Highlights of the Philippine Export and Import Statistics : March 2019

Reference Number: 

2019-079

Release Date: 

Wednesday, May 8, 2019

 

 

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

MARCH 2019 (Preliminary)

 

 

Exports

Imports

March 2019 p

March 2018 r

March 2019 p

March 2018 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

5,876.43

6,024.47

9,013.94

8,364.28

        Year-on-Year Growth (Percent)

-2.5

0.4

7.8

3.2

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

3,230.83

3,354.18

2,394.15

2,248.58

        Year-on-Year Growth (Percent)

-3.7

8.4

6.5

7.1

 

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

Gainers

Losers

Bananas (Fresh)
81.5 
Machinery and Transport Equipment
 -10.2
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
20.3 
Other Manufactured Goods
  -8.1
Other Mineral Products
 13.6 
Electronic Products
-3.7
Gold
12.6
Metal Components
  -1.2
Chemicals
 5.9 
 
    
Cathodes & Sections Of Cathodes, Of Refined Copper
2.0    
 
 
Top 10 Philippine Imports from All Countries: March 2019 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Cereals and Cereal Preparations
 97.9
Mineral Fuels, Lubricants and Related Materials
-12.6
Miscellaneous Manufactured Articles
 43.5
Iron and Steel
-8.5
Telecommunication Equipment and Electrical Machinery
 37.2
Transport Equipment
-4.6
Other Food and Live Animals
33.5
 
 
Plastic in Primary and Non-Primary Forms
14.2
 
    
Industrial Machinery and Equipment
11.1    
Electronic Products
6.5    
    p - preliminary
    r - revised
 
 
Figure 1
 

1. Total trade sums up to $14.89 billion

The country’s total external trade in goods in March 2019 amounted to $14.89 billion, reflecting an increment of 3.5 percent from the $14.39 billion in the same month of the previous year. Of the total external trade, $5.88 billion or 39.5 percent were exported goods and $9.01 billion or 60.5 percent were imported goods.

Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $3.14 billion deficit in March 2019, from $2.34 billion deficit in March 2018. (Tables 1, 2 and 3)

 
Figure 2
 

2. Exports decrease by 2.5 percent while imports increase by 7.8 percent

The country’s total export sales in March 2019 was $5.88 billion, indicating a decrement of 2.5 percent, from the $6.02 billion total export sales in March 2018. This was due to the decreases in export sales of the four of the top 10 major export commodities, namely, machinery and transport equipment (-10.2%); other manufactured goods (-8.1%); electronic products (-3.7%); and metal components (-1.2%).  (Table 2)

On the other hand, total imported goods in March 2019 went up by 7.8 percent, from $8.36 billion in March 2018 to $9.01 billion in March 2019. The increment was due to the positive growth in seven of the top 10 major import commodities. These were cereals and cereal preparations (97.9%); miscellaneous manufactured articles (43.5%); telecommunication equipment and electrical machinery (37.2%); other food and live animals (33.5%); plastics in primary and non-primary forms (14.2%);  industrial machinery and equipment (11.1%); and electronic products (6.5%). (Table 3)

3. Exports of electronic products decrease by 3.7 percent

Total receipts from the top 10 major exports amounted to $4.82 billion or a share of 82.0 percent to the total export. It slightly decreased by 0.6 percent from the March 2018 export value of $4.85 billion. (Table 2)

Electronic Products continued to be the country’s top export with total earnings of $3.23 billion. This amount, which accounted for 55.0 percent of the total exports’ revenue in March 2019, posted a decrement of 3.7 percent from the $3.35 billion export receipt in the same month of the previous year. Components/Devices (Semiconductors) accounted for the biggest share of 39.5 percent, among the electronic products.  It slid by 3.1 percent, from $2.40 billion in March 2018 to $2.32 billion in March 2019.

Other Manufactured Goods came second with $329.33 million earnings or a 5.6 percent share to the total export receipts in March 2019.  Export of this commodity declined by 8.1 percent from the previous year’s export value of $358.49 million.

Machinery and Transport Equipment ranked third with a total export payment of $249.92 million or 4.3 percent of the total.  Export of this commodity contracted by 10.2 percent, from $278.30 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 $195.01 million or a share of 3.3 percent.  Export receipts from this commodity group went up by 20.3 percent, from the $162.13 million recorded in March 2018. 

Bananas (Fresh) placed fifth, with $186.89 million or a share of 3.2 percent to total export earnings in March 2019.  It expanded by 81.5 percent from an export value of $102.99 million in March 2018.

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

Cathodes and Sections of Cathodes, of Refined Copper with $142.81 million, which increased by 2.0 percent;
Chemicals with $130.33 million, which grew by 5.9 percent;
Metal Components with $124.11 million, which decreased by 1.2 percent;
Gold with $120.91 million, which rose by 12.6 percent; and
Other Mineral Products with $106.18 million, which went up by 13.6 percent.

 

Figure 3
 

4. Electronic products commodity group share 26.6 percent of total import bill

Total import bills for the country’s top 10 imports in March 2019 reached to $6.52 billion, an increase of 5.9 percent from the March 2018 import value of $6.16 billion.  (Table 3)

Import payment of Electronic Products, valued at $2.39 billion, accounted for the highest share of 26.6 percent to the total imports. Import of this commodity group rose by 6.5 percent from the $2.25 billion posted in March 2018. Among the electronic products, Components/Devices (Semiconductors) accounted for the biggest contribution of 17.5 percent.  It dropped by 2.0 percent, from $1.61 billion in March 2018 to $1.58 billion in March 2019.

Mineral Fuels, Lubricants and Related Materials ranked second, with import bill amounting to $1.09 billion or 12.1 percent of the total import value. It slid by 12.6 percent from the March 2018 value of $1.25 billion.

Transport Equipment came third, with imports valued at $720.20 million or 8.0 percent of the total import value. Import of this commodity contracted by 4.6 percent from the March 2018 value of $754.89 million.

Industrial Machinery and Equipment placed fourth, with imports valued at $562.27 million or a share of 6.2 percent. Imports of this commodity went up by 11.1 percent over the March 2018 value of $505.88 million.

Imports of Iron and Steel ranked fifth, with a value of $414.05 million or a share of 4.6 percent. Import of this commodity decreased by 8.5 percent from the $452.55 million in March 2018.

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

  • Other Food and Live Animals, $317.99 million which rose by 33.5 percent;
  • Cereals and Cereal Preparations, $274.90 million which expanded by 97.9 percent;
  • Telecommunication Equipment and Electrical Machinery, $256.76 million which increased by 37.2 percent;
  • Miscellaneous Manufactured Articles, $255.08 million which went up by 43.5 percent; and
  • Plastics in Primary and Non-Primary Forms, $235.04 million which increased by 14.2 percent.
 
Figure 4
 

5. Exports of manufactured goods drop by 3.8 percent

Exports of Manufactured Goods, representing 82.5 percent of the total exports, were valued at $4.85 billion in March 2019. It  declined  by 3.8 percent from the $5.04 billion export value in March 2018. (Table 4)

Total Agro-Based Products exports amounting to $436.42 million or a share of 7.4 percent, grew by 5.4 percent in March 2019.

Exports of Mineral Products, valued at $407.79 million or a share of 6.9 percent, grew by 8.1 percent in March 2019.

Merchandise exports of Special Transactions, amounting to $136.31 million or 2.3 percent of the total export revenue, increased by 14.0 percent in March 2019, from its previous year’s value of $119.55 million.

Exports of Forest Products, amounting to $30.81 million or a share of 0.5 percent, went up by 24.0 percent in March 2019.

Petroleum Products, with $17.11 million or 0.3 percent share, went down by 66.9 percent, from $51.62 million in the same month of the previous year.

 
Figure 5
 

6. Imports of raw materials and intermediate goods account for 38.5 percent of total import value

By major type of goods, imports of Raw Materials and Intermediate Goods posted the largest contribution of 38.5 percent to the total import value. It rose by 5.5 percent, from $3.29 billion in March 2018 to $3.47 billion in March 2019.  Semi-Processed Raw Materials contributed $3.17 billion or 35.2 percent to the total imports.  Import of this commodity went up by 4.4 percent from the import value of $3.04 billion in March 2018. (Table 5)
 
Imports of Capital Goods, valued at $2.89 billion, shared 32.1 percent to total imports in March 2019.  It increased by 13.2 percent from the March 2018 import value of $2.56 billion.
 
Imports of Consumer Goods, worth $1.49 billion, had a share of 16.5 percent to the total imports in March 2019.  It expanded by 21.4 percent from the $1.22 billion registered value in March 2018.
 
Imports of Mineral Fuels, Lubricants and Related Materials, which contributed 12.1 percent to total imports, decreased by 12.6 percent, from $1.25 billion in March 2018 to $1.09 billion in March 2019.  Petroleum Crude, valued at $436.46 million, comprised a share of 4.8 percent to total imports.
 
Special Transactions imports with a 0.8 percent share to total imports, expanded by 66.4 percent, from $43.58 million in March 2018 to $72.51 million in March 2019.
 
 
Figure 6
 

7. Exports to USA account for 15.4 percent

Total exports receipt recorded by the country’s top 10 market destinations in March 2019 reached $4.84 billion or 82.3 percent of the total exports. (Table 6)
United States of America (USA), including Alaska and Hawaii, ranked first with an export value of $906.33 million or a share of 15.4 percent to the total exports in March 2019.  Exports to this country contracted by 3.1 percent, from the $934.85 million in March 2018.
 
Japan, including Okinawa, placed second with an export value of $892.20 million or 15.2 percent of the total exports in March 2019.  Total exports to Japan went down by 1.2 percent, from the $902.68 million posted in March 2018.
 
Hong Kong came third, with export shipments valued at $829.02 million or a share of 14.1 percent.  Exports to this country declined by 6.0 percent, from the $882.16 million recorded in March 2018.
 
People’s Republic of China ranked fourth, with $732.15 million or 12.5 percent of the total exports.  This amount decreased by 2.2 percent, from an export value of $748.65 million posted in March 2018.
 
Singapore, which placed fifth, comprised $322.68 million or a 5.5 percent of the total export. Outbound shipments to this country dropped by 11.6 percent, from the $364.93 million in the same month of the previous year.
 
Completing the top 10 market destinations in March 2019 were Republic of Korea, $291.17 million; Thailand, $259.64 million; Germany, $228.29 million; Taiwan, $216.63 million; and Netherlands, $159.46 million.  (Table 6)
 
Figure 7
 

8.  Imports from People’s Republic of China account for 21.4 percent

Import payments from the top 10 countries amounted to $6.85 billion or a share of 76.0 percent to the total imports in March 2019. (Table 7)
People’s Republic of China was the country’s biggest supplier of imported goods with 21.4 percent share to total imports in March 2019. Import bills from this country reached     $1.92 billion, from $1.28 billion in March 2018.
Japan, including Okinawa, ranked second, with an import value of $882.87 million or a share of 9.8 percent to total import in March 2019. This recorded a decrease of 3.8 percent from the March 2018 value of $917.32 million.   
United States of America (includes Alaska and Hawaii) ranked third, with a 7.9 percent share to the total import bills in March 2019.  Its total import payments rose by 12.2 percent, from $634.81 million in March 2018 to $712.43 million in March 2019.
Republic of Korea placed fourth with an import value of $701.86 million in March 2019 or a share of 7.8 percent. Imports from this country dropped by 16.3 percent, from $838.72 million in March 2018. 
Thailand came fifth with imports valued at $551.71 million in March 2019 or a share of 6.1 percent. Import bills from this country decreased by 5.9 percent, from $586.57 million in March 2018.

Completing the list of major sources of imports for the month of March 2019 were Singapore, $525.78 million; Indonesia, $515.01 million; Taiwan,  $380.01 million; Vietnam, $337.61 million; and Malaysia (includes Sabah and Sarawak), $315.33 million. (Table7)

 
Figure 8
 

9. Exports to countries in East Asia comprise 50.4 percent

By economic bloc, majority of the country’s merchandise exports in March 2019, which comprised 50.4 percent of total exports or $2.96 billion, went to countries in East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan).  This amount went down by 0.4 percent, from $2.98 billion in March 2018. (Table 9)
Exports to the ASEAN Member Countries worth $966.10 million, comprised 16.4 percent of the total merchandise exports. This amount increased by 2.7 percent from the recorded value of $941.15 million in March 2019.
Total exports to the USA, valued at $906.33 million, had a share of 15.4 percent of the total merchandise exports. It slid by 3.1 percent from the recorded value of $934.85 million in March 2018. (Table 9)
 
 
Figure 9
 

10. Imports from countries in EAST ASIA account for 46.1 percent

By economic bloc, East Asia was the biggest supplier of the country’s imports in March 2019, amounting to $4.15 billion or 46.1 percent of the total imports.  This amount increased by 12.3 percent, from $3.70 billion in March 2018. 

Commodities imported from ASEAN member countries amounted to $2.26 billion. This amount, which comprised 25.1 percent of the total imports, recorded an increase of 4.6  percent from the March 2018 import value of $2.16 billion.

Imports from United States of America registered a value of $712.43 million in March 2019. It went up by 12.2 percent from the March 2018 value of $634.81 million. (Table 10)

 
Figure 10
 
 
 
 
 
 
 

          (Sgd.) JOSIE B. PEREZ
                     Assistant Secretary
                     Officer-in-Charge

 

 

 

 
 

 

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.  The PSA collects regularly these documents which are as follows:

  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 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: 376-19-75 or email at j.soliven@psa.gov.ph).

 

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