A.    EXPORTS

1.    Machinery and mechanical appliances; electrical equipment; parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles was the primary driver to the downtrend of UVI for Exports

The UVI of exported goods for the fourth quarter of 2024 registered an annual decline of 1.3 percent from the 0.2 percent annual increase in the previous quarter. UVI for exports grew by 3.9 percent in the fourth quarter of 2023. (Figure 1, and Tables A and 2)

The decline in the annual rate of UVI for exports in the fourth quarter of 2024 from an annual increase in the third quarter of 2024 was mainly brought about by machinery and mechanical appliances; electrical equipment; parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles with an annual decrement of 3.5 percent in the fourth quarter of 2024 from an annual decline of 1.9 percent in the previous quarter. This section contributed 43.2 percent to the downtrend of UVI for exports in the fourth quarter of 2024.

In addition, the slower annual increase observed in works of art, collectors’ pieces and antiques at 2.6 percent in the fourth quarter of 2024 from an annual increment of 7.0 percent in the third quarter of 2024, and annual decrease recorded in animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes at 0.03 percent in the fourth quarter of 2024 from 4.6 percent annual increase in the third quarter of 2024 also contributed to the downtrend of UVI for exports in the fourth quarter of 2024.

Of the remaining 18 sections, 11 exhibited annual increases, while seven posted annual decreases in the fourth quarter of 2024. (Tables A, B, and 2)

2.    Machinery and mechanical appliances; electrical equipment; parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles was the main contributor to the overall annual decrease of UVI for Exports

The top three sections contributing to the overall annual decline of UVI for exports in the fourth quarter of 2024 were the following:

a.    Machinery and mechanical appliances; electrical equipment; parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles (-3.5%);
b.    Mineral products (-7.7%); and
c.    Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; clocks and watches; musical instruments; parts and accessories thereof (-5.0%). (Tables B and 2)
 

B.    IMPORTS

1.    Mineral Products was the primary driver to the downtrend of UVI for Imports

The UVI of imported goods registered a faster annual decrease of 1.6 percent in the fourth quarter of 2024 from an annual decline of 1.2 percent in the third quarter of 2024. UVI for imports recorded an annual increase of 1.7 percent in the fourth quarter of 2023. (Figure 2, and Tables A and 4)

The downtrend of UVI for imports in the fourth quarter of 2024 was mainly contributed by the annual decrease recorded in mineral products at 6.0 percent from an annual increment of 1.3 percent in the third quarter of 2024. This section contributed 83.8 percent to the downtrend of UVI for imports in the fourth quarter of 2024.

Other main contributor to the downtrend of UVI for imports during the period was the annual decline recorded in vegetable products at 2.1 percent in the fourth quarter of 2024 from an annual increase of 2.8 percent in the third quarter of 2024.

Of the remaining 19 sections, 12 sections registered annual decreases, while seven recorded annual increases in the fourth quarter of 2024. (Tables A, C, and 4)

2.    Mineral Products was the main contributor to the overall annual decrease of UVI for Imports

The top three sections contributing to the overall annual growth rate of UVI for imports in the fourth quarter of 2024 were the following:

a.    Mineral products (-6.0%);
b.    Works of art, collectors’ pieces and antiques (-2.7%); and 
c.    Vegetable products (-2.1%). (Tables C and 4)

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