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Release Date :
Reference Number :
2021-332

Table A Trade June 2021

A. TOTAL EXTERNAL TRADE AND BALANCE OF TRADE

1. Total external trade increased

The country’s total external trade in goods in June 2021, which amounted to USD 15.84 billion, grew at an annual rate of 26.8 percent. In the previous month, the annual increase was recorded at 44.8 percent, while in June 2020, the decline was -16.4 percent. (Table A)

Of the total external trade in June 2021, 58.9 percent were imported goods, while the rest were exported goods.

2. Trade deficit posted an annual increase

Balance of trade in goods (BoT-G) is the difference between the value of export and import. BoT-G in June 2021 amounted to USD -2.83 billion, representing a trade deficit with an annual increase of 98.5 percent. The trade deficit in the previous month recorded an annual increase of 141.4 percent, while in June 2020, it was at -46.0 percent. (Figure 1, and Tables A and 2)

Figure 1 Trade June 2021

B. EXPORTS

1. Sales from export posted a positive growth

The country’s total export sales in June 2021, amounting to USD 6.51 billion, increased at an annual rate of 17.6 percent, from an increase of 30.8 percent in the previous month. In June 2020, total export sales declined at an annual rate of -10.1 percent. (Figure 2, and Tables A and 2)

Figure 2 Trade June 2021

Of the top 10 major commodity groups in terms of the value of exports, nine recorded annual increases led by cathodes & sections of cathodes, of refined copper (161.1%). This was followed by ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (53.4%), and other manufactured goods (40.5%). (Tables B and 3)

Table B Trade June 2021

2. Year-to-date total export increased

The cumulative export earnings from January to June 2021 amounted to USD 35.90 billion, a 20.9 percent increase from the export value earned from January to June 2020. (Table 4)

3. Electronic products commodity group remained the highest on export sales

By commodity group, electronic products continued to be the country’s top export in June 2021 with total earnings of USD 3.72 billion. This amount accounted for 57.1 percent of the total exports during the period. This was followed by other manufactured goods with an export value of USD 404.44 million (6.2%); and export of cathodes & sections of cathodes, of refined copper which amounted to USD 259.78 million (4.0%). (Figure 3 and Table 3)

Figure 3 Trade June 2021

 

4. Manufactured goods still comprised the biggest chunk of total exports among major types of goods

By major type of goods, exports of manufactured goods shared the biggest to the total exports in June 2021 amounting to USD 5.43 billion (83.5%). This was followed by mineral products with a share of USD 523.16 million (8.0%); and total agro-based products which contributed USD 366.35 million (5.6%). (Figure 4 and Table 5)

Figure 4 Trade June 2021

 

5. Total export value of Personal Protective Equipment (PPE) and medical supplies decreased in June 2021

The total export value for Personal Protective Equipment (PPE) and medical supplies in June 2021 dropped to USD 0.58 million. This represents an annual decrease of -74.4 percent from its value in June 2020.

The annual decrease in the export value for these medical items in the previous month was recorded at -93.1 percent, while in June 2020, the increase was significantly higher at 2,326.9 percent.

The annual decrement noted in the export of surgical face mask at -93.1 percent, protective clothing at -92.9 percent, and other face mask (non-surgical/non-medical masks including masks made of cloth) at -46.5 percent, contributed to the decrease of export value for PPE and medical supplies in June 2021.

Month-on-month, export value for PPE and medical supplies decreased by -64.2 percent in June 2021, while in May 2021, it declined by -41.1 percent.

Contributing to the monthly decrease in the export value of PPE and medical supplies were protective clothing with a month-on-month decrease of -89.4 percent, surgical face mask (-77.0%), and other face mask (non-surgical/non-medical masks including masks made of cloth) (-59.7%). (Tables C and 5a)
 

Table C Trade June 2021

6. United States of America contributed the highest export value

By major trading partner, exports to the United States of America (USA) comprised the highest export value amounting to USD 1.09 billion or a share of 16.8 percent to the total exports during the month.

Completing the top five major export trading partners with their export values and percent shares to the total exports were:

a. People’s Republic of China, USD 1.06 billion (16.2%);
b. Japan, USD 966.51 million (14.9%);
c. Hong Kong, USD 907.40 million (13.9%); and
d. Singapore, USD 320.83 million (4.9%). (Figure 5 and Table 7)
 

Figure 5 Trade June 2021

7. Majority of exports were for APEC countries

By economic bloc, majority of the country’s merchandise exports in June 2021 went to the Asia-Pacific Economic Cooperation (APEC) member countries with a share of USD 5.56 billion (85.5%). This was followed by East Asia, valued at USD 3.35 billion (51.5%), and the Association of Southeast Asian Nations (ASEAN) which amounted to USD 977.70 million (15.0%). (Figure 6 and Table 8)

Figure 6 Trade June 2021

8. Eastern Asia contributed the highest export value by geographic region

By geographic region, Eastern Asia comprised the highest export value amounting to USD 3.35 billion in June 2021. This was followed by Northern America with an export value of USD 1.13 billion and South-eastern Asia with USD 977.71 million. (Figure 7)
 

Figure 7 Trade June 2021

C. IMPORTS

1. Import value increased

Total imported goods in June 2021, which amounted to USD 9.33 billion, increased at an annual rate of 34.2 percent.  In May 2021, the annual increase was higher at 55.6 percent, while in June 2020, imports decreased by -20.8 percent annually (Figures 1 and 8, and Table A)

Figure 8 Trade June 2021

The annual increment of imported goods in June 2021 was due to the increase in nine of the top 10 major commodity groups which was led by mineral fuels, lubricants and related materials with 131.8 percent increase. This was followed by transport equipment (129.5%); and iron and steel (120.4%). (Tables D and 9)

Table D Trade June 2021

2. Year-to-date total import value increased

The cumulative import value from January to June 2021 amounted to USD 53.34 billion, representing an increment of 29.8 percent from the import value of USD 41.08 billion in the same period of 2020.  (Table 10)

3. Electronic products accounted for the highest import value among commodity groups

Most of the imported goods were electronic products with an import value of USD 2.49 billion or a share of 26.7 percent to the total imports in June 2021.  This was followed by mineral fuels, lubricants and related materials, valued at USD 1.20 billion (12.8%); and transport equipment which amounted to USD 654.66 million (7.0%). (Figure 9 and Table 9)
 

Figure 9 Trade June 2021

4. Imports of raw materials and intermediate goods contributed the highest among types of goods

By major type of goods, imports of raw materials and intermediate goods accounted for the largest share of USD 3.81 billion (40.8%) to the total imports in June 2021. Imports of capital goods ranked second with a share of USD 2.80 billion (30.0%), followed by consumer goods with USD 1.46 billion (15.7%). (Figure 10 and Table 11)
 

Figure 10 Trade June 2021

5. Total import value of Personal Protective Equipment (PPE) and medical supplies including COVID-19 vaccine increased in June 2021

The total import value for Personal Protective Equipment (PPE) and medical supplies, including COVID-19 vaccine, in June 2021 increased to USD 71.96 million, indicating an annual increment of 103.4 percent from its value in the same month of the previous year.

In June 2021, the total import of the COVID-19 vaccine was valued at USD 43.49 million.

Annual growth of import value for these medical items was recorded at 115.2 percent in the previous month, while in June 2020, the annual increase was noted at 1,076.4 percent.

The annual increments noted in the following items have increased the total import value for PPE and medical supplies during the period:

a. surgical gloves (345.7%);
b. testing kits (46.9%); and
c. safety headgear (29.4%).

Meanwhile, import value decreased year-on-year for protective clothing (-97.7%), face shield (-89.3%), other face mask (non-surgical/non-medical masks including masks made of cloth) (-61.7%), and surgical face mask (-45.2%).

Month-on-month, import value for PPE and medical supplies including COVID-19 vaccine decreased by -0.7 percent in June 2021, while in the previous month, it registered an increase of 38.2 percent.

Contributing to the monthly decrease in the import value of PPE and medical supplies, including COVID-19 vaccine were protective clothing with a month-on-month decrease of -92.9 percent, face shield (-79.9%), other face mask (non-surgical/non-medical masks including masks made of cloth) (-52.2%), surgical gloves (-28.4%), surgical face mask (-21.2%), and safety headgear (-8.1%). On the other hand, import values increased month-on-month for testing kits by 29.2 percent, and COVID-19 vaccine by 0.9 percent. (Tables E and 11a)

Table E Trade June 2021

6. People’s Republic of China had the highest import value

The People’s Republic of China was the country’s biggest supplier of imported goods valued at USD 2.25 billion or 24.1 percent of the total imports in June 2021.

Completing the top five major import trading partners with their corresponding import value and percent share to the total imports were:

a. Japan, USD 872.79 million (9.4%);
b. Republic of Korea, USD 681.89 million (7.3%);
c. USA, USD 619.01 million (6.6%); and
d. Indonesia, USD 608.97 million (6.5%). (Figure 11 and Table 13)

Figure 11 Trade June 2021

7. Imports came largely from APEC member countries

By economic bloc, APEC member countries were the biggest suppliers of the country’s imported goods in June 2021 with a share of USD 7.89 billion (84.5%). This was followed by East Asia with an import value of USD 4.49 billion (48.1%), and ASEAN with USD 2.48 billion (26.6%). (Figure 12 and Table 14)

Figure 12 Trade June 2021

8. Eastern Asia contributed the highest import value by geographic region

By geographic region, USD 4.49 billion of the country’s imports in June 2021 were from Eastern Asia. This was followed by South-eastern Asia whose import value amounted to USD 2.48 billion and Northern America valued at USD 668.40 million. (Figure 13)
 

Figure 13 Trade June 2021

 

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 following are documents collected, either in electronic or hard copies:

  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) for ED and IEIRD.

The electronic copies of all documents that pass thru the online system are provided by BOC, Philippine Economic Zone Authority (PEZA), and Value Added Service Providers (VASPs) to PSA on a monthly basis through email and via shared google drive.

The electronic copies of the Export Declarations (SAD-ED) from the Automated Export Documentation System (AEDS) of the BOC are being utilized to generate export statistics. The AEDS is a paperless transaction in lieu of the manual filling up of export documents.

Moreover, an electronic copy of the Import Entry and Internal Revenue Declaration (SAD-IEIRD) is utilized to capture the monthly import figures. The SAD-IEIRD is an import document submitted online 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 electronic 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 (PRs). Processing includes coding, editing, reviewing, and validating of results.

Preliminary results of export and import statistics are disseminated in the form of PR. The PR is disseminated every 40th day after the reference month. However, if the 40th day falls on a Saturday, the release is made a day earlier (Friday). If it falls on a Sunday or Monday, the release is on Tuesday. Moreover, if the release date falls on a holiday, the date of 
release is moved accordingly. Preliminary results are posted on the PSA website (www.psa.gov.ph).

All documents received after the cut-off date are included in the generation of the revised results.  The revised data of the previous month are reported during the release of the preliminary report of the current month. Revisions are made for the previous months until the annual report is released three months after the reference year.

The 2015 and 2019 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 the PSA, Economic Sector Statistics Service, Trade Statistics Division with telephone number (02) 8376-1975 or email address j.soliven@psa.gov.ph.

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