Philippine Export and Import Performance: April 2017

Reference Number: 2017-066
Release Date: 09 June 2017

PHILIPPINE EXPORT AND IMPORT PERFORMANCE

April 2017 (Preliminary)

 

 

Exports

Imports

April 2017 p

April 2016 r

April 2017 p

April 2016 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

4,805.40

4,284.87

6,857.45

6,864.59

        Year-on-Year Growth (Percent)

12.1

-3.4

-0.1

35.9

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

2,445.30

2,288.75

1,809.38

1,812.15

        Year-on-Year Growth (Percent)

6.8

3.3

-0.2

76.9

 

 

Top 10 Philippine Exports to All Countries: April 2017 p
(Year-on-Year Growth in Percent)

Gainers

Loser

  Gold

2,740.3  
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
 -3.7
  
Other Mineral Products
   199.7    
  
Coconut Oil
     59.8    
  
Machinery and Transport Equipment
     50.5    
  
Metal Components
     27.9    
  
Other Manufactures
     11.7    
  
Electronic Products
       6.8    
  
Chemicals
       5.6    

 

Top 10 Philippine Imports from All Countries: April 2017 p
(Year-on-Year Growth in Percent)

Gainers

Losers

  
Metalliferous Ores and Metal Scrap
3,554.8   
Other Food and Live Animals
-24.3
  
Iron and Steel
      27.8   
Miscellaneous Manufactured Articles
-12.3
  
Transport Equipment
        2.4   
Plastics in Primary  and  Non-Primary Forms
-12.2
      
Industrial Machinery and Equipment
  -5.1
      
Telecommunication Equipment and Electrical Machinery
  -3.9
     
Mineral Fuels, Lubricants and Related Materials
  -2.0
      
Electronic Products
  -0.2

                                                                             p - preliminary, r - revised

 

TOTAL TRADE VALUE SUMMED UP TO $11.663 BILLION IN APRIL 2017

The country’s total external trade in goods in April 2017 reached $11.663 billion, increasing by 4.6 percent from $11.149 billion in April 2016. This was attributed to the increased export transactions in April 2017. Total exports rose by 12.1 percent to $4.805 billion in 2017 from $4.285 billion in 2016.  Meanwhile, total imports slightly decreased by 0.1 percent from $6.865 billion in 2016 to $6.857 billion in 2017.  However, the country’s balance of trade in goods (BoT-G) registered a $2.052 billion deficit in 2017 lower than the $2.580 billion deficit in April 2016 (Table 1 and 1a).

EXPORTED GOODS IN APRIL 2017 GROW BY 12.1 PERCENT

The country’s total export sales amounted to $4.805 billion in April 2017, an increase of 12.1 percent from the $4.285 billion recorded value in the same month a year ago. The positive growth was mainly brought about by the significant increases in eight major commodities out of the top ten commodities. These are gold (2,740.3%); other mineral products (199.7%); coconut oil (59.8%); machinery and transport equipment (50.5%); metal components (27.9%); other manufactures (11.7%); electronic products (6.8%); and chemicals (5.6%) (Table 2).

        

EXPORTS OF ELECTRONIC PRODUCTS INCREASE BY 6.8 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.445 billion, accounting for 50.9 percent of the total export revenue in April 2017. It increased by 6.8 percent from $2.289 billion registered in April 2016.  Components/Devices (Semiconductors), having the biggest share of 36.8 percent among electronic products, increased by 7.7 percent to $1.767 billion in April 2017 from $1.641 billion in April 2016.

Machinery and Transport Equipment was the second top export earner with export revenue of $354.00 million.  Export sales for this commodity group went up by 50.5 percent from $235.24 million in April 2016.

Other Manufactures ranked third, with 7.3 percent share to the total export receipts and posting $349.56 million. It recorded an increase of 11.7 percent from April 2016 value of $312.99 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fourth, with a contribution of 3.0 percent share to the total export receipts, recording sales of $145.80 million in April 2017.  It  registered a 3.7 percent decrease from the previous year’s $151.33 million.

Chemicals was recorded as the country’s fifth top export earner with value at $145.72 million or 3.0 percent share to total exports. It went up by 5.6 percent from $137.98 million in same month of 2016.

Rounding up the list of the top ten exports with corresponding export sales for the month of April 2017 were:

  • Cathodes & Sections of Cathodes, Of Refined Copper with   $127.48 million; 
  • Gold with  $122.81 million, grew by 2,740.3 percent, recorded the highest year-on-year change among the top ten exports;
  • Metal Components with $111.29 million, increased by 27.9 percent;
  • Other Mineral Products with $110.97 million, rose by 199.7 percent; and
  • Coconut Oil with $97.85 million, expanded by 59.8 percent.

Total receipts from the top ten exports reached $4.011 billion or 83.5 percent of the total exports and growing by 21.0 percent in April 2017. (Table 2)

Total exports for January to April  2017 valued at  $20.323 billion grew by 15.3 percent compared from $17.632 billion in same period a year ago. (Table 2a)

 

IMPORTS DECREASE BY 0.1 PERCENT IN APRIL 2017

The total imported goods by the country for the month of April 2017 amounted to $6.857 billion, a decrease of 0.1 percent from $6.865 billion recorded during the same period a year ago.   The decrease was due to the negative performance of seven out of the top ten major imported commodities for the month.  This includes other food and live animals (24.3%); miscellaneous manufactured articles (12.3%); plastics in primary  and  non-primary forms (12.2%); industrial machinery and equipment (5.1%); telecommunication equipment and electrical machinery (3.9%); mineral fuels, lubricants and related materials (2.0%); and electronic products (0.2%).  (Table 3)

 

ELECTRONIC PRODUCTS ACCOUNT FOR 26.4 PERCENT OF TOTAL IMPORT BILL

Total payment  for the country’s   top ten imports for April 2017 reached   $4.987 billion or 72.7 percent of the total import bill.  (Table 3)

Inbound shipments of Electronic Products in April 2017 accounted for 26.4 percent of the total import bill with value amounting to $1.809 billion.  It decreased by 0.2 percent over the last year's figure of $1.812 billion.  Components/Devices (Semiconductors),   had the biggest share  of 18.3 percent among electronic products,  increasing by 7.8 percent to $1.253 billion in April 2017 from $1.163 billion in April 2016.

Minerals Fuels, Lubricants and Related Materials placed second with  10.6 percent share to total imports valued at $727.48 million.  This registered a decrease of 2.0 percent from its previous year’s level of $742.36 million.

Transport Equipment, contributing 10.4 percent to the total import bill was the country’s third top import for the month amounting to  $714.00 million.   It went up by  2.4 percent compared to last year’s value of $697.30 million.

Imports of Industrial Machinery and Equipment ranked fourth with 6.9 percent share and reported value of $471.08 million in April 2017.  It fell by 5.1 percent from $496.38 million in April 2016.

Iron and Steel ranked fifth, with 5.0 percent share to the total imports which was valued at $344.35 million in April 2017.  It registered a 27.8 percent increase from its year ago level of $269.38 million.

Rounding up the list of the top ten imports for April 2017 were: 

  • Metalliferous Ores and Metal Scrap  valued at $210.18 million; highest positive growth of 3,555 percent among the top ten imports. 
  • Other Food and Live Animals, $206.81 million. 
  • Miscellaneous Manufactured Articles, $175.31 million
  • Telecommunication Equipment and Electrical Machinery, $169.84 million   
  • Plastics in Primary and Non-Primary Forms, $158.24 million 

Total imports for the first four months of  2017 valued at  $28.910 billion grew by 11.1 percent compared with $26.020 billion in January to April 2016. (Table 3a)

 

EXPORTS OF MANUFACTURED GOODS WENT UP BY 3.4 PERCENT

Outward shipments of Manufactured Goods were valued at $4.006 billion, accounting for 83.4 percent share of the total export receipts in April 2017.  It went up by 3.4 percent from $3.875 billion recorded in April 2016 (Table 4). 

Mineral Products with a 8.2 percent share, increased by 571.0 percent to $394.30 million in April 2017 from $58.77 million in April 2016.

Exports of Total Agro-Based Products, with a 5.9 percent share to total exports amounted to $285.43 million.   It rose by 11.4 percent from $256.14 million in April 2016.

Merchandise exports from Special Transactions, sharing 1.7 percent of the total exports revenue, went down by 11.5 percent from $91.39 million in April 2016 to $80.86 million in April 2017. 

Petroleum Products, with 0.6 percent share, increased by 674.6 percent to $26.70 million in April 2017 from $3.45 million in same month of previous year.

Moreover, sales of Forest Products, accounting for 0.3 percent share of the total exports,   went up by 16,076 percent to $12.29 million in April 2017 from $0.08 million reported value in same month of 2016.

PURCHASES OF RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 40.4 PERCENT OF THE TOTAL IMPORTS

By major type of goods, payments for inward shipments of Raw Materials and Intermediate Goods accounted for 40.4 percent of the total import.  It increased by 8.2 percent to $2.768 billion in April 2017 from $2.559 billion in April 2016.  Semi-Processed Raw Materials,  having the biggest share of this commodity group at 34.6 percent, was $2.373 billion.  It grew by 0.9 percent compared to $2.353 billion in April 2016. (Table 5)

Total importation of Capital Goods in April 2017 were valued at $2.282 billion,  accounting for 33.3 percent share of the total import.  It decreased by 2.3 percent over last year's figure of $2.336 billion. 

Purchases of Consumer Goods recorded 15.3 percent share with a total import bill valued at $1.052 billion in April  2017.   It recorded a negative growth of 11.2 percent from $1.184 billion registered in April 2016.

Mineral Fuels, Lubricants and Related Materials with 10.6 percent share to total imports,   decreased by 2.0 percent from $742.36 million in  April  2016  to  $727.48 million in April 2017.  Other mineral fuel and lubricants such as gas oils, regular and premium unleaded motor spirit and aviation spirit contributed, the biggest share of imports for this commodity group at 6.5 percent and valued $448.82 million.  (Table 5)

Furthermore,   imports of Special Transactions went down by 35.6 percent from $42.67 million recorded in April 2016 to $27.48 million in April 2017.

JAPAN ACCOUNTS FOR 14.8 PERCENT TO TOTAL EXPORTS IN APRIL 2017

Total export receipts from the country’s top ten market destinations for the month of April 2017 was valued at $3.764 billion or 78.3 percent share of the total (Table 6). 

Japan including Okinawa ranked first, accounting for 14.8 percent to total export, with receipts valued at $710.03 million in April 2017. It recorded a decrease of 16.6 percent from $851.86 million in same month last year.

United States of America (USA) including Alaska and Hawaii ranked second with revenue amounting to $653.05 million, comprising 13.6 percent share to total export for April 2017.  It decreased by 6.7 percent from $699.60 million recorded in the same month a year ago.

Hong Kong ranked third with $646.86 million or 13.5 percent share of the total export.  It grew by 36.8 percent from $472.85 million in the same month year ago.

People’s Republic of China with 11.1 percent share to total export, ranked fourth with shipments valued at $534.60 million.  It went up by 26.4 percent from $423.06 million in same month a year ago.

Singapore placed fifth, representing a 6.3 percent share to total export, with export earnings worth $304.92 million. It decreased by 14.5 percent from $356.43 million posted in April 2016.

Other top ten market destinations for   April 2017 were: Thailand,   $189.92 million; Germany, $187.26 million; Republic of Korea, $181.94 million; Taiwan, $179.09 million; and Malta, $176.17 million.

 

IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNT FOR 18.1 PERCENT

Aggregate payments from the top ten import sources for April 2017 amounted to $5.322 billion or 77.6 percent of the total. 

People’s Republic of China remained as the country’s biggest source of imports at 18.1 percent share in April 2017.  Payments were recorded at $1.240 billion, a decrease of 9.0 percent from $1.363 billion in April 2016.

Japan including Okinawa came second, contributing 12.5 percent or $854.43 million to the total import bill in April 2017.  It grew by 7.3 percent from its April 2016 value of $796.04 million.    

Republic of Korea,  was the third biggest source of imports for April 2017 with   8.6 percent share to the total import bill amounting to $592.12 million, an increase of 38.9 percent from $426.41 million in April 2016. 

United States of America (USA), including Alaska and Hawaii placed fourth, accounting for 7.7 percent share of the total import worth $530.74 million in   April   2017.   It went down by 13.6 percent from $614.60 million in  April 2016. 

Thailand ranked fifth, accounting for 6.5 percent share of the total import bill in April  2017,  recorded a negative growth of 13.1 percent from $514.24 million in April 2016 to $446.87 million in  April 2017. 

Other major sources of imports for the month of April 2017 were: Singapore, $434.89 million; Indonesia, $419.37 million; Taiwan, $340.78 million; Malaysia (includes Sabah and Sarawak), $253.03 million; and Hong Kong, $210.60 million.

EXPORTS BY COUNTRIES IN EAST ASIA ACCOUNTED FOR 46.9 PERCENT

By economic bloc, the country’s merchandise exports in April 2017 went to countries in East Asia,   accounting for 46.9 percent share to total export valued at $2.254 billion.  It increased by 10.0 percent from $2.048 billion of April 2016.        

Exports to European Union member countries, with 15.4 percent share to total merchandise exports amounted to $739.51 million.  It went up by 36.0 percent from $543.95 million recorded in April 2016.

Commodities exported to ASEAN member countries comprised 16.0 percent of the total export in April 2017 and was valued at $767.73 million. This registered a positive growth of 6.1 percent from $723.62 million posted in same month a year ago (Table 9).   

 

IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 47.2 PERCENT

By economic bloc, East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) was the biggest source of the country’s imports in April 2017 accounting for 47.2 percent of the total import valued at $3.238 billion.  It increased by 1.2 percent from $3.201 billion in April 2016. 

Commodities imported from ASEAN  member countries were valued at $1.741 billion,   contributing 25.4 percent share to total and registered a decrease of 0.8 percent from $1.756 billion recorded in April 2016. 

Imports from European Union were valued at $495.76 million.  It dropped by 18.2 percent compared to a year ago value of $605.75 million.  (Table 10).

 

 

 

 

 

Technical Notes

 

Export and Import trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export and import documents submitted to the Bureau of Customs (BOC) by exporters and importers or their authorized representatives as required by law.  PSA collects the copy of the accomplished forms by the exporter and importer.  The following documents are compiled by PSA:

        1.    Export Declaration (ED – DTI form)
        2.    Import Entry & Internal Revenue Declaration (BOC IEIRD Form 236)
        3.    Informal Import Declaration and Entry (BOC Form 177)
        4.    Single Administrative Documents (SAD)

With the automation of BOC documents, e-copies of the documents are made available to PSA on a monthly basis through email. The output of the Automated Export Documentation System (AEDS) is utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents.

Moreover, an electronic copy of the IEIRD, or SAD, is utilized to capture the monthly import figures.  SAD-IEIRD is an on-line submission of import documents either by brokers or companies.  These are transactions that pass through the Automated Cargo Operating System (ACOS) or now called the e2m (electronic to mobile) customs system; a system implemented through the BOC e-Customs Project.

All documents (hard copies and e-files) received before the cut-off date which is every 25th day of the month are compiled, processed and generated in monthly statistical tables for the preparation of Press Release. The Press Release is due every 10th day of each month.  However, if the 10th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday.  If the release date falls on holiday, the date of release is moved accordingly.

Revised statistical tables are made available 10 to 15 working days after the press release date. All documents received after the cut-off date, however, are processed and included in the generation of the revised statistical tables.

The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the imported commodities at the most detailed level for statistical purposes.

Data request of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

 

 

FOR THE NATIONAL STATISTICIAN: 

 

 

(Sgd.)  JOSIE B. PEREZ
Assistant Secretary
Deputy National Statistician, CTCO
Officer-in-Charge
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