.405 billion, reflecting a trade surplus of $461.57 million (Table 7).
Leading exports for the ASEAN member-countries in 2012 were: Electronic Products, $4.222 billion; Metal Components, $974.55 million; Petroleum Products, $282.51 million; Cathodes and Sections of Cathodes of Refined Copper, $251.16 million; and Fertilizers Manufactured, $117.61 million (Table 8).
Top five imports from the ASEAN member-countries were: Electronic Products, $3.362 billion; Mineral Fuels, Lubricants and Related Materials, $2.514 billion; Transport Equipment, $1.668 billion; Plastics in Primary and Non-Primary Forms, $644.72 million; and Industrial Machinery and Equipment, $507.10 million (Table 9).
TOTAL TRADE WITH APEC REACHED $92.858 BILLION
Total external trade with APEC member-countries for 2012 amounted to $92.858 billion or 81.3 percent of the country’s entire trade. Export receipts totaled to $44.147 billion or 84.7 percent of the total exports while import payments summed up to $48.710 billion or 78.4 percent share of the total imports resulting to a trade deficit of $4.563 billion. Topping the list were: Japan, $16.350 billion or 14.3 percent share; USA, $14.541 or 12.7 percent share; People’s Republic of China, $12.850 billion or 11.2 percent share; and Singapore, $9.272 billion or 8.1 percent share of the APEC total trade (Table 10).
Electronic Products were still the major export to APEC member-countries for 2012 with receipts valued at $19.401 billion or 43.9 percent share of the total APEC exports. Other top exports were: Woodcrafts and Furniture, $2.285 billion; Metal Components, $1.758 billion; Ignition Wiring Sets, $1.425 billion; and Articles of Apparel and Clothing Accessories, $1.299 billion (Table 11).
Topping the list of imported goods from APEC countries were: Electronic Products, $14.686 billion; Mineral Fuels, Lubricants and Related Materials, $7.655 billion; Transport Equipment, $3.950 billion; Industrial Machinery and Equipment, $2.656 billion; and Cereals and Cereal Preparations, $1.390 billion (Table 12).
Technical Notes:
1. The commodity groupings in this Special Release are in accordance with the 2004 Philippine Standard Commodity Classification (PSCC). 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.
2. All transactions that pass through the Automated Export Documentation System (AEDS) and Electronic to Mobile (E2M) System are included in the compilation of export statistics.
3. Starting with 2010 series, import statistics are adjusted based on the transactions that pass through the Electronic to Mobile (E2M) System.
