HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

APRIL 2018 (Preliminary)

1.  TOTAL TRADE SUMS UP TO $13.84 BILLION IN APRIL 2018

The country’s total external trade in goods in April 2018 reached $13.84 billion, reflecting an increase of 8.8 percent from $12.73 billion recorded during the same month in 2017. Total exports went down by 8.5 percent, from $5.59 billion in April 2017 to $5.11 billion in April 2018. On the other hand, total imports increased to $8.73 billion in April 2018 from $7.14 billion in April 2017 or an annual growth rate of 22.2 percent.  Furthermore, the country’s balance of trade in goods (BoT-G) expanded to a $3.62 billion deficit in April 2018, higher than the $1.55 billion deficit in April 2017.  (Tables 1, 2 and 3)

2.   EXPORTS DECLINE BY 8.5 PERCENT WHILE IMPORTS GROW BY 22.2 PERCENT

The country’s total export sales dropped by 8.5 percent from $5.59 billion in April 2017 to $5.11 billion in April 2018. This was brought about by the decreases posted by six out of the top ten commodities for the month led by exports of machinery and transport equipment (45.0%); gold (25.2%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (24.4%); coconut oil (23.9%); other manufactured goods (2.1%); and electronic equipment and parts (1.0%). (Table 2)

Similarly, total imported goods for the month of April 2018, amounting to $8.73 billion, rose by 22.2 percent from $7.14 billion posted during the same month of 2017. The increase was due to the positive growth of the top ten major import commodities for April 2018. These were the following: miscellaneous manufactured articles (49.1%); plastic in primary and non-primary forms (41.5%); telecommunications equipment and electrical machinery (33.6%); transport equipment (31.4%); iron and steel (30.8%); other food & live animals (29.4%); mineral fuels, lubricants and related materials (27.1%); organic and inorganic chemicals (25.1%); industrial machinery and equipment (24.1%); and electronic products (15.2%).  (Table 3)

3.  EXPORTS OF ELECTRONIC PRODUCTS GROW BY 5.5 PERCENT

Electronic Products continued to be the country’s top export with total earnings of $2.98 billion, accounting for 58.2 percent share of the total exports revenue in April 2018. It increased by 5.5 percent in April 2018 from the $2.82 billion export receipts in the same month of previous year. Components/Devices (Semiconductors) had the biggest share of 43.8 percent among electronic products, which posted an increase of 5.3 percent, from $2.13 billion in April 2017 to $2.24 billion in April 2018.

Other Manufactured Goods was the second top export earner with export revenue of $316.78 million. Export sales of this commodity group went down by 2.1 percent from the $323.55 million recorded in April 2017.  Other coal, whether or not pulverised, but not agglomerated commodity had the biggest share of 8.5 percent or $27.01 million in this commodity group.

Machinery and Transport Equipment placed third with $197.05 million or 3.9 percent share of the total export receipts. This export commodity dropped by 45.0 percent from the $358.18 million export revenue posted in April 2017.

Other Mineral Products was the fourth top export earner with $125.81 million revenue in April 2018, or a share of 2.5 percent of the total export receipts. It posted a positive growth of 3.3 percent from the previous year’s export of $121.78 million.  Nickel oxide sinters and other intermediate products of nickel metallurgy commodity had the biggest share of 38.4 percent or $48.36 million in this commodity group.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships placed fifth with $118.83 million and a 2.3 percent share of the total export receipts in April 2018.  This showed a decline of 24.4 percent from the previous year’s receipts of $157.10 million.

Completing the list of the top ten exports and their corresponding sales are:

• Metal Components, with $105.45 million went up by 2.4 percent;
• Gold, with $91.94 million, decreased  by  25.2 percent;
• Electronic equipment and parts, with  $81.91 million, dropped by 1.0 percent;
• Coconut Oil, with $79.69 million, declined by 23.9 percent;
• Miscellaneous Manufactured Articles n.e.s., with  $76.48 million, expanded by 71.9 percent;

Total receipts from the top ten major exports reached $4.17 billion or 81.5 percent of the total export.  This recorded a decrease of 1.6 percent from the April 2017 level of $4.24 billion. (Table 2)

4.    ELECTRONIC PRODUCTS COMPRISE  25.7 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top ten imports for April 2018 registered an amount of $6.30 billion, reflecting an increase of 24.6 percent over the April 2017 import value of $5.06 billion.  (Table 3)

Inbound shipments of Electronic Products in April 2018 accounted for 25.7 percent of the total import bill valued at $2.24 billion. It went up by 15.2 percent from the $1.94 billion posted value during the same month of 2017. Among electronic products, Components/Devices (Semiconductors), contributed the biggest share of 17.4 percent.    It increased by 11.4 percent, from $1.36 billion in April 2017 to $1.52 billion in April 2018.

Transport Equipment placed second with import value reaching $975.74 million or 11.2 percent share to total import bills. It rose by 31.4 percent from the April 2017 value of $742.74 million.

Minerals Fuels, Lubricants and Related Materials placed third with import value amounting to $808.69 million.  This commodity increased by 27.1 percent from the April 2017 import value of 636.28 million.

Imports of Industrial Machinery and Equipment, valued at $612.40 million in April 2018 or a percent share of 7.0 percent, ranked fourth. Import of this commodity went up by 24.1 percent from $493.39 million in April 2017.

Iron and Steel came in fifth with an import value of $462.01 million and with a share of 5.3 percent. Import of this commodity increased by 30.8 percent over the April 2017 value of $353.21 million.

Completing the list of the top ten imports for April 2018 were: 

• Other Food and Live Animals, $283.05 million, increased by 29.4 percent;
• Miscellaneous Manufactured Articles, $265.69 million, went up by 49.1 percent;
• Telecommunication Equipment and Electrical Machinery, $248.80 million, rose by 33.6 percent; 
• Plastics in primary and Non-primary forms, $234.72 million, increased   by 41.5 percent; and
• Organic and Inorganic Chemicals, $171.91 million, also up by 25.1 percent.

5.    EXPORTS OF MANUFACTURED GOODS DROP BY 6.3 PERCENT

Exports of Manufactured Goods, with a share of 84.2 percent of total exports, were valued at   $4.31   billion   in   April   2018   (Table 4).  It   decreased  by  6.3  percent  compared  to $4.60 billion export value in April 2017.

Total Agro-Based Products with a share of 5.3 percent or $270.70 million, decreased by 35.9 percent in April 2018.

Exports from Mineral Products with a share of 6.2 percent or $316.27 million, declined by 24.7 percent in April 2018.

Merchandise exports from Special Transactions, with a value of $184.71 billion or a share of 3.6 percent to the total export revenue, increased by 75.9 percent in April 2018 from the previous year’s figure of $105.00 million.

Exports of Forest Products, accounting for 0.4 percent share to the total exports or a value of $17.91 million, surged by 84.8 percent in April 2018.

Petroleum Products, with 0.4 percent share amounting to $18.70 million, fell by 43.0 percent from $32.81 million in April 2017.

6.    IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 37.2 PERCENT

By major type of goods, imports of Raw Materials and Intermediate Goods represented the largest share of 37.2 percent to total imports.  It increased by 11.8 percent, from $2.91 billion in April 2017 to $3.25 billion in April 2018.  Semi-Processed Raw Materials, valued at $2.98 billion, accounted for 34.1 percent share of the total imports for the   commodity   group.   Import   of   this   commodity   climbed   by   19.5  percent from the $2.49 billion posted in April 2017. (Table 5)

Imports of Capital Goods in April 2018, valued at $3.22 billion, accounted for 36.9 percent of the total imports.  It went up by 29.3 percent from the April 2017 value amounting to $2.49 billion.

Imports of Consumer Goods comprised 16.0 percent of the total imports in April 2018 or an amount of $1.40 billion.  It increased by 29.9 percent from the $1.07 billion registered value in April 2017.

Mineral Fuels, Lubricants and Related Materials, accounting for 9.3 percent of total imports, posted an increase of 27.1 percent, from $636.28 million in April 2017 to $808.69 million in April 2018.  Other mineral fuels, lubricants and related materials had the biggest share of imports for this commodity group contributing 5.7 percent of the total imports for the commodity or an amount of $495.31 million. 

Moreover,   imports of Special Transactions had  a  0.6 percent  share and an increase of 62.1 percent, from $34.35 million registered in April 2017 to $55.68 million in April 2018.

7.    EXPORTS TO HONG KONG ACCOUNTS FOR 16.4 PERCENT

Total exports receipt recorded by the country’s top ten market destinations for April 2018 amounted to $4.23 billion or 83.7 percent share of the total exports. (Table 6) 

Hong Kong ranked first with an export value of $837.76 million or a share of 16.4 percent of total exports in April 2018.  This represents an increase of 25.7 percent from $666.58 million in April 2017.

United States of America (USA), including Alaska and Hawaii, placed second with exports value of $789.54 million, or 15.4 percent of the total exports for April 2018.  Total exports for USA grew by 14.1 percent from $692.06 million value posted in April 2017.

Japan, including Okinawa came in third with $704.47 million or 13.8 percent of the total exports.  This went down by 30.2 percent from $1.01 billion in the same month of 2017.

People’s Republic of China ranked fourth with export shipments valued at $589.87 million or a share of 11.5  percent.  Exports  to  this  country  went  down by 4.6 percent from $618.29 million recorded in April 2017.

Singapore, contributing 6.7 percent share to total exports or an export value of $341.78 million, placed fifth.  It increased by 9.1 percent from $313.31 million posted in the same month of the previous year.

Completing the top ten market destinations for April 2018 were: Germany, $256.23 million; Thailand, $203.75 million; Taiwan, $202.87 million; Netherlands, $198.68 million; and Republic of Korea, $157.48 million.

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA COMPRISE 20.1 PERCENT

Import bills from the top ten countries for imports in April 2018 amounted to $7.01 billion or 80.3 percent of the total imports. 

People’s Republic of China was the country’s biggest source of imports with 20.1 percent share in April 2018.  Import payments to this country stood at $1.75 billion, posting an increase of 35.3 percent from $1.30 billion in April 2017.

Republic of Korea, which placed second, accounted for 11.0 percent or an import value of $958.48 million in April 2018. This represents an increase of 53.3 percent from the April 2017 value amounting to $625.05 million.   

Japan, including Okinawa, ranked third with imports valued at $958.19 million in April 2018 or a share of 11.0 percent. Import from this country rose to 3.7 percent from $924.13 million in April 2017. 

United States of America (USA), including Alaska and Hawaii, placed fourth with imports valued at $644.38 million in April 2018 or a share of 7.4 percent. Import bills from this country also increased by 11.8 percent from $576.37 million in April 2017. 

Thailand ranked fifth with a 6.9 percent share of the total import bills in April 2018.  Total import bills for Thailand rose by 31.4 percent, from $458.39 million in April 2017 to $602.54 million in April 2018.

Completing the list of major sources of imports for the month of April 2018 were: Indonesia, $545.95 million; Singapore, $480.02 million; Taiwan, $440.55 million; Malaysia (includes Sabah and Sarawak), $353.95 million; and Hong Kong, $270.02 million

9.  EXPORTS TO COUNTRIES IN EAST ASIA COMPRISE 48.8 PERCENT

By economic bloc, the bulk of the country’s merchandise exports in April 2018, which comprised of 48.8 percent of total exports or $2.49 billion, went to countries in East Asia.  This amount fell by 13.6 percent from $2.89 billion in April 2017 .

Exports to ASEAN member countries was valued at $834.11 million or a share of 16.3 percent of total merchandise exports. This represents an increase of 4.5 percent from the registered amount of $798.36 million in April 2017.

Commodities exported to European Union member countries comprised 13.8 percent of the total exports in April 2018 or a value of $705.78 million. Exports to this economic bloc declined by 8.9 percent from the $774.84 million amount posted in the same month of the previous year. (Table 9)

10.     IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 50.2 PERCENT

By economic bloc, East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) was the biggest source of the country’s imports in April 2018, representing 50.2 percent of the total imports of $4.38 billion.  This amount posted an increase of 27.5 percent from $3.44 billion in April 2017. 

Commodities imported from ASEAN member countries reached $2.20 billion. It comprised a 25.1 percent share to the total imports, with an increase of 21.9 percent from the April 2017 import value of $1.80 billion.

Imports from European Union amounted to $663.66 million.  It grew by 29.5 percent  from the April 2017 value of $512.41 million.  (Table 10)

EXPLANATORY NOTES

Export and Import trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export and import documents submitted to the Bureau of Customs (BOC) by exporters and importers or their authorized representatives as required by law.  PSA collects copies of these accomplished forms.  These are the following documents:

1. Export Declaration (ED – DTI form)
2. Import Entry & Internal Revenue Declaration (BOC IEIRD Form 236)
3. Informal Import Declaration and Entry (BOC Form 177)
4. Single Administrative Documents (SAD)

The output of the Automated Export Documentation System (AEDS) of the BOC is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents.

Moreover, an electronic copy of the IEIRD, or SAD, is utilized to capture the monthly import figures.  SAD-IEIRD is an on-line submission of import documents either by brokers or companies.  These are transactions that pass through the Automated Cargo Operating System (ACOS), now called the e2m (electronic to mobile) customs system, a system implemented through the BOC e-Customs Project.

All documents (hard copies and e-files) received before the cut-off date which is every 25^th day of the month, are compiled, processed and generated in monthly statistical tables for the preparation of Press Release.  All documents received after the cut-off date, however, are processed and included in the generation of the revised monthly statistical tables.

The digitized copies of all documents are provided by BOC and PEZA to PSA on a monthly basis through email.

Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release for a reference month is due 40 days after every month.  However, if the 10^th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday.  If the release date falls on a holiday, the date of release is moved accordingly.

The 2015 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed 10-digit code level for statistical purposes.

Data requests of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

Note: Starting March 2018 reference month, the 2017 Final Foreign Trade Figure will be used.  The increase in 2017 data was due to the inclusions of received hard copies of export and import documents after the cut-off date which is every 25^th day of the month from some ports.  Moreover, all export and import transactions from electronic copies of documents with date of registry or date of lodgement outside the reference month are consolidated, processed and distributed to its corresponding reference period.