FOREIGN TRADE STATISTICS OF THE PHILIPPINES
FIRST SEMESTER 2013
FIRST SEMESTER 2013 TOTAL TRADE STOOD AT $55.199 BILLION
Total external trade in goods for the first six months of 2013 reached $55.201 billion, representing a 4.0 percent decrease from $57.545 billion for the same period in 2012. (Note: Values and growth rates in this Special Release refer to the first semester of 2013 and corresponding first semester of 2012). The drop of the external trade was due to the decline of both inward and outward trading of goods. Total imports went down by 3.7 percent from $30.786 billion in 2012 to $29.615 billion in 2013. Likewise, total export receipts decelerated by 4.4 percent from $26.759 billion in 2012 to $25.585 billion in 2013. The balance of trade in goods (BOT-G) for the country registered a $4.030 billion deficit during the first semester of 2013 higher than the $4.027 billion deficit for the same period last year (Table 1).
2013 FIRST SEMESTER’S TOP 10 EXPORTS ACCOUNTED FOR 79.2 PERCENT OF TOTAL RECEIPTS
Revenue of the top ten exports in 2013 with $20.251 billion or 79.2 percent of total exports receipts posted a 6.0 percent negative growth from $21.538 billion in 2012 (Table 2).
Electronic Products (includes on consignment and not on consignment) with 39.4 percent of total exports, was still the top earner for the first semester of 2013 but declined by 18.6 percent from $12.390 billion in 2012 to $10.086 billion in 2013.
Other Manufactures followed with a share of 8.3 percent and a receipt of $2.111 billion was 5.6 percent higher than the $1.999 billion of 2012.
Woodcrafts and Furniture ranking third with a share of 6.3 percent, posted an increase of 64.5 percent, from $977.11 million in 2012 to $1.608 billion in 2013.
Chemicals with a share of 4.7 percent, ranked fourth with export receipts of $1.206 billion or 24.0 percent higher than the $972.36 million in 2012.
Machinery and Transport Equipment with $1.171 billion or 4.6 percent of the total export receipts was the country’s fifth top export in 2013, but decreased by 40.0 percent from $1.950 billion in 2012.
Rounding up the list of top ten exports for the first semester in 2013 were: Other Mineral Products with an export value of $1.013 billion, increasing by 129.2 percent; Metal Components worth $983.46 million, growing by 53.3 percent; Articles of Apparel and Clothing Accessories (includes on consignment and not on consignment), $785.07 million, decreasing by 14.8 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (includes on consignment and not on consignment), worth $749.99 million or an increase of 5.8 percent; and Coconut Oil (includes crude and refined) with proceeds billed at $538.31 million, slightly increasing by 0.3 percent from $536.82 million in 2012.
2013 FIRST SEMESTER’S TOP 10 IMPORTS ACCOUNTED FOR 74.4 PERCENT OF IMPORT BILL
Almost three-fourths ($22.034 billion) of the total imports for the first semester of 2013 were contributed by the top ten imports. It registered a negative growth of 6.7 percent from $23.628 billion during the first semester of 2012 (Table 3).
Electronic Products (includes on consignment and not on consignment), still the country’s leading imported goods with 24.0 percent of the total import bill, posted a decline of 14.0 percent from $8.254 billion in 2012 to $7.101 billion in 2013.
Mineral Fuels, Lubricants and Related Materials ranked second with 22.6 percent share, decreasing by 4.7 percent from $7.035 billion in 2012 to $6.704 billion in 2013.
Transport Equipment ranked third comprising 8.0 percent of the total imports, rising by 2.3 percent to $2.381 billion from $2.328 billion in 2012.
Industrial Machinery and Equipment ranked fourth with 5.5 percent share, up by 4.3 percent to $1.628 billion from $1.561 billion worth of imports in 2012.
Other Food and Live Animals ranked fifth with 3.0 percent share of the total imports valued at $890.74 million, higher by 14.6 percent from $777.58 million in 2012. Other Food and Live Animals reflected the highest growth among the top ten imports in first semester of 2013.
Iron and Steel with 2.5 percent share of total imports ranked sixth, up by 4.9 percent with foreign bill amounting to $745.00 million from $710.42 million in 2012.
The remaining top ten imports for the first semester of 2013 were as follows: Plastics in Primary and Non-Primary Forms, $725.54 million, decreasing by 13.2 percent; Organic and Inorganic Chemical, $682.64 million, down by 13.3 percent; Telecommunication Equipment and Electrical Machinery (includes telecommunications and sound recording and reproducing apparatus and equipment), $598.01 million, declining by 4.5 percent; and Cereals and Cereal Preparations, $577.15 million, decelerating by 19.0 percent.
JAPAN ACCOUNTED FOR 14.1 PERCENT OF COUNTRY’S TOTAL TRADE
The top ten trading partners in the country for the first semester of 2013 posted a total trade value of $41.738 billion or 75.6 percent of the aggregated external trade. This comprised a total export receipt of $20.976 billion or 82.0 percent of the total and total import bill of $20.762 billion or 70.1 percent of the total imports (Table 4).
Japan (includes Okinawa) was the country’s top trading partner in the first semester of 2013, accounting for 14.1 percent or $7.795 billion of the total external trade. Total exports receipts to Japan amounted to $5.186 billion while imports were valued at $2.609 billion, posting a trade surplus of $2.577 billion (Table 4). Woodcraft and Furniture registered a large share of 28.5 percent of the total exports to Japan valued at $1.480 billion, followed by Electronic Products valued at $1.207 billion or 23.3 percent share of the total exports. On the other hand, the bulk of the imported goods from Japan were Electronic Products billed at $813.30 million or 31.2 percent of the total imports and Transport Equipment with $392.52 million or 15.0 percent of the total imports (Tables 5 and 6).
USA (includes Alaska and Hawaii) registered as the country’s second largest trading partner in the first semester of 2013 with total trade valued at $6.902 billion or 12.5 percent of the total trade. Export proceeds from USA reached $3.588 billion while payments for imports were worth $3.313 billion, resulting to a favorable balance of trade in goods (BOT-G) of $274.62 million (Table 4). The largest portion of the export revenue came from Electronic Products valued at $1.317 billion or 36.7 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $496.24 million or 13.8 percent of the total exports to USA. Most of the imported goods purchased from USA comprised of Electronic Products worth $1.493 billion or 45.1 percent of the country’s total imports. Transport Equipment was the second highest imported good from USA with $395.70 million or a share of 11.9 percent.
People’s Republic of China ranked third, accounting for $6.846 billion or 12.4 percent of the total trade in the first semester of 2013. Sales from exports to China were valued at $3.015 billion while payment for imports totaled to $3.831 billion, reflecting a trade deficit of $815.21 million (Table 4). Majority of the exports came from Electronic Products worth $1.465 billion or 48.6 percent of the total exports to China. Metal Components was a far second with $158.75 million or 5.3 percent share. Major imported goods purchased from China were: Electronic Products worth $796.02 million or 20.8 percent of the total imports; Mineral Fuels, Lubricants and Related Materials valued at $440.22 million (11.5%); and Industrial Machinery and Equipment with payments for imported goods worth $266.62 million (7.0%).
Republic of Korea had a share of 8.0 percent to total trade or $4.419 billion worth of goods and ranked as the fourth largest trading partner of the country for the first semester of 2013. Recorded export receipts amounted to $1.971 billion while import payments totaled $2.448 billion, resulting to a trade deficit of $476.36 million (Table 4). The country’s major exports to Republic of Korea were Electronic Products with $454.20 million or 23.0 percent of the total exports. Exports of Bananas (fresh) was a far second with $50.88 million or 2.6 percent. Mineral Fuels, Lubricants and Related Materials with import bill of $894.51 million or 36.5 percent share, and Electronic Products worth $459.55 million or 18.8 percent share were the major imports from Republic of Korea.
EUROPEAN UNION CORNERED 9.7 PERCENT OF PHILIPPINES’ TOTAL TRADE
The total external trade in goods with the European Union (EU) for the first semester of 2013 was valued at $5.367 billion or 9.7 percent of the country’s total trade. Goods exported to EU reached $2.957 billion or 11.6 percent of the total export receipts, while imports were valued at $2.410 billion or a 8.1 percent share to total imports, resulting to a trade surplus of $546.07 million. Among the EU member-countries, Germany was the country’s top trading partner with a total trade of $1.727 billion or 32.2 percent of EU’s total trade. Revenue from exports to Germany amounted to $869.99 million while payment for imports was valued at $856.95 million, resulting to a balance of trade (BOT-G) surplus of $13.04 million (Table 7).
Top exports for the EU member-countries for the first semester in 2013 were: Electronic Products, $1.471 billion; Coconut Oil, $213.17 million; Tuna (includes fresh, frozen, preserved or preserved in airtight containers), $179.29 million; Articles of Apparel and Clothing Accessories, $88.11 million; and Seaweeds and Carageenan, $55.63 million (Table 8).
Leading imports from the EU member-countries for the first semester in 2013 were: Electronic Products, $769.73 million; Transport Equipment, $325.96 million; Industrial Machinery and Equipment, $234.60 million; Medicinal and Pharmaceutical Products, $228.54 million; and Metalliferous Ores and Metal Scrap, $182.02 million (Table 9).
ASEAN TOTAL TRADE STOOD AT $10.817 BILLION
The country’s external trade in goods with ASEAN member-countries for the first semester of 2013 amounted to $10.817 billion or 19.6 percent of the total trade. Exported goods to ASEAN member-countries were valued at $4.341 billion while imports were worth $6.475 billion, resulting to a trade deficit of $2.134 billion. Singapore was still the country’s top trading partner among the ASEAN member-countries with a total trade valued at $4.000 billion or 37.0 percent share of the ASEAN total trade. Exports to Singapore amounted to $1.905 billion while imports payment was $2.095 billion, which resulted to a trade deficit of $189.52 million (Table 7).
Principal exports to the ASEAN member-countries for the first semester in 2013 were: Electronic Products, $1.913 billion; Petroleum Products (includes refined petroleum products, manufactured from crude petroleum oil), $325.77 million; Metal Components, $276.74 million; Cathodes and Sections of Cathodes of Refined Copper, $89.42 million; and Machinery and Transport Equipment, $55.50 million (Table 8).
The first semesters’ leading imports in 2013 from the ASEAN member-countries were: Electronic Products, $1.430 billion; Mineral Fuels, Lubricants and Related Materials, $1.333 billion; Transport Equipment, $813.52 million; Plastics in Primary and Non-Primary Forms, $316.23 million; and Industrial Machinery and Equipment, $269.10 million (Table 9).
COUNTRY’S TOTAL TRADE TO APEC REACHED $45.177 BILLION
For the 2013 first semester, the largest share of the country’s entire trade came from APEC member-countries amounting to $45.177 billion or 81.8 percent of the total external trade. Revenue from exports totaled $21.505 billion or 84.1 percent of the total exports while import payments amounted to $23.673 billion or 79.9 percent share of the total imports. Leading APEC member-countries were: Japan, $7.795 billion or 14.1 percent share; USA, $6.902 or 12.5 percent share; People’s Republic of China, $6.846 billion or 12.4 percent share; and Singapore, $4.000 billion or 7.2 percent share of the APEC total trade (Table 10).
Electronic Products remained as the major export to APEC member-countries for the first semester of 2013 with total receipts valued at $8.388 billion or 39.0 percent share of the total APEC exports. Other top exports were: Woodcrafts and Furniture, $1.488 million; Ignition Wiring Sets, $743.36 million; Metal Components, $724.23 million; and Articles of Apparel and Clothing Accessories, $611.72 million (Table 11).
Rounding up the list of imported goods from APEC member-countries were: Electronic Products, $6.299 billion; Mineral Fuels, Lubricants and Related Materials, $4.344 billion; Transport Equipment, $1.940 billion; Industrial Machinery and Equipment, $1.362 billion; and Paper and Paper Products, $723.06 million (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) 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.
