EXTERNAL TRADE PERFORMANCE
September 2010
(Preliminary)

p - preliminary
r - revised

JANUARY TO SEPTEMBER 2010 TOTAL TRADE STOOD AT $78.246 BILLION

Total external trade in goods for January to September 2010 reached $78.246 billion, a 31.9 percent increment from $59.341 billion registered during the same period in 2009. Total imports posted a 26.0 percent annual increase to $39.938 billion from $31.692 billion. Similarly, an increase of 38.6 percent for merchandise exports was noted to $38.308 billion in January to September of 2010 from $27.649 billion during the same period in 2009. Thus, the balance of trade in goods (BOT-G) for the Philippines registered a deficit of $1.629 billion during the 9-month period in 2010, a value lower than the $4.044 billion deficit in the same 9-month period last year.

Figure 1A Philippine Trade Performance in January - September : 2010 and 2009
(F.O.B. Value in Million US Dollars)

Figure 1B Philippine Trade Performance in September : 2010 and 2009
(F.O.B. Value in Million US Dollars)

SEPTEMBER 2010 IMPORTS INCREASED BY 24.6 PERCENT

Combined import and export merchandise trade for September 2010 was up by 35.5 percent to $9.898 billion from $7.308 billion in September 2009. Total merchandise imports increased at 24.6 percent to $4.574 billion from $3.670 billion in September 2009. Total exports, on the other hand, rose by 46.4 percent to $5.325 billion from $3.638 billion in September 2009. The balance of trade in goods (BOT-G) in September 2010 posted a surplus of $751.00 million compared to last year's recorded deficit of $32.00 million. On a month-on-month basis, total imports for September 2010 grew by 2.7 percent from $4.452 billion recorded in August 2010.

ELECTRONIC PRODUCTS ACCOUNTED FOR 35.7 PERCENT OF IMPORT BILL

Accounting for 35.7 percent of the aggregate import bill, payments for Electronic Products (including consigned and direct importation using the expanded coverage of electronic products) in September 2010 amounted to $1.632 billion. It went up by 23.8 percent over last year's figure of $1.318 billion. On a monthly basis, it decline by 0.8 percent from $1.645 billion recorded in August 2010. Among the major groups of electronic products, Components/Devices (Semiconductors) having the biggest share of 28.7 percent, expanded by 35.6 percent to $1.314 billion from $969.33 million in September 2009.

Imports of Mineral Fuels, Lubricants and Related Materials in September 2010 ranked second with 16.1 percent share and posted a positive growth of 6.9 percent to $734.66 million from $687.50 million in September 2009.

Transport Equipment was the RP's third top imports for the month with 6.4 percent share to total imports at $294.66 million. The value improved by 33.2 percent from it's previous year level of $217.51 million.

Industrial Machinery and Equipment, contributing 4.6 percent to the total import bill, was the RP's fourth top import for the month with payments placed at $209.90 million, an increase of 65.0 percent from last year's level of $127.22 million.

Fifth in rank and with 3.5 percent share to the total imports, Metalliferous Ores and Metal Scrap accelerated by 393.3 percent or $159.41 million, the highest annual growth rate among the top ten imports from its year ago level of $32.31 million.

Organic and Inorganic Chemicals ranked sixth, comprising 2.4 percent of the total imports, recorded $110.78 million, higher by 25.9 percent from its year ago level of $88.02 million.

Rounding up the list of the top ten imports for September 2010 were Plastics in Primary and Non-Primary Forms worth $103.80 million, gained by 49.4 percent; Iron and Steel amounting to $86.07 million increased by 7.0 percent; Telecommunication Equipment and Electrical Machinery (including telecommunications and sound recording and reproducing apparatus and equipment) valued at $78.56 million and the only commodity group among the top ten imports for September 2010 that showed an annual negative growth of 12.1 percent; and Cereals and Cereal Preparations with purchases placed at $74.89 million rose by 7.6 percent.

Aggregate payment for the country's top ten imports for September 2010 reached $3.485 billion or 76.2 percent of the total import bill.

Figure 2 Philippine Top Six Imports in September : 2010 and 2009
(F.O.B. Value in Million US Dollars)

RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNTED FOR 39.7 PERCENT OF THE TOTAL IMPORTS

Accounting for 39.7 percent of the total imports, payments in September 2010 for Raw Materials and Intermediate Goods amounted to $1.816 billion or a 34.3 percent increment over last year's figure of $1.352 billion. Compared to the previous month's level, purchases lowered by 4.9 percent from $1.910 billion. From among this group, Semi-Processed Raw Materials representing the biggest share of 33.5 percent was valued at $1.534 billion or 25.1 percent annual growth.

Capital Goods, which comprised 30.9 percent of the total imports, grew by 19.7 percent year-on-year to $1.411 billion from $1.178 billion in September 2009.

Mineral Fuels, Lubricants and Related Materials with 16.1 percent share, went up by 6.9 percent to $734.66 million from $687.50 million in September 2009.

Purchases of Consumer Goods amounted to $545.16 million or a 32.8 percent increment from $410.47 million in September 2009. Similarly, Special Transactions advanced by 59.9 percent to $67.08 million from $41.95 million in September 2009.

Figure 3 Philippine Imports by Major Type of Goods in September : 2009 and 2010
(F.O.B. Value in Million US Dollars)

IMPORTS FROM JAPAN ACCOUNTED FOR 12.2 PERCENT

Japan including Okinawa, was the country's biggest source of imports for September 2010 with 12.2 percent share of the total import bill, higher by 4.2 percent to $556.09 million from $533.60 million in September 2009. Exports to Japan amounted to $765.74 million, yielding a two-way trade value of $1.322 billion and a trade surplus for RP of $209.65 million.

United States of America (USA) including Alaska and Hawaii, the second biggest source of imports with 10.8 percent share, recorded payments worth $491.52 million, up by 30.3 percent from $377.28 million recorded in September 2009. Revenue from RP's exports to USA, on the other hand, reached $558.69 million, generating a total trade value of $1.050 billion and $67.17 million trade surplus for the Philippines.

Singapore came third, accounting for 9.1 percent share of the total import bill in September 2010 increased by 33.0 percent to $415.46 million from $312.48 million during the same month in 2009. Exports to Singapore amounted to $1.283 million resulting to a total trade value of $1.699 billion and a trade surplus of $867.94 million.

People's Republic of China settled fourth, accounting for 8.6 percent share of the total import bill in September 2010 or a 15.8 percent increment to $393.91 million from $340.10 million during the same month in 2009. Exports to People's Republic of China amounted to $669.74 million resulting to a total trade value of $1.064 billion and a trade surplus for the Philippines of $275.82 million.

Fifth in rank is Thailand, representing 8.2 percent of the total import bill in September 2010, amounted to $376.38 million. Meanwhile, export receipts from Thailand in September 2010 reached $169.50 million yielding a total trade value of $545.88 million and a trade deficit of $206.88 million.

Other major sources of imports for the month of September 2010 were Republic of Korea, $320.82 million; Taiwan, $288.55 million; Malaysia (including Sabah and Sarawak), $174.07 million; Saudi Arabia, $161.86 million; and United Arab Emirates, $156.42 million.

Payments for imports from the top ten sources for September 2010 amounted to $3.335 billion or 72.9 percent of the total.

Figure 4 Philippine Imports by Country in September : 2010

IMPORTS FROM EASTERN ASIA WORTH $1.682 BILLION

Philippines total imports in September 2010 from Eastern Asia accounted for 36.8 percent of the county's total imports with total payments of $1.682 billion or a positive annual growth of 8.1 percent from September 2009 level of $1.556 billion. Total exports to member-countries of Eastern Asia was valued at $2.219 billion, resulting to a total trade of $3.901 billion and a balance of trade in goods (BOT-G) surplus of $536.91 million.

Imports from ASEAN member-countries in September 2010 amounted to $1.162 billion, a 25.4 percent share contribution to total imports. It was higher by 33.6 percent from $869.43 million registered in September 2009. Exports to ASEAN member-countries amounted $1.647 billion, resulting to a total trade of $2.808 billion and a trade deficit of $485.41 million.

September 2010 imports from European Union were valued at $376.66 million while exports to member-countries of European Union were worth $557.51 million. It aggregated to a total trade of $934.17 million and a trade surplus of $180.84 million for the Philippines.

Figure 5 Philippine Imports by Selected Economic Bloc in September : 2009 & 2010
(F.O.B. Value in Million US Dollars)

Notes:

^1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan

²/ - includes Brunei Darusalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam

^3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland

Technical Notes:

1. Adjustments on electronic import statistics are based on the transactions that pass through the Automated Cargo Operating System (ACOS) of the Bureau of Customs (BOC).

2. Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings. This is in compliance with NSCB Resolution No. 03, Series of 2005 entitled "Approving and Adopting the 2004 Philippine Standard Commodity Classification" by all concerned government agencies and instrumentalities.

(Sgd.) CARMELITA N. ERICTA
Administrator

Source: Foreign Trade Statistics Section
             Industry and Trade Statistics Department
             National Statistics Office
             Manila, Philippines