Highlights of the Philippine Export and Import Statistics : January 2020

Reference Number: 

2020-054

Release Date: 

Tuesday, March 10, 2020

 

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS
JANUARY 2020 (Preliminary)

 

Table A.1  Summary of External Trade Performance: January 2020 and January 2019

  Exports Imports
January 2020p January 2019r January 2020p January 2019
TOTAL        
FOB Value (in Million US Dollars) 5,788.77 5,278.98 9,288.01 9,199.08
Year-on-Year Growth (Percent) 9.7 -6.7 1.0 3.6
 
Electronic Products        
FOB Value (in Million US Dollars) 3,233.81 2,792.21 2,352.34 2,362.06
Year-on-Year Growth (Percent) 15.8 -3.9 -0.4 4.1
p – preliminary, r – revised

 

1. Total external trade increases by 4.1 percent

The country’s total external trade in goods in January 2020 amounted to USD15.08 billion, which represents an increment of 4.1 percent from the USD14.48 billion external trade in the same month of the previous year.  Of the total external trade, USD5.79 billion (38.4%) were exported goods and USD9.29 billion (61.6%) were imported goods.  (Figure 1)

The country’s balance of trade in goods (BoT-G) in January 2020 posted a USD3.50 billion deficit, which was lower by 10.7 percent from the USD3.92 billion deficit in January 2019. (Figure 1 and Table 1)

 

2. Exports increase by 9.7 percent

The country’s total export sales in January 2020 was USD5.79 billion, an increase of 9.7 percent from the USD5.28 billion total export sales in January 2019.  This was due to the increases in the export sales of seven of the top 10 major export commodities, namely, other mineral products (68.3%); gold (46.0%); electronic products (15.8%); cathodes and sections of cathodes, of refined copper (10.1%); other manufactured goods (7.4%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (1.3%);  and chemicals (1.2%). (Table A.2 and Table 3)

 

Table A.2  Top 10 Philippine Exports to All Countries:  January 2020

Year-on-Year Growth in Percent

Gainers Losers
Other Mineral Products 68.3 Machinery and Transport Equipment -35.1
Gold 46.0 Metal Components -13.2
Electronic Products 15.8 Bananas (Fresh) -0.7
Cathodes and Section of Cathodes, of Refined CopperElectronic Products 10.1    
Other Manufactured Goods 7.4    
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships 1.3    
Chemicals 1.2    
p – preliminary, r- revised

 

3. Exports of electronic products account for 55.9 percent of the total exports

By commodity group, exports of electronic products continued   to   be   the   country’s   top   export with total earnings of USD3.23 billion.  This amount, which accounted for 55.9 percent of the total exports in January 2020, expanded by 15.8 percent, from the USD2.79 billion export receipt in January 2019.  (Figure 2 and Table 3)

 

 

4. Exports of manufactured goods increase by 7.5 percent

By major type of goods, exports of manufactured goods accounted for 81.3 percent of the total exports or a value of USD4.70 billion in January 2020.  It  went up by 7.5 percent from USD4.37 billion export value registered in January 2019.  (Figure 3 and Table 4)

 

5. Among the Philippine’s major trading partners, United States of America (USA) contributes the highest export value

By major trading partner, exports to the United States of America (USA) comprised the highest value of USD941.73 million or a share of 16.3 percent to the total exports in January 2020.  Exports to this country grew by 12.9 percent, from USD833.87 million in January 2019.  Other major export trading partners were Japan with export value of USD930.89 million; Hong Kong, USD809.74 million; People’s Republic of China, USD685.58 million; and Singapore, USD310.25 million.  (Figure 4 and Table 5)

 

6. Exports to countries in East Asia account for 49.9 percent

By economic bloc, 49.9 percent of the country’s merchandise exports in January 2020 or USD2.89 billion went to countries in East Asia.  This amount went up by 13.4 percent, from USD2.55 billion in January 2019.  (Figure 5 and Table 6)

 

7. Imports increase by 1.0 percent

Total imported goods in January 2020 went up by 1.0 percent, from USD9.20 billion in January 2019 to USD9.29 billion in January 2020. The increment was due to the increases of seven of the top 10 major import commodities. These were mineral fuels, lubricants and related materials (20.2%); miscellaneous manufactured articles (11.6%);  other food and live animals (11.0%);  iron and steel (7.2%);  transport equipment (5.0%); industrial machinery and equipment (2.9%); and telecommunication equipment and electrical machinery (1.7%).   (Table A.3 and Table 7)

 

TABLE A.3  Top 10 Philippine Imports from All Countries:  January 2020
Year-on-Year Growth in Percent

Gainer Losers
Mineral Fuels, Lubricants and Related Materials 20.2 Cereals and Cereal Preparations -44.7
Miscellaneous Manufactured Articles 11.6 Plastics in Primary and Non-Primary Forms -4.3
Other Food and Live Animals 11.0 Electronic Products -0.4
Iron and Steel 7.2    
Transport Equipment 5.0    
Industrial Machinery and Equipment 2.9    
Telecommunication Equipment and Electrical Machinery 1.7    
p – preliminary

 

8. Imports of electronic products account for 25.3 percent of the total imports

Among the imported commodity groups, import bills of electronic products, valued at USD2.35 billion, contributed the highest share of 25.3 percent to the total imports.  Import of this commodity group declined by 0.4 percent, from USD2.36 billion in January 2019.  (Figure 6 and Table 7)

9. Imports of raw materials and intermediate goods contracts by 3.7 percent

By major type of goods, imports of raw materials and intermediate goods accounted for the largest share of 37.8 percent to the total import value.  It dropped by 3.7 percent, from USD3.65 billion in January 2019 to USD3.51 billion in January 2020. 

Imports of capital goods, which shared 32.8 percent or an import value of USD3.05 billion, ranked second.  Consumer goods placed third with a share of 17.5 percent or an import value worth USD1.62 billion.  (Figure 7 and Table 8)

 

10.  People’s Republic of China has the highest import value

The People’s Republic of China was the country’s biggest supplier of imported goods with 25.5 percent share to the total imports in January 2020.  Import payments from this country amounted to USD2.37 billion, from USD2.04 billion in January 2019.  Other major import trading partners were Japan with import value of USD810.69 million; Republic of Korea, USD698.27 million; USA, USD610.26 million; and Indonesia, USD563.90 million.  (Figure 8 and Table 9)

 

11. Imports from countries in East Asia comprise 49.7 percent

By economic bloc, East Asia was the biggest supplier of the country’s imports in January 2020 with a value of USD4.61 billion or 49.7 percent of the total imports.  This amount rose by 5.0 percent, from USD4.39 billion in January 2019. (Figure 9 and Table 10)

 

 

CLAIRE DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General

 

 

Explanatory Notes

Export and import trade statistics are compiled by the Philippine Statistics Authority (PSA) from export and import documents submitted to the Bureau of Customs (BOC) by exporters and importers or their authorized representatives as required by law.  The PSA regularly collects these documents, which are as follows:

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

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

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, which is implemented through the BOC e-Customs Project.

All documents (hard copies and e-files) received within the cut-off date, which is every 25th day of the month, are compiled, processed, summarized, analyzed and disseminated through monthly statistical tables and press releases. Processing includes coding, editing, review and validation of results. All documents received after the cut-off date are included in the generation of the revised monthly statistical tables which are available 10 to 15 working days after the press release date.

The press release for a reference month is due 40 days after the reference month.  However, if the due date falls on a Saturday, release is made a day earlier (Friday). If it falls on a Sunday or Monday, the release is 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 10-digit code level for statistical purposes.

Data requests on international merchandise trade statistics can be made at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (telephone number: (02) 8376-19-75 or at email address, j.soliven@psa.gov.ph).
 

 

See more at the Foreign Trade landing page.

 

Tags: 

Attachments: