1.     TOTAL TRADE SUMS UP TO $15.58 BILLION

The country’s total external trade in goods in September 2018 amounted to $15.58 billion, reflecting an increase of 13.5 percent from $13.72 billion recorded during the same month in 2017. Total exports valued at $5.83 billion in September 2018 declined by 2.6 percent, from $5.99 billion in September 2017.

On the other hand, total imports rose to $9.75 billion in September 2018 from $7.77 billion in September 2017 or a growth rate of 26.1 percent.  Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $3.93 billion deficit in September 2018, from the $1.75 billion deficit in September 2017.  (Tables 1, 2 and 3)

2.     EXPORTS DECLINE BY 2.6 PERCENT WHILE IMPORTS GROW BY 26.1 PERCENT

The country’s total export sales posted a decrease of 2.6 percent from $5.99 billion in September 2017 to $5.83 billion in September 2018. This was due to the decreases reflected  by six out of the top 10 commodities led by exports of coconut oil (-36.4%); machinery and transport equipment (-30.4%); ignition wiring set and other wiring set used in vehicles, aircrafts and ships (-4.6%); other manufactured goods (-4.2%); gold (-2.0%); and electronic equipment and parts (-0.6%). (Table 2)

On the other hand, total imported goods for the month of September 2018 amounted to $9.75 billion or a growth of 26.1 percent from $7.74 billion posted during the same month in 2017. The increase was due to the positive growth manifested by the top 10 major import commodities for September 2018. These were the following: cereals and cereal preparations (101.4%); iron and steel (49.5%); miscellaneous manufactured articles (40.2%); transport equipment (32.3%); plastics in primary and non-primary forms (31.9%); electronic products (29.5%); telecommunication equipment and electrical machinery  (20.5%); mineral fuels, lubricants and related materials (19.3%); industrial machinery and equipment (17.3%); and other food and live animals (15.7%). (Table 3)

3.     EXPORTS OF ELECTRONIC PRODUCTS GROW BY 4.2 PERCENT

Electronic Products continued to be the country’s top export with total earnings of $3.41 billion, accounting for a share of 58.6 percent to the total exports revenue in September 2018. This export commodity grew by 4.2 percent, from $3.28 billion export receipts in the same month of the previous year. Components/Devices (Semiconductors) comprised the biggest share of 43.9 percent among electronic products. It posted an increase of 2.6 percent, from $2.49 billion in September 2017 to $2.56 billion in September 2018.

Machinery and Transport Equipment was the second top export earner with revenue of $343.61 million or a share of 5.9 percent. Export sales of this commodity group contracted by 30.4 percent from the $493.39 million recorded in September 2017.

Other Manufactured Goods ranked third with $313.20 million or 5.4 percent of the total export receipts. Export of this commodity dropped by 4.2 percent, from the $327.03 million export revenue posted in the same month of the previous year.

Bananas (Fresh) placed fourth with $174.72 million earnings or a 3.0 percent share to the total export receipts in September 2018. Export of this commodity surged by 189.2 percent from the previous year’s receipts of $60.42 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fifth with $146.56 million or a share of 2.5 percent to total export earnings in September 2018. It went down by 4.6 percent from an export value of $153.66 million in September 2017.

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

• Metal Components with  $121.55 million, which went up by 7.0 percent;
• Gold with $93.68 million, which declined by 2.0 percent;
• Coconut oil with  $91.45 million, which dropped by 36.4 percent;
• Electronic Equipment and Parts with $89.83 million, which decreased by 0.6 percent;
• Miscellaneous manufactured articles with $77.31 million, which went up by 10.0 percent.

Total receipts from the top 10 major exports amounted to $4.87 billion or a share of 83.5 percent of the total export. This recorded an increase of 0.8 percent from the September 2017 export value of $4.83 billion. (Table 2)

4.     ELECTRONIC PRODUCTS COMMODITY GROUP ACCOUNTS FOR  24.9 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top 10 imports for September 2018 reached $7.19 billion, an increase of 30.1 percent over the September 2017 import value of $5.53 billion.  (Table 3)

Import bill of Electronic Products in September 2018 accounted for the highest total imports with a share of 24.9 percent to the total imports valued at $2.43 billion. Import of this commodity group expanded by 29.5 percent from the $1.88 billion posted in September 2017. Among electronic products, Components/Devices (Semiconductors) reflected the biggest share of 17.5 percent. It increased by 30.7 percent, from $1.31 billion in September 2017 to $1.71 billion in September 2018.

Mineral Fuels, Lubricants and Related Materials came second with import value reaching $1.18 billion.  This commodity went up by 19.3 percent from the September 2017 import value of $992.14 million.

Transport Equipment ranked third with import bill amounting to $1.00 billion or 10.3 percent share to total import value. It expanded by 32.3 percent from the September 2017 value of $758.13 million.

Iron and Steel placed fourth with imports valued at $558.97 million or a share of 5.7 percent. Imports of this commodity went up by 49.5 percent over the September 2017 value of $373.79 million.

Imports of Industrial Machinery and Equipment, valued at $549.53 million in September 2018 or a percent share of 5.6 percent, ranked fifth. Import of this commodity went up by 17.3 percent from $468.65 million in September 2017.

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

• Cereals and Cereal Preparations, $349.16 million which rose by 101.4 percent;
• Miscellaneous Manufactured Articles, $325.33 million which increased by 40.2 percent;
• Other Food and Live Animals, $313.68 million which went up by 15.7 percent;
• Telecommunication Equipment and Electrical Machinery, $243.74 million which increased by 20.5 percent; and
• Plastics in Primary and Non-Primary forms, $231.85 million which grew by 31.9 percent.

5.     EXPORTS OF MANUFACTURED GOODS DROP BY 1.9 PERCENT

Exports of Manufactured Goods, comprising a share of 85.0 percent to total exports, were valued at $4.95 billion in September 2018 (Table 4).  It  declined by 1.9 percent compared to the $5.05 billion export value in September 2017.

Exports from Mineral Products, with a value of $263.27 million or a share of 4.5 percent went down by 30.8 percent in September 2018.

Total Agro-Based Products, with a share of 7.5 percent or $434.59 million, went up by 3.7 percent in September 2018.

Merchandise exports from Special Transactions, with a value of $110.20 million or a share of 1.9 percent to the total export revenue, increased by 2.3 percent in September 2018 from the previous year’s figure of $107.77 million.

Petroleum Products, with 0.5 percent share or $31.51 million, significantly went up by 226.7 percent from $9.65 million in the same month of previous year.

Exports of Forest Products, accounting for 0.6 percent share to the total exports or a value of $33.49 million, expanded by 56.7 percent in September 2018.

6.  IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS SHARE 40.4 PERCENT OF THE TOTAL IMPORT VALUE

By major type of goods, imports of Raw Materials and Intermediate Goods contributed the largest share of 40.4 percent to total import value. It increased by 30.9 percent, from $3.01 billion in September 2017 to $3.94 billion in September 2018. Semi-Processed Raw Materials, with a share of 35.6 of the total imports for the commodity group, amounted to $3.47 billion.  Import of this commodity increased by 36.6 percent from the $2.54 billion posted in September 2017. (Table 5)

Imports of Capital Goods with value of $2.95 billion, accounted for 30.2 percent in September 2018. It went up by 25.4 percent from the September 2017 import value of $2.35 billion.

Imports of Consumer Goods, amounting to $1.65 billion, contributed 16.9 percent of the total imports in September 2018.  It grew by 22.2 percent from the $1.35 billion registered value in September 2017.

Imports of Mineral Fuels, Lubricants and Related Materials, comprising 12.1 percent of total imports, posted an increment of 19.3 percent, from $992.14 million in September 2017 to $1.18 billion in September 2018. Other mineral fuels, lubricants and related materials, valued at $631.99 million, accounted for the largest share of 6.5 percent of imports of this commodity group.

Moreover, imports of Special Transactions with a 0.4 percent share to total export, registered an increase of 0.5 percent, from $38.52 million in September 2017 to $38.72 million in September 2018.

7.     EXPORTS TO UNITED STATES OF AMERICA COMPRISE 16.6 PERCENT

Total exports receipt recorded by the country’s top 10 market destinations for September 2018 reached $4.73 billion or 81.2 percent share to the total exports. (Table 6)

United States of America (USA), including Alaska and Hawaii, ranked first with exports valued at $966.35 million or 16.6 percent of the total exports for September 2018. Total exports for USA grew by 9.2 percent, from $885.25 million value posted in September 2017.

Hong Kong placed second with an export value of $822.70 million or a share of 14.1 percent of total exports in September 2018. Exports to this country represent a decrease of 1.4 percent, from $834.54 million in September 2017.

Japan, including Okinawa, came third with export shipments valued at $749.38 million or a share of 12.9 percent. Exports to this country went down by 6.6 percent, from $802.26 million recorded in September 2017.

People’s Republic of China placed fourth with $722.62 million or 12.4 percent of the total exports. This went down by 5.7 percent from an export value of $766.63 million posted in September 2017.

Singapore, contributing a 6.0 percent share to total exports or an export value of $349.42 million, ranked fifth. Outbound shipments to this country grew by 5.9 percent from $329.98 million posted in the same month of the previous year.

Completing the top 10 market destinations for September 2018 were: Germany, $242.25 million; Netherlands, $239.16 million; Taiwan, $218.14 million; Thailand, $216.96 million; and Republic of Korea, $202.48 million.  (Table 6)

8.     IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNT FOR 19.1 PERCENT

Import bills from the top 10 countries amounted to $7.47 billion or a share of 76.6 percent of the total imports in September 2018. (Table 7)

People’s Republic of China was the country’s biggest supplier of imports with 19.0 percent share in September 2018. Import bills to this country registered an amount of $1.86 billion or an increase of 38.5 percent, from $1.34 billion in September 2017.

Republic of Korea, which placed second, contributed a percent share of 11.2 percent or an import value of $1.09 billion in September 2018. This recorded an increase of almost half or 49.9 percent from the September 2017 value amounting to $727.08 million.

Japan, including Okinawa, ranked third with an import value of $858.44 million in September 2018 or a share of 8.8 percent. Imports from this country went up by 6.9 percent, from $802.98 million in September 2017.

Indonesia placed fourth with a 7.0 percent share to the total import bills in September 2018.  Its total import bills rose by 24.3 percent, from $552.38 million in September 2017 to $686.60 million in September 2018.

Thailand came fifth with imports valued at $684.79 million in September 2018 or a share of 7.0 percent. Import bills from this country increased by 28.4 percent from $533.38 million in September 2017.

Completing the list of major sources of imports for the month of September 2018 were: United States of America (includes Alaska and Hawaii), $638.37 million; Singapore, $486.91 million; Taiwan, $458.49 million; Malaysia (includes Sabah and Sarawak), $385.94 million; and Vietnam, $327.07 million. (Table 7)

9.     EXPORTS TO COUNTRIES IN EAST ASIA COMPRISE  46.6 PERCENT

By economic bloc, the bulk of the country’s merchandise exports in September 2018, which comprised 46.6 percent of total exports or $2.72 billion, went to countries in East Asia.  This amount decreased by 4.4 percent, from $2.84 billion in September 2017. (Table 9)

Commodities exported to ASEAN member countries accounted for 15.4 percent of the total exports in September 2018 or a value of $898.14 million. Exports to this economic bloc increased by 4.0 percent, from the $863.66 million posted in the same month of the previous year.

Total exports to European Union were valued at $727.15 million or a share of 12.5 percent of total merchandise exports. This went down by 29.3 percent from the recorded value of $1.03 billion in September 2017. (Table 9)

10.     IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 46.2 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 September 2018 amounting to $4.52 billion, or a 46.3 percent share to the total imports.This amount rose to 28.9 percent from $3.51 billion in September 2017.

Commodities imported from ASEAN member countries reached $2.58 billion.  It contributed 26.5 percent to the total imports and an increase of 27.8 percent from the September 2017 import value of $2.02 billion.

Imports from European Union member countries registered a value of $783.86 million in September 2018. It increased by 49.0 percent from the September 2017 value of $525.97 million. (Table 10)