1.    EXPORTS

The value of seasonally adjusted total exports amounted to USD 5.54 billion in June 2024. This indicates a monthly decline of 13.6 percent from the deseasonalized total exports value of USD 6.41 billion in May 2024. (Figure 1, and Tables A and 1)

Similarly, the seasonally adjusted export value of manufactured goods amounting to USD 4.21 billion registered a monthly drop of 17.4 percent in June 2024 from its USD 5.09 billion export value in May 2024. Meanwhile, mineral products with a seasonally adjusted export value amounting to USD 593.16 million posted a monthly increase of 9.2 percent from its USD 543.16 million export value in May 2024. Total agro-based products with seasonally adjusted export sales amounting to USD 435.49 million posted a monthly increment of 2.8 percent from its USD 423.50 million export value in May 2024.

The seasonal factors, such as the degree of demand for selected major types of goods during the period, pushed up the total value of exports and export values of total agro-based products, mineral 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 June 2024 amounted to USD 10.04 billion. This represents a monthly decline of 4.8 percent from its USD 10.55 billion total import value in May 2024. (Figure 2, and Tables A and 2)

Similarly, the seasonally adjusted import value of raw materials and intermediate goods recorded at USD 3.64 billion posted a monthly decrement of 6.2 percent in June 2024 from its USD 3.88 billion import value in May 2024. Consumer goods with an import value of USD 1.97 billion registered a monthly drop of 3.5 percent from its USD 2.04 billion import value in the previous month. On the other hand, capital goods with a seasonally adjusted import value amounting to USD 2.87 billion posted a monthly increase of 6.8 percent from its USD 2.69 billion import value in May 2024.

The seasonal factors, such as the degree of demand for selected major types of goods during the period, pulled down the total value of imports and import values of capital goods, raw materials and intermediate 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

Technical Notes

The Monthly International Merchandise Trade Statistics (IMTS) or Foreign Trade Statistics generates the original series of the Total Exports and Total Imports. IMTS is compiled to serve the needs of many users including the government; the business community; compilers of other economic statistics, such as balance of payments and national accounts; various regional, supranational, and international organizations; researchers; and the public at large.

This special release features the seasonally adjusted IMTS using X-13 Auto-Regressive Integrated Moving Average (ARIMA) under the X-13-ARIMA-SEATS method, which uses the X-11 filter for seasonal adjustment of JDemetra+. The seasonally adjusted series show the trend of value of total exports and imports and selected major type of goods without the effects of seasonal factors.

The decomposition model chosen for the seasonal adjustment for each value is shown below.

See more at the Seasonally Adjusted Value of Export and Import Statistics landing page.