Top 10 Philippine Imports to All Countries: July 2018 p (Year-on-Year Growth in Percent)
Gainers		Losers
Iron and Steel	135.5	Other Food and Live Animals	-6.2
Transport Equipment	61.1
Miscellaneous Manufactured Articles	45.4
Electronic Products	43.2
Telecommunication Equipment and Electrical Machinery	37.9
Mineral Fuels, Lubricants and Related Materials	35.8
Cereals and Cereal Preparations	35.7
Plastics in Primary and Non-primary Form	29.5
Industrial Machinery and Equipment	17.9

 

 

 

1.     TOTAL TRADE AMOUNTS TO $15.25 BILLION

The country’s total external trade in goods in July 2018 reached $15.25 billion, indicating an increase of 17.5 percent from $12.97 billion reflected during the same month in 2017. Total exports grew by 0.3 percent, from $5.83 billion in July 2017 to $5.85 billion in July 2018.

On the other hand, total imports went up to $9.40 billion in July 2018 from $7.14 billion in the same month of previous year or an annual growth rate of 31.6 percent.  Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $3.55 billion deficit in July 2018, from the $1.31 billion deficit in July 2017.  (Tables 1, 2 and 3)

 

 

2.      EXPORTS AND IMPORTS GROW BY 0.3 PERCENT and 31.6 PERCENT, RESPECTIVELY

The country’s total export sales posted an increase of 0.3 percent from $5.83 billion in July 2017 to $5.85 billion in July 2018. This was due to the increases posted by six out of the top 10 commodities for the month led by exports of miscellaneous manufactured articles (80.2%); bananas (fresh) (60.3%); electronic equipment and parts (43.3%); other mineral products (33.6%); metal components (8.7%); and electronic products (5.2%). (Table 2)

On the other hand, total imported goods for the month of July 2018, amounting to $9.40 billion, grew by 31.6 percent from $7.14 billion posted during the same month in 2017. The increase was due to the positive growth of the 9 out of the top 10 major import commodities for July 2018. These were the following: iron and steel (135.5%); transport equipment (61.1%); miscellaneous manufactured articles (45.4%); electronic products (43.2%); telecommunication equipment and electrical machinery (37.9%); mineral fuels, lubricants and related materials (35.8%); cereals and cereal preparations (35.7%); plastics in primary and non-primary forms (29.5%); and industrial machinery and equipment (17.9%).  (Table 3)

 

3.     EXPORTS OF ELECTRONIC PRODUCTS GROW BY 5.2 PERCENT

Electronic   Products continued   to   be   the   country’s   top   export with   total   earnings of $3.28 billion, accounting for 56.0 percent share to the total exports revenue in July 2018. It increased by 5.2 percent from the $3.11 billion export receipts in the same month of the previous year. Components/Devices (Semiconductors) contributed the biggest share of 40.6 percent among electronic products. It posted an increase of 1.5 percent, from $2.34 billion in July 2017 to $2.37 billion in July 2018.

Other Manufactured Goods placed second with $312.57 million or 5.3 percent of the total export receipts. Export of this commodity dropped by 7.3 percent from the $337.33 million export revenue posted in July 2017.

 

Machinery and Transport Equipment was the third top export earner with export revenue of $238.56 million or a share of 4.1 percent. Export sales of this commodity group went down by 14.4 percent from the $278.78 million recorded in July 2017.

 

Other Mineral Products ranked fourth with $170.64 million and a 2.9 percent share to the total export receipts in July 2018. Export of this commodity however, increased by 33.6 percent from the previous year’s receipts of $127.69 million.

 

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, with $150.36 million revenue was the fifth top export earner in July 2018. It posted a negative growth of 18.8 percent from the previous year’s export of $185.20 million.

 

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

• Electronic Equipment and Parts, with $125.47 million, which increased  by 43.3 percent;
• Bananas (Fresh), with $125.10 million, which went up by 60.3 percent;
• Metal Components, with  $121.93 million, which increased by 8.7 percent;
• Cathodes and Sections of Cathodes, of Refined Copper, with  $112.11 million, which significantly dropped by 0.1 percent;
• Miscellaneous Manufactured Articles, with $99.90 million, which registered the highest growth of 80.2 percent;

Total receipts from the top 10 major exports reached $4.73 billion or 80.9 percent of the total export. This recorded an increase of 5.4 percent from the July 2017 export value of $4.49 billion.

(Table 2)

 

 

 

4.     ELECTRONIC PRODUCTS ACCOUNTS FOR  24.8 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top 10 imports for July 2018 reached $6.99 billion, recording an increment of 42.2 percent over the July 2017 import value of $4.92 billion.  (Table 3)

Inbound shipments of Electronic Products in July 2018 comprised 24.8 percent of the total imports valued at $2.33 billion. It rose by 43.2 percent from the $1.63 billion posted value during the same period in 2017. Among electronic products, Components/Devices (Semiconductors) reflected the biggest share of 17.2 percent. It went up by 51.0 percent, from $1.07 billion in July 2017 to $1.61 billion in July 2018.

Transport Equipment ranked second with import bill amounting to $1.18 billion or 12.6 percent share to total import value. It expanded by 61.1 percent from the July 2017 value of $733.50 million.

Mineral Fuels, Lubricants and Related Materials came in third with import value reaching $1.14 billion.  This commodity went up by 35.8 percent from the July 2017 import value of $840.90 million.

Imports of Industrial Machinery and Equipment, valued at $592.71 million in July 2018 or a percent share of 6.3 percent, ranked fourth. This commodity increased by 17.9 percent from $502.87 million in July 2017.

Iron and Steel came in fifth with imports valued at $489.43 million and a share of 5.2 percent. Imports of this commodity rose by 135.5 percent over the July 2017 value of $207.79 million.

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

• Miscellaneous Manufactured Articles,    $296.77   million, which went    up by 45.4 percent;
• Telecommunication Equipment and Electrical Machinery, $275.30 million, which increased  by 37.9 percent;
• Other Food and Live Animals, $266.91 million which decreased by 6.2 percent; 
• Plastics in Primary and Non-Primary forms, $223.11 million which  rose  by 29.5 percent; and
• Cereals and Cereal Preparations, $197.86 million which grew  by 35.7 percent;

 

 

5.     EXPORTS OF MANUFACTURED GOODS DECREASE BY 0.3 PERCENT

Exports of Manufactured Goods, with a share of 83.4 percent of total exports, were valued at   $4.88   billion   in   July   2018   (Table 4).  It   posted a decline of 0.3 percent compared to $4.90 billion export value in July 2017.

Total Agro-Based Products, with a share of 6.6 percent or $386.10 million, declined by     5.4 percent in July 2018.

Exports from Mineral Products, with a share of 6.4 percent or $373.60 million, went up by 4.3 percent in July 2018.

Merchandise exports from Special Transactions, with a value of $172.99 million or a share of 3.0 percent to the total export revenue, increased by 60.6 percent in July 2018 from the previous year’s figure of $107.72 million.

Exports of Forest Products, accounting for 0.4 percent share to the total exports or a value of $24.49 million, significantly increased by 130.8 percent in July 2018.

Petroleum Products, with 0.2 percent share amounting to $12.48 million, declined by 75.9 percent from $51.89 million in July 2017.

 

 

 

By major type of goods, imports of Raw Materials and Intermediate Goods contributed the largest share of 36.8 percent to total import value. It rose by 28.3 percent from $2.69 billion in July 2017 to $3.46 billion in July 2018. Semi-Processed Raw Materials, with a share of 34.2 of the total imports for the commodity group amounted to $3.22 billion.  Import of this commodity increased by 40.1 percent from the $2.30 billion posted in July 2017. (Table 5)

Imports of Capital Goods accounted for 33.9 percent, valued at $3.18 billion in July 2018. It went up by 38.9 percent from the July 2017 import value of $2.29 billion.

Imports of Consumer Goods contributed 16.6 percent of the total imports in July 2018 amounting to $1.56 billion.  It grew by 22.0 percent from the $1.28 billion registered value in July 2017.

Mineral Fuels, Lubricants and Related Materials, comprising 12.2 percent of total imports, posted an increment of 35.8 percent, from $840.90 million in July 2017 to $1.14 billion in July 2018.  Petroleum crude accounted for the largest share of imports of this commodity group of 5.4 percent or a value of $502.81 million.

Moreover, imports of Special Transactions with a 0.6 percent share registered an increase of 66.1 percent from $33.21 million registered in July 2017 to $55.15 million in July 2018.

 

 

 

Total exports receipt recorded by the country’s top 10 market destinations for July 2018 reached $4.80 billion or 82.0 percent share to the total exports. (Table 6) 

United States of America (USA), including Alaska and Hawaii ranked first with exports valued at $972.52 million or 16.6 percent of the total exports for July 2018.  Total exports for USA grew by 7.4 percent from $905.32 million value posted in July 2017.

Hong Kong, placed second with an export value of $859.98 million or a share of 14.7 percent of total exports in July 2018. Exports to this country represent an increase of 11.4 percent from $771.89 million in July 2017.

Japan, including Okinawa, came in third with export shipments valued at $799.02 million or a share of 13.7 percent. Exports to this country, however, went down by 18.6 percent from $981.87 million recorded in July 2017.

People’s Republic of China placed fourth with $773.01 million or 13.2 percent of the total exports. This went up by 10.4 percent from an export value of $700.20 million in the same month of 2017.

Singapore, contributing a 5.9 percent share to total exports or an export value of
$344.44 million, ranked fifth. Outbound shipments to this country grew by 4.4 percent from $330.04 million posted in the same month of the previous year.

Completing the top ten market destinations for July 2018 were: Thailand, $244.33 million; Germany, $237.52 million; Taiwan, $206.82 million; Malaysia, including Sabah and Sarawak , $186.51 million; and Republic of Korea, $173.42 million.  (Table 6)

 

 

                                        1/ - includes Alaska and Hawaii;  2/ - includes Okinawa 3/ - includes Sabah and Sarawak

 

8.     IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNTS FOR 19.8 PERCENT

Import bills from the top 10 countries amounted to $7.16 billion or a share of 76.1 percent of the total imports in July 2018. 

People’s Republic of China was the country’s biggest supplier of imports with 19.8 percent share in July 2018.  Import bills to this country were registered at $1.86 billion, expanding by 51.2 percent from $1.23 billion in July 2017.

Republic of Korea, which ranked second, contributed a percent share of 10.0 percent or an import value of $936.49 million in July 2018. This recorded an increase of 50.7 percent from the July 2017 value amounting to $621.45 million.   

Japan, including Okinawa, placed third with an import value of $911.48 million in July 2018 or a share of 9.7 percent. Imports from this country went up by 16.4 percent from $783.10 million in July 2017. 

Thailand ranked fourth with a 7.0 percent share to the total import bills in July 2018.  Its total import bills rose by 29.0 percent from $506.79 million in July 2017 to $653.96 million in July 2018.

United States of America (USA), including Alaska and Hawaii, came in fifth with imports valued at $653.14 million in July 2018 or a share of 7.0 percent. Import bills from this country went up by 21.0 percent from $539.92 million in July 2017. 

Completing the list of major sources of imports for the month of July 2018 were: Indonesia, $553.27 million; Singapore, $507.58 million; Taiwan, $437.36 million; Malaysia (includes Sabah and Sarawak), $375.63 million; and Hong Kong, $267.66 million.

 

 

                                        1/ - includes Okinawa; 2/ - includes Alaska and Hawaii; 3/ - includes Sabah and Sarawak

 

 

By economic bloc, the bulk of the country’s merchandise exports in July 2018, which comprised 48.1 percent of total exports or $2.81 billion, went to countries in East Asia.  This amount fell by 3.1 percent from $2.90 billion in July 2017.

Commodities exported to United States of America accounted to 16.6 percent of the total exports in July 2018 or a value of $972.52 million. Exports to this economic bloc increased by 7.4 percent from the $905.32 million posted in the same month of the previous year. (Table 9)

Total exports   to   ASEAN   member   countries   were   valued   at   $944.94 million or a share of 16.1 percent of total merchandise exports. This went up by 13.5 percent from the recorded value of $832.47 million in July 2017.

 

1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan

2/ - includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam

3/ - includes Alaska and Hawaii

4/ - includes Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia,  Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania,Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and UK Great Britain

 

 

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 July 2018 which was valued at $4.41 billion, or a 47.0 percent share to the total imports.  This amount posted an increase of 37.5 percent from $3.21 billion in July 2017. 

Commodities imported from ASEAN member countries amounted to $2.33 billion. It contributed 24.8 percent to the total imports and an increase of 20.5 percent from the July 2017 import value of $1.93 billion.

Imports from European Union member countries amounted to $874.57 million. It rose by 78.9 percent from the July 2017 value of $488.75 million.  (Table 10)

1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan

2/ - includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam

3/ - includes Alaska and Hawaii

4/ - includes Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia,  Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and UK Great Britain

 

 

 

Undersecretary

National Statistician and Civil Registrar General

 

 

 

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