1.    EXPORTS

The value of seasonally adjusted total exports amounted to USD 6.21 billion in July 2023. This indicates a monthly decline of -2.3 percent from the recorded value of USD 6.35 billion in June 2023. (Figure 1, and Tables A and 1)

Similarly, the seasonally adjusted export value of manufactured goods at USD 5.01 billion registered a monthly decline of -4.1 percent from the USD 5.22 billion export value in June 2023. Mineral products at USD 544.09 million posted a monthly drop of -14.1 percent from the USD 633.20 million export value in the previous month.

On the other hand, the seasonally adjusted export sales from total agro-based products was recorded at USD 408.68 million, which exhibited a monthly growth of 8.3 percent during the month.

The seasonal factors, such as the degree of the demand for selected major types of goods during the period, pulled down the total value of exports and export value of mineral products. However, it pushed up the value of exports for total agro-based products and manufactured goods. (Table 1)

The rest of the major types of goods, including forest products and petroleum products, have no seasonality. 

2.    IMPORTS

The value of seasonally adjusted total imports in July 2023 amounted to USD 10.22 billion. This represents a monthly decrease of  -0.1 percent from the USD 10.23 billion value in June 2023. (Figure 2, and Tables A and 2)

Similarly, the seasonally adjusted import value of raw materials and intermediate goods recorded at USD 3.69 billion posted a monthly decline of -3.9 percent from the USD 3.84 billion import value in June 2023.

Meanwhile, the seasonally adjusted imports of capital goods at USD 3.10 billion registered a monthly growth of 2.0 percent during the month compared with the import value of USD 3.04 billion in the previous month. Consumer goods at USD 2.08 billion posted a monthly increase of 4.8 percent from the USD 1.98 billion import  value in June 2023.

The seasonal factors, such as the degree of the demand for selected major types of goods during the period, pushed up the total value of imports and import value of raw materials and intermediate goods. On the other hand, it pulled down the value of imports for capital goods and consumer goods. (Table 2)

Mineral fuels, lubricants and related materials has no seasonality. 

CLAIRE DENNIS S. MAPA, PhD
Undersecretary
National Statistician and Civil Registrar General