Highlights of the Philippine Export and Import Statistics : February 2019

Reference Number: 

2019-058

Release Date: 

Thursday, April 11, 2019

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

FEBRUARY 2019 (Preliminary)

 

 

Exports

Imports

February 2019 p

February 2018 r

February 2019 p

February 2018 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

5,177.45

5,225.71

7,965.59

7,762.25

        Year-on-Year Growth (Percent)

-0.9

1.3

2.6

13.7

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

2,816.93

2,795.18

2,039.36

2,127.17

        Year-on-Year Growth (Percent)

0.8

0.5

-4.1

17.3

 

Top 10 Philippine Exports to All Countries: February 2019 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Bananas (Fresh)
54.6  
Metal Components
 -27.8
Cathodes & Sections Of Cathodes, Of Refined Copper
41.3 
Gold
  -18.4 
Miscellaneous Manufactured Articles, not elesewhere specified
 21.1  
Machinery and Transport Equipment
-16.7
Electronic Products
0.8 
Other Manufactured Goods
  -12.6 
Chemicals
 0.01  
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ship
     -3.6
 
 
Top 10 Philippine Imports from All Countries: February 2019 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Transport Equipment
 30.0 
Iron and Steel
-16.6
Cereals and Cereal Preparations
 28.4 
Miscellaneous Manufactured Articles
-10.4
Mineral Fuels, Lubricants and Related Materials
 15.5 
Industrial Machinery and Equipment
-7.1
Other Food and Live Animals
9.6
Electronic Products
-4.1
Telecommunication Equipment and Electrical Machinery
 7.6 
Plastics in Primary and Non-primary Forms
     -1.3
    p - preliminary
    r - revised
 
 
 
 
Figure 1
 

1. Total trade sums up to $13.14 billion

The country’s total external trade in goods in February 2019 amounted to $13.14 billion, reflecting an increment of 1.2 percent from the $12.99 billion recorded value during the same month of the previous year. Of the total external trade, $5.18 billion or 39.4 percent were exported goods and $7.97 billion or 60.6 percent were imported goods.

Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $2.79 billion deficit in February 2019, from $2.54 billion deficit in February 2018.  (Tables 1, 2 and 3)

 
Figure 2
 

2. Exports drop by 0.9 percent while imports increase by 2.6 percent

The country’s total export sales in February 2019 was $5.18 billion, indicating a decrement of 0.9 percent, from the $5.23 billion total export sales in February 2018. This was due to the decreases in export sales of the five of the top 10 commodities, namely, metal components (-27.8%); gold (-18.4%); machinery and transport equipment (-16.7%); other manufactured goods (-12.6%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-3.6%).  (Table 2)

On the other hand, total imported goods in February 2019 went up by 2.6 percent, from $7.76 billion in February 2018 to $7.97 billion in February 2019. The increment was due to the positive growth in five of the top 10 major import commodities. These were transport equipment (30.0%); cereals and cereal preparations (28.4%); mineral fuels, lubricants and related materials (15.5%); other food and live animals (9.6%); and telecommunication equipment and electrical machinery (7.6%). (Table 3) 

 

3. Exports of electronic products increase by 0.8 percent

Electronic Products continued to be the country’s top export with total earnings of $2.82 billion. This amount, which accounted for 54.4 percent of the total exports’ revenue in February 2019, posted an increment of 0.8 percent, from $2.80 billion export receipt in the same month of the previous year. Components/Devices (Semiconductors) accounted for the biggest share of 38.7 percent, among the electronic products.  It slid by 2.1 percent, from $2.05 billion in February 2018 to $2.00 billion in February 2019.

Other Manufactured Goods came second with $296.68 million earnings or a 5.7 percent share to the total export receipts in February 2019.  Export of this commodity declined by 12.6 percent from the previous year’s export value of $339.33 million.

Machinery and Transport Equipment ranked third with a total export payment of $194.72 million or 3.8 percent of the total. Export of this commodity contracted by 16.7 percent, from $233.74 million export revenue posted in the same month of the previous year.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships  was the fourth top export earner with a revenue of $172.17 million or a share of 3.3 percent.  Export receipts from this commodity group went down by 3.6 percent, from the $178.67 million recorded in February 2018. 

Cathodes and Sections of Cathodes, of Refined Copper placed fifth, with $156.52 million or a share of 3.0 percent to total export earnings in February 2019. It expanded by 41.3 percent from an export value of $110.80 million in February 2018.

Completing the list of the top 10 exports and their corresponding sales were:

  • Metal Components with $124.66 million, which dropped by 27.8 percent;
  • Bananas (Fresh) with $124.11 million, which grew by 54.6 percent;
  • Chemicals with $123.84 million, which increased by 0.01 percent;
  • Misc. Manufactured Articles, n.e.s with $101.17 million, which rose by 21.1 percent; and
  • Gold with $90.33 million, which went down by 18.4 percent.

Total receipts from the top 10 major exports amounted to $4.20 billion or a share of 81.1 percent of the total export.  This recorded a decrement of 0.7 percent from the   February 2018 export value of $4.23 billion. (Table 2)

Figure 3
 

4. Electronic products commodity group share 26.0 percent of total import bill

Total import bills for the country’s top 10 imports in February 2019 reached to $5.91 billion, an increase of 3.9 percent from the February 2018 import value of $5.69 billion.  (Table 3)

Import payment of Electronic Products, valued at $2.04 billion, accounted for the highest total imports with a share of 25.6 percent to the total imports. Import of this commodity group declined by 4.1 percent from the $2.13 billion posted in February 2018.  Among the electronic products, Components/Devices (Semiconductors) accounted for the biggest contribution of 18.3 percent.  It dropped by 1.2 percent, from $1.47 billion in February 2018 to $1.45 billion in February 2019.

Transport Equipment came second, with imports valued at $964.18 million or 12.1 percent of the total import value.  Import of this commodity rose by 30.0 percent from the February 2018 value of $741.95 million.

Mineral Fuels, Lubricants and Related Materials ranked third, with import bill amounting to $941.35 million or 11.8 percent of the total import value. It increased by 15.5 percent from the February 2018 value of $814.76 million.

Industrial Machinery and Equipment placed fourth, with imports valued at $500.58 million or a share of 6.3 percent. Imports of this commodity decreased by 7.1 percent over the February 2018 value of $538.70 million.

Imports of Iron and Steel ranked fifth, with a value of $329.82 million or a share of 4.1 percent. Import of this commodity contracted by 16.6 percent from the $395.44 million in February 2018.

Completing the list of the top 10 imports for February 2019 were:

  • Cereals and Cereal Preparations, $259.30 million which expanded by 28.4 percent;
  • Miscellaneous Manufactured Articles, $236.46 million which went down by 10.4 percent;
  • Other Food and Live Animals, $228.97 million which grew by 9.6 percent;
  • Telecommunication Equipment and Electrical Machinery, $218.97 million which increased by 7.6 percent; and
  • Plastics in Primary and Non-Primary Forms, $188.32 million which dropped by 1.3 percent.
 
Figure 4
 

5. Exports of manufactured goods decline by 2.4 percent

Exports of Manufactured Goods, representing 83.3 percent of total exports, were valued at   $4.31 billion   in   February 2019 (Table 4).  It  declined  by 2.4 percent from the $4.42 billion export value in February 2018.

Exports of Mineral Products, valued at $361.19 million or a share of 7.0 percent, grew by 4.2 percent in February 2019.

Total Agro-Based Products, with a share of $327.49 million or 6.3 percent, grew by 6.5 percent in February 2019.

Merchandise exports of Special Transactions, amounting to $141.43 million or 2.7 percent of the total export revenue, increased by 16.6 percent in February 2019, from its previous year’s amount of $121.27 million.

Exports of Forest Products, amounting to $28.87 million or a share of 0.6 percent,  expanded by 73.2 percent in February 2019.

Petroleum Products, with $5.42 million or 0.1 percent share, went down by 66.7 percent, from $16.25 million in the same month of the previous year.

 
Figure 5
 

6. Imports of raw materials and intermediate goods account for 36.4 percent of total import value

By major type of goods, imports of Raw Materials and Intermediate Goods posted the largest contribution of 36.4 percent to the total import value. It declined by 6.3 percent, from $3.09 billion in February 2018 to $2.90 billion in February 2019.  Semi-Processed Raw Materials had a share amounting to $2.64 billion or 33.1 percent of the total imports.  Import of this commodity went down by 6.5 percent from the $2.82 billion posted value in February 2018. (Table 5)
 
Imports of Capital Goods, valued at $2.75 billion, shared 34.6 percent in February 2019.  It increased by 11.5 percent from the February 2018 import value of $2.47 billion.
 
Imports of Consumer Goods, worth $1.32 billion, had a share of 16.6 percent to the total imports in February 2019.  It dropped by 1.5 percent from the $1.34 billion registered value in February 2018.
 
Imports of Mineral Fuels, Lubricants and Related Materials, contributing 11.8 percent to total imports, grew by 15.5 percent, from $814.76 million in February 2018 to $941.35 million in February 2019.  Petroleum Crude, valued at $339.96 million, comprised a share of 4.3 percent to total imports.
 
Special Transactions imports with a 0.7 percent share to total imports, expanded by 13.4 percent, from $46.64 million in February 2018 to $52.88 million in February 2019.
 
 
Figure 6
 

7. Exports to USA account for 17.4 percent

Total exports receipt recorded by the country’s top 10 market destinations in February 2019 amounted to $4.29 billion or 82.9 percent of the total exports. (Table 6)
 
United States of America (USA), including Alaska and Hawaii, ranked first with an export value of $901.86 million or a share of 17.4 percent to the total exports in February 2019.  Exports to this country reflected an increase of 13.6 percent, from the $793.93 million in February 2018.
 
Japan, including Okinawa, placed second with an export value of $832.98 million or 16.1 percent of the total exports in February 2019.  Total exports to Japan rose by 0.8 percent, from the $826.02 million value posted in February 2018.
People’s Republic of China came third, with $664.81 million or 12.8 percent of the total exports.  This value increased by 10.5 percent, from an export value of $601.54 million posted in February 2018.
 
Hong Kong placed fourth, with export shipments valued at $657.24 million or a share of 12.7 percent.  Exports to this country declined by 1.7 percent, from the $668.49 million recorded in February 2018.
 
Singapore, which ranked fifth, comprised $255.37 million or a 4.9 percent of the total export.   Outbound shipments to this country dropped by 32.3 percent, from the $377.31 million posted amount in the same month of the previous year.
 
Completing the top 10 market destinations in February 2019 were Thailand, $206.60 million; Germany, $203.35 million; Republic of Korea, $201.17 million; Netherlands, $193.81 million; and Taiwan, $173.46 million.  (Table 6)
 
Figure 7
 

8.  Imports from People’s Republic of China account for 20.3 percent

Import payments from the top 10 countries reached $6.06 billion or a share of 76.0 percent to the total imports in February 2019. (Table 7)
 
People’s Republic of China was the country’s biggest supplier of imported goods with 20.3 percent share to total imports in February 2019. Import bills to this country posted an increase of $1.62 billion or 6.0 percent,  from $1.53 billion in February 2018.
 
Japan, including Okinawa, which ranked second, shared 10.8 percent or an import value of $859.65 million in February 2019. This recorded an increase of 7.2 percent from the February 2018 value of $802.11 million.   
 
Republic of Korea placed third with an import value of $657.05 million in February 2019 or a share of 8.3 percent. Imports from this country dropped by 13.8 percent, from $762.47 million in February 2018. 
 
Thailand came fourth with imports valued at $560.94 million in February 2019 or a share of 7.0 percent. Import bills from this country decreased by 11.7 percent, from $635.47 million in February 2018.
 
United States of America (includes Alaska and Hawaii) ranked fifth, with a 6.6 percent share to the total import bills in February 2019.  Its total import payments went down by 4.6 percent, from $554.70 million in February 2018 to $529.11 million in February 2019.
 
Completing the list of major sources of imports for the month of February 2019 were Indonesia, $473.67 million; Singapore, $414.65 million; Malaysia (includes Sabah and Sarawak), $402.83 million; Taiwan, $318.45 million; and Vietnam, $223.85 million. (Table7)
 
Figure 8
 
 

9. Exports to countries in East Asia comprise 48.9 percent

By economic bloc, the bulk of the country’s merchandise exports in February 2019, which comprised 48.9 percent of total exports or $2.53 billion, went to countries in East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan).  This amount went up by 2.5 percent, from $2.47 billion in February 2018. (Table 9)
 
Total exports to the USA, valued at $901.86 million, had a share of 17.4 percent of total merchandise exports. It went up by 13.6 percent from the recorded value of $793.93 million in February 2018. (Table 9)
 
Exports to the ASEAN Member Countries , worth $768.45 million, comprised 14.8 percent of the total merchandise exports. This amount contracted by 14.6 percent from the recorded value of  $900.15 million in February 2019. (Table 9)
 
 
Figure 9
 
 

10. Imports from countries in EAST ASIA account for 45.5 percent

By economic bloc, East Asia was the biggest supplier of the country’s imports in February 2019, reaching $3.62 billion or 45.5 percent of the total imports.  This amount fell by 2.5 percent, from $3.71 billion in February 2018. 

Commodities imported from ASEAN member countries amounted to $2.09 billion. This amount, which comprised 26.3 percent of the total imports, recorded an increase of 1.7  percent from the February 2018 import value of $2.06 billion.

Imports from European Union member countries registered a value of $724.60 million in February 2019. It expanded by 49.3 percent from the February 2018 value of $485.25 million. (Table 10)

 
Figure 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 25th 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 10th 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.

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

 

 

(Sgd.) LISA GRACE S. BERSALES, Ph. D.
Undersecretary
National Statistician and Civil Registrar General
 
 
 
 
 

 

 

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