Highlights of the Philippine Export and Import Statistics : November 2018

Reference Number: 

2019-005

Release Date: 

Thursday, January 10, 2019

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

NOVEMBER 2018 (Preliminary)

 

 

Exports

Imports

November 2018 p

November 2017 r

November 2018 p

November 2017 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

5,568.79

5,582.90

9,469.40

8,862.53

        Year-on-Year Growth (Percent)

-0.3

14.2

6.8

20.1

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

3,155.51

3,207.47

2,556.58

2,461.53

        Year-on-Year Growth (Percent)

-1.6

25.4

3.9

25.4

 

Top 10 Philippine Exports to All Countries: November 2018 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Bananas (Fresh)
100.4  
Chemicals
 -16.9 
Machinery and Transport Equipment
80.3 
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ship
-14.9 
Miscellaneous Manufactured Articles
 35.5  
 Electronic Products
-1.6
Other Mineral Products
14.2 
Coconut Oil
  -1.3  
Metal Components
  6.5  
 
    
Other Manufactured Goods
 5.7 
 
    
 
Top 10 Philippine Imports from All Countries: November 2018 p
(Year-on-Year Growth in Percent)

Gainers

Cereals and Cereal Preparations
113.5
Mineral Fuels, Lubricants and Related Materials 34.1
Iron and Steel
24.9
Other Food and Live Animals
19.9
Plastics in Primary and Non-primary Form
12.5
Industrial Machinery and Equipment
10.5
Telecommunication Equipment and Electrical Machinery
4.5
Miscellaneous Manufactured Articles
4.4
Electronic Products 3.9
Transport Equipment
0.2
    p - preliminary
    r - revised
 
 
 
Figure  1
 

1. TOTAL TRADE SUMS UP TO $15.04 BILLION

The country’s total external trade in goods in November 2018 reached $15.04 billion, reflecting an increase of 4.1 percent from $14.45 billion recorded value during the same month of the previous year. The total exports were valued at $5.57 billion in November 2018, representing a decrease of 0.3 percent, from $5.58 billion in November 2017.

On the other hand, total imports rose to $9.47 billion in November 2018, from $8.86 billion in November 2017 or a growth rate of 6.8 percent.  Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $3.90 billion deficit in November 2018, from $3.28 billion deficit in November 2017.  (Tables 1, 2 and 3)

 
Figure  2
 

2. EXPORTS DECREASE BY 0.3 PERCENT WHILE IMPORTS GROW BY 6.8 PERCENT

The country’s total export sales posted a decrease of 0.3 percent, from $5.58 billion in November 2017 to $5.57 billion in November 2018. This was due to the decreases in export sales of the four of the top 10 commodities, namely, chemicals (-16.9%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-14.9%); electronic products (-1.6%); and coconut oil (-1.3%). (Table 2)

On the other hand, total imported goods for the month of November 2018 amounted to $9.47 billion or a growth of 6.8 percent from the $8.86 billion total import in November 2017. The increase was due to the positive growth manifested by the top 10 major import commodities. These were the following: cereals and cereal preparations (113.5%); mineral fuels, lubricants and related materials (34.1%); iron and steel (24.9%); other food and live animals (19.9%); plastics in primary and non-primary forms (12.5%); industrial machinery and equipment (10.5%); telecommunication equipment and electrical machinery (4.5%); miscellaneous manufactured articles  (4.4%); electronic products (3.9%); and transport equipment (0.2%). (Table 3) 

 

3. EXPORTS OF ELECTRONIC PRODUCTS DECREASE BY 1.6 PERCENT

Electronic Products continued to be the country’s top export with total earnings of $3.16 billion. This amount, which accounted for 56.7 percent of the total exports’ revenue in November 2018, decreased by 1.6 percent, from $3.21 billion export receipts in the same month of the previous year.  Components/Devices (Semiconductors) comprised the biggest share of 42.5 percent among electronic products.  It posted a decrease of 2.5 percent, from $2.43 billion in November 2017 to $2.36 billion in November 2018.

Other Manufactured Goods ranked second with $310.67 million or 5.6 percent of the total export receipts. Export of this commodity increased by 5.7 percent, from the $293.81 million export revenue posted in the same month of the previous year.

Machinery and Transport Equipment was the third top export earner with revenue of $276.94 million or a share of 5.0 percent. Export sales of this commodity group went up by 80.3 percent, from $153.59 million recorded in November 2017. 

Bananas (Fresh) placed fourth with $156.27 million earnings or a 2.8 percent share to the total export receipts in November 2018.  Export of this commodity grew by
100.4 percent from the previous year’s value of $77.99 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fifth with $151.33 million or a share of 2.7 percent to total export earnings in November 2018. It went down by 14.9 percent from an export value of $177.90 million in November 2017.

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

  • Coconut oil with $121.85 million, which went down by 1.3 percent;
  • Metal Components with $120.17 million, which grew by 6.5 percent;
  • Chemicals with $102.59 million, which declined by 16.9 percent;
  • Miscellaneous manufactured articles with $100.76 million, which increased by 35.5 percent;
  • Other mineral products with $81.70 million, which went up by 14.2 percent.

Total receipts from the top 10 major exports amounted to $4.58 billion or a share of 82.2 percent of the total export.  This recorded an increase of 3.7 percent from the November 2017 export value of $4.42 billion. (Table 2)

 
Figure 3
 
 

4. ELECTRONIC PRODUCTS COMMODITY GROUP ACCOUNTS FOR 27.0 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top 10 imports for November 2018 amounted to $7.10 billion, an increase of 12.5 percent over the November 2017 import value of $6.31 billion.  (Table 3)

Import bill of Electronic Products in November 2018 accounted for the highest total imports with a share of 27.0 percent to the total imports valued at $2.56 billion. Import of this commodity group expanded by 3.9 percent from the $2.46 billion posted in November 2017. Among electronic products, Components/Devices (Semiconductors) reflected the biggest share of 18.6 percent.  It increased by 3.5 percent, from $1.70 billion in November 2017 to $1.76 billion in November 2018.

Mineral Fuels, Lubricants and Related Materials came second with import value reaching $1.21 billion or 12.7 percent share to total import value.  This commodity went up by 34.1 percent from the November 2017 import value of $899.96 million.

Transport Equipment ranked third with import bill amounting to $951.04 million or 10.0 percent share to total import value. It rose by 0.2 percent from the November 2017 value of $948.69 million.
Industrial Machinery and Equipment placed fourth with imports valued at $532.09 million or a share of 5.6 percent. Imports of this commodity expanded by 10.5 percent over the November 2017 value of $481.71 million.

Imports of Iron and Steel, valued at $449.73 million in November 2018 or a percent share of 4.7 percent, ranked fifth. Import of this commodity went up by 24.9 percent from $360.09 million in November 2017.

Completing the list of the top 10 imports for November 2018 were:

  • Other Food and Live Animals, $346.28 million which rose by 19.9 percent;
  • Miscellaneous Manufactured Articles, $329.79 million which increased by 4.4 percent;
  • Cereals and Cereal Preparations, $263.53 million which went up by 113.5 percent;
  • Telecommunication Equipment and Electrical Machinery, $240.31 million which increased by 4.5 percent; and
  • Plastics in Primary and Non-Primary forms, $228.77 million which grew by 12.5 percent.
Figure 4
 

5. EXPORTS OF MANUFACTURED GOODS INCREASE BY 1.0 PERCENT

Exports of Manufactured Goods, comprising 84.0 percent of total exports, were valued at $4.68 billion in November 2018 (Table 4).  This amount increased by 1.0 percent compared to the $4.63 billion export value in November 2017.

Total Agro-Based Products, with a share of 7.7 percent or $427.63 million, went up by 12.5 percent in November 2018.

Exports from Mineral Products, with a value of $244.90 million or a share of 4.4 percent, declined by 34.4 percent in November 2018.

Merchandise exports from Special Transactions, with a value of $156.36 million or a share of 2.8 percent to the total export revenue, increased by 27.8 percent in November 2018 from the previous year’s figure of $122.33 million.

Petroleum Products, with 0.7 percent share or $36.91 million, decreased by 16.6 percent from $44.25 million in the same month of previous year.

Exports of Forest Products, accounting for 0.5 percent share to the total exports or a value of $25.56 million, declined by 13.3 percent in November 2018.

 
Figure  5
 

6. IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS SHARE 38.6 PERCENT OF THE TOTAL IMPORT VALUE

By major type of goods, imports of Raw Materials and Intermediate Goods contributed the largest share of 38.6 percent to total import value. It increased by 6.7 percent, from $3.43 billion in November 2017 to $3.65 billion in November 2018.  Semi-Processed Raw Materials had a share amounting to $3.21 billion or 33.9 percent of total imports for this commodity group.  Import of this commodity grew by 4.8 percent from the $3.07 billion posted value in November 2017. (Table 5)
 
Imports of Capital Goods with value of $3.02 billion, accounted for 31.9 percent in November 2018.  It went up by 4.9 percent from the November 2017 import value of $2.88 billion.
 
Imports of Consumer Goods, amounting to $1.55 billion, contributed 16.3 percent to the total imports in November 2018.  It decreased by 3.8 percent from the $1.61 billion registered value in November 2017.
 
Imports of Mineral Fuels, Lubricants and Related Materials, comprising 12.7 percent of total imports, posted an increment of 34.1 percent, from $899.96 million in November 2017 to $1.21 billion in November 2018.  Other Mineral Fuels, Lubricants and Related Materials, valued at $528.28 million, accounted for the largest share of 5.6 percent to total imports of this commodity group.
 
Moreover, imports of Special Transactions with a 0.5 percent share to total export, registered a decrease of 14.3 percent, from $51.96 million in November 2017 to $44.53 million in November 2018.
 
Figure  6
 

7. EXPORTS TO UNITED STATES OF AMERICA COMPRISE 16.0 PERCENT

Total exports receipt recorded by the country’s top 10 market destinations for November 2018 reached $4.58 billion or 82.2 percent of the total exports. (Table 6)
 
United States of America (USA), including Alaska and Hawaii, ranked first with exports valued at $893.20 million or 16.0 percent of the total exports for November 2018.  Total exports for USA grew by 12.6 percent, from $793.46 million value posted in November 2017.
 
Japan, including Okinawa, placed second with an export value of $819.07 million or a share of 14.7 percent to total exports in November 2018.  Exports to this country represented a decrease of 1.3 percent, from $829.92 million in November 2017.
 
Hong Kong came third with export shipments valued at $729.01 million or a share of 13.1 percent.  Exports to this country went down by 15.2 percent, from $859.78 million recorded in November 2017.
 
People’s Republic of China placed fourth with $686.57 million or 12.3 percent of the total exports.  This went up by 1.8 percent from an export value of $674.30 million posted in November 2017.
 
Republic of Korea, contributing a 5.8 percent share to total exports or an export value of $321.80 million, ranked fifth.  Outbound shipments to this country increased by 47.8 percent from $217.72 million posted in the same month of the previous year.
 
Completing the top 10 market destinations for November 2018 were: Singapore, $306.44 million; Thailand, $212.73 million; Netherlands, $207.76 million; Germany, $204.31 million; and Malaysia (includes Sabah and Sarawak), $195.77 million.  (Table 6)
 
Figure 7
 
 

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNT FOR 18.7 PERCENT

Import bills from the top 10 countries amounted to $7.06 billion or a share of 74.5 percent of the total imports in November 2018. (Table 7)
 
People’s Republic of China was the country’s biggest supplier of imports with 18.7 percent share in November 2018. Import bills to this country registered an amount of $1.77 billion or an increase of 4.3 percent, from $1.69 billion in November 2017.
 
Republic of Korea, which placed second, contributed 10.9 percent or an import value of $1.03 billion in November 2018. This recorded an increase of 13.5 percent from the November 2017 value amounting to $907.60 million.   
 
Japan, including Okinawa, ranked third with an import value of $903.28 million in November 2018 or a share of 9.5 percent. Imports from this country went down by 4.6 percent, from $946.39 million in November 2017. 
 
United States of America (includes Alaska and Hawaii) placed fourth with a 6.6 percent share to the total import bills in November 2018.  Its total import bills rose by 7.2 percent, from $580.91 million in November 2017 to $622.75 million in November 2018.
 
Thailand came fifth with imports valued at $599.71 million in November 2018 or a share of 6.3 percent. Import bills from this country decreased by 3.2 percent from $619.82 million in November 2017. 
 
Completing the list of major sources of imports for the month of November 2018 were: Indonesia, $543.36 million; Singapore, $496.13 million; Taiwan, $476.91 million; Malaysia (includes Sabah and Sarawak), $322.44 million; and Vietnam, $295.65 million. (Table 7)
 
Figure  8
 
 

9. EXPORTS TO COUNTRIES IN EAST ASIA COMPRISE 49.4 PERCENT

By economic bloc, the bulk of the country’s merchandise exports in November 2018, which comprised 49.4 percent of total exports or $2.75 billion, went to countries in East Asia.  This amount decreased by 1.7 percent, from $2.80 billion in November 2017. (Table 9)
 
Commodities exported to United States of America accounted for 16.0 percent of the total exports in November 2018 or a value of $893.20 million.  Exports to this economic bloc increased by 12.6 percent, from the $793.46 million posted in the same month of the previous year.
 
Total exports to ASEAN were valued at $883.26 million or a share of 15.9 percent of total merchandise exports. This went down by 5.7 percent from the recorded value of $937.09 million in November 2017. (Table 9)
 
Figure  9
 

10. IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 47.2 PERCENT

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 November 2018 amounting to $4.47 billion, or a 47.2 percent share to the total imports.  This amount rose to 3.9 percent from $4.30 billion in November 2017. 

Commodities imported from ASEAN member countries reached $2.26 billion.  It contributed 23.9 percent to the total imports and a decrease of 4.8 percent from the November 2017 import value of $2.38 billion.

Imports from European Union member countries registered a value of $692.23 million in November 2018. It increased by 28.4 percent from the November 2017 value of $538.96 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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