Foreign Trade Statistics of the Philippines: First Semester 2015

Reference Number: 2015-079
Release Date: September 30, 2015

Foreign Trade Statistics of the Philippines

First Semester 2015

 

 

FIRST SEMESTER 2015 TOTAL TRADE STOOD AT $59.610 BILLION

The country’s total external trade in goods for the first semester of 2015 reached $59.610 billion, representing a decrease of 2.7 percent from $61.264 billion for the same period in 2014.  The negative growth of the external trade was due to the decrease of both inward and outward trading of goods. Total imports decelerated by 2.3 percent to $30.724 billion in 2015 from $31.452 billion in 2014. Similarly, total export receipts contracted by 3.1 percent to $28.887 billion in 2015 from $29.812 billion in 2014. The first semester of 2015 showed an unfavorable balance of trade in goods (BOT-G) for the country, with a recorded trade deficit of $1.837 billion,higher than the $1.640 billion deficit for the same period last year (Table 1).

 

2015 FIRST SEMESTER’S TOP 10 EXPORTS ACCOUNTED FOR 82.7 PERCENT OF TOTAL RECEIPTS

Aggregate revenue of the top ten exports in 2015 amounted to $23.902 billion  or 82.7 percent of total exports receipts.  It decreased by 2.8 percent from $24.598 billion reported in the same period of 2014 (Table 2).

Electronic Products (includes both on consignment and not on consignment) with 46.6 percent share of total exports, was still the top earner for the first semester of 2015. This increased by 5.0 percent from $12.834 billion in 2014 to $13.472 billion in 2015.

Other Manufactures followed with a share of 7.2 percent and a receipt of $2.079 billion.  This was 22.6 percent lower than the $2.686 billion recorded value in the same period of 2014.

Machinery and Transport Equipment with a share of 6.6 percent, ranked third with export receipts of $1.918 billion or 2.7 percent higher than the $1.868 billion recorded  in 2014.

Woodcrafts and Furniture ranked fourth with a share of 4.8 percent and posted a decrease of 24.9 percent to $1.379 billion in 2015 from $1.838 billion in 2014.

Chemicals was the country’s fifth top export in 2015, with $1.062 billion or 3.7 percent of the total export receipts.  It increased by 3.6 percent from $1.024 billion in 2014.

Rounding up the list of top ten exports for the first semester in 2015 were:   Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships with an export value of $954.31 million, increased by 0.7 percent; Articles of Apparel and Clothing Accessories (includes on consignment and not on consignment), worth $905.89 million, rose by 0.3 percent; Other Mineral Products, $890.73 million, decreased by 34.4 percent; Metal Components, worth $648.41 million or an increase of 5.5 percent; and Coconut Oil, including crude and refined, with proceeds billed at $592.69 million, increased by 13.2 percent from $523.76 million in  2014.

TOP 10 IMPORTS ACCOUNTED FOR 73.1 PERCENT OF IMPORT BILL FOR 2015 FIRST SEMESTER

The top ten imports for the first semester of 2015 accounted for 73.1 percent or $22.467 billion of the total imports.  It registered a negative growth of 4.8 percent from $23.590 billion during the first semester of 2014 (Table 3).

Electronic Products (includes both on consignment and not on consignment), still the country’s leading imported goods with 27.7 percent of the total import bill, posted a positive growth of 20.1 percent from $7.100 billion in 2014 to $8.523 billion in 2015.

Mineral Fuels, Lubricants and Related Materials ranked second, with 13.8 percent share, decreased by 37.6 percent to $4.239 billion in 2015 from $6.798 billion in 2014.

Transport Equipment ranked third, comprising 8.7 percent of the total imports, dropped by 17.2 percent from $3.213 billion in 2014 to $2.662 billion in 2015. 

Industrial Machinery and Equipment ranked fourth, with 5.6 percent share, rose by 14.8 percent from $1.507 billion to $1.730 billion worth of imports in 2015.

Other Food and Live Animals ranked fifth, with 3.6 percent share of the total imports valued at $1.114 billion, higher by 11.5 percent from $999.08 million in 2014.

The remaining top ten imports for the first semester of 2015 were as follows: Cereals and Cereal Preparations, $977.18 million, accelerated by 33.7 percent; Iron and Steel, $858.26 million, decreased by 1.4 percent; Plastics in Primary and Non-Primary Forms, $840.37 million, went down by 13.3 percent; Miscellaneous Manufactured Articles, $815.06 million, accelerated by 13.0 percent; and Telecommunication Equipment and Electrical Machinery (includes telecommunications and sound recording and reproducing apparatus and equipment), $708.58 million, expanded by 3.9 percent.

JAPAN ACCOUNTED FOR 14.7 PERCENT OF THE COUNTRY’S TOTAL TRADE

The top ten trading partners in the country posted a total trade value of $46.363 billion or 77.8 percent of the cumulative external trade for the first semester of 2015. This comprised a total export receipt of $23.604 billion or 81.7 percent of the total exports and total import bill of $22.758 billion or 74.1 percent of the total imports (Table 4).

Japan (includes Okinawa) was the country’s top trading partner in the first semester of 2015, accounting for 14.7 percent or $8.765 billion of the total external trade. Total exports receipts to Japan amounted to $6.173 billion while imports were valued at $2.592 billion, posting a trade surplus of $3.581 billion (Table 4).  Electronic Products registered a large share of 27.9 percent of the total exports to Japan valued at $1.721 billion, Woodcraft and Furniture followed by valued at $1.233 billion or 20.0 percent share of the total exports.  On the other hand, the bulk of the imported goods from Japan were Electronic Products billed at $867.40 million or 33.5 percent of the total imports and Transport Equipment with $458.36 million or 17.7 percent of the total imports (Tables 5 and 6).

People’s Republic of China ranked second, accounting for $7.812 billion or 13.1 percent of the total trade in the first semester of 2015.  Sales from exports to China were valued at $3.071 billion while payment for imports totaled to $4.740 billion, reflecting a trade deficit of $1.669 billion (Table 4).  Majority of the exports were Electronic Products worth $1.533 billion or 49.9 percent of the total exports to China.  Followed by, Other Mineral Products with $445.06 million or 14.5 percent share.  Primary imported goods purchased from China were: Electronic Products worth $914.05 million or 19.3 percent of the total imports; Iron and Steel valued at $457.88 million or 9.7 percent; and Industrial Machinery and Equipment with payments for imported goods worth $404.94 million or 8.5 percent.

USA (includes Alaska and Hawaii) was registered as the country’s third largest trading partner in the first semester of 2015 with total trade valued at $7.743 billion or 13.0 percent of the total trade. Export proceeds from USA reached $4.433 billion while payments for imports were  worth $3.310 billion,  resulting to a favorable balance of trade in goods (BOT-G) of $1.122 billion (Table 4). Major portion of the export revenue came from Electronic Products valued at $1.717 billion or 38.7 percent of the total exports to USA.  Followed by Articles of Apparel and Clothing Accessories (includes on consignment and not on consignment) with total receipts of $617.79 million or 13.9 percent of the total exports to USA. The bulk of the imported goods purchased from USA comprised of Electronic Products worth $1.597 billion or 48.2 percent of the total imports. Feeding Stuff for Animals was the second highest imported goods from USA with $335.26 million or a share of 10.1 percent of the total imports from USA.

Singapore ranked as the fourth largest trading partner of the country for the first semester of 2015, with a share of 6.8 percent to total trade or $4.026 billion worth of goods.  Recorded export receipts to this country amounted to $1.764 billion while import payments totaled $2.262 billion, resulting to a trade deficit of $498.49 million (Table 4).  The country’s major exports to Singapore were Electronic Products with $1.506 billion or 85.4 percent of the total exports and Other Manufactures with $83.93 million or 4.8 percent.  Electronic Products and Mineral Fuels, Lubricants and Related Materials were the major imports from Singapore with import payments amounting to $1.081 billion or  47.8 percent share and $287.67 million or 12.7 percent share, respectively.

Hongkong posted on the fifth place,  recorded a 6.2 percent or $3.709 billion of the total external trade for the first semester of 2015. Total exports receipts to Hongkong amounted to $2.906 billion while imports were valued at $802.52 million, posting a trade surplus of $2.104 billion (Table 4).  Electronic Products registered a large share of 87.6 percent of the total exports to Hongkong  valued at $2.544 million, followed by Machinery and Transport Equipment valued at $60.49 million or 2.1 percent share of the total exports.  

TRADING WITH EUROPEAN UNION ACCOUNTED FOR 11.5 PERCENT OF PHILIPPINES’ TOTAL TRADE

The total external trade in goods with the European Union (EU) for the first semester of 2015 was valued at $6.870 billion or 11.5 percent of the country’s total trade.  Merchandise exported to EU amounted to $3.542 billion or 12.3 percent of the total export receipts, while imports were valued at $3.328 billion or a 10.8 percent share to total imports, resulting to a trade surplus of $213.34 million.  Among the EU member countries, Germany was the country’s top trading partner with a total trade of $2.830 billion or 41.2 percent of EU’s total trade.  Proceeds from exports to Germany amounted to $1.313 billion while payment for imports was valued at $1.518 billion, resulting to a balance of trade (BOT-G) deficit of $205.30 million (Table 7).

Top exported goods for the EU member countries for the first semester in 2015 were: Electronic Products, $2.086 billion; Coconut Oil including crude and refined, $247.25 million; Other Manufactures, $213.92 million; Machinery and Transport Equipment, $211.29 million; and Articles of Apparel and Clothing Accessories (includes on consignment and not on consignment), $104.47 million (Table 8).

Leading imported goods from the EU member countries for the first semester in 2015 were: Electronic Products, $1.036 billion; Transport Equipment, $614.04 million; Industrial Machinery and Equipment, $245.23 million; Medicinal and Pharmaceutical Products, $228.79 million; and Other Food and Live Animals, $195.43 million (Table 9).

ASEAN TOTAL TRADE STOOD AT $11.530 BILLION

The country’s external trade in goods with ASEAN member countries for the first semester of 2015 amounted to $11.530 billion or 19.3 percent of the total trade.  Exported goods to ASEAN member countries were valued at $4.141 billion while imports were worth $7.389 billion, resulting to unfavourable balance of trade in goods of $3.249 billion.  Singapore was  still the country’s top trading partner among the ASEAN member countries with a total trade valued at $4.026 billion or 34.9 percent share of the ASEAN total trade.  Total exports to Singapore amounted to $1.764 billion while imports payment was $2.262 billion, which resulted to a trade deficit of $498.49 million (Table 7).

Principal exports to the ASEAN member countries for the first semester in 2015 were: Electronic Products, $2.111 billion; Other Manufactures, $635.66 million; Machinery and Transport Equipment, $520.85 million; Metal Components, $251.06 million; and Chemicals, $235.04 million (Table 8).

The first semesters’ leading imports in 2015 from the ASEAN member countries were: Electronic Products, $1.895 billion; Mineral Fuels, Lubricants and Related Materials, $961.21 million; Transport Equipment, $869.11 million; Other Food and Live Animals, $415.33 million; and Plastics in Primary and Non-Primary Forms, $342.68 million (Table 9).

TOTAL TRADE TO APEC REACHED $48.175 BILLION FOR THE FIRST SEMESTER OF 2015

The biggest portion of the country’s total external trade came from APEC member countries amounting to $48.175 billion or 80.8 percent of the total external trade for the first six months of 2015.  Revenue from exports totaled $23.764 billion or 82.3 percent of the total exports while import payments amounted to $24.411 billion or 79.5 percent share of the total imports.  The top trading partner from APEC member countries were: Japan, $8.765 billion or 14.7 percent share; USA, $7.743 billion or 13.0 percent share; People’s Republic of China A, $7.812 billion or 13.1 percent share; Singapore, $4.026 billion or 6.8 percent share; and Republic of Korea, $3.320 billion or 5.6 percent share of the APEC total trade (Table 10).

Electronic Products remained as the major exports to APEC member countries for the first semester of 2015 with total receipts valued at $11.153 billion or 46.9 percent share of the total APEC exports.  Other top exports were: Other Manufactures, $1.785 billion; Woodcrafts and Furniture, $1.327 billion; Machinery and Transport Equipment, $1.084 billion; and Ignition Wiring Sets, $944.02 million (Table 11).

Principal imports from APEC member countries were: Electronic Products,  $7.443 billion; Mineral Fuels, Lubricants and Related Materials, $2.464 billion; Transport Equipment, $1.916 billion; Industrial Machinery and Equipment, $1.415 billion; and Iron ans Steel, $836.03 million (Table 12).

 

 

 

Technical Notes:

 

1.   The commodity groupings in this Special Release are in accordance with the 2004 Philippine Standard Commodity Classification (PSCC).  This is in compliance with   the former NSCB   Resolution No. 03, Series of 2005 entitled “Approving and Adopting the 2004 Philippine Standard Commodity Classification” by all concerned government agencies and instrumentalities.

2.   All transactions that pass through the Automated Export Documentation System (AEDS) are included in the compilation of export statistics.

3.   Starting with 2010 series, import statistics are adjusted based on the transactions that pass through the Electronic to Mobile (E2M) System.

4.   Values and growth rates in this Special Release refer to the first semester of 2015 and corresponding first semester of 2014.

Previous Release

Exports at a Glance

Reference Month Total Exports
Oct 2019 $5.90Bp
Jul 2019 $6.17Bp
Aug 2018 $6.18Br
Growth Rate (%)

3.48

3.28

2.28

Imports at a Glance

Reference Month Total Imports
Oct 2019 $9.02Bp
Jul 2019 $9.57Bp
Aug 2018 $9.68Br
Growth Rate (%)

-4.16

-10.45

39.84

Contact Us

Trade Statistics Division 
Economic Sector Statistics Service
J.Soliven@psa.gov.ph   3761975

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