Highlights of the Philippine Export and Import Statistics : January 2019

Reference Number: 2019-038
Release Date: 12 March 2019

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

JANUARY 2019 (Preliminary)

 

 

Exports

Imports

January 2019 p

January 2018 r

January 2019 p

January 2018 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

5,278.98

5,372.87

9,034.81

8,535.65

        Year-on-Year Growth (Percent)

-1.7

-4.0

5.8

7.7

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

2,791.44

2,744.73

2,351.68

2,259.34

        Year-on-Year Growth (Percent)

1.7

2.4

4.1

15.6

 

Top 10 Philippine Exports to All Countries: January 2019 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Bananas (Fresh)
127.8  
Electronic Equipment and Parts
 -37.9
Cathodes & Sections Of Cathodes, Of Refined Copper
61.2 
Metal Components
  -35.8 
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ship
 54.5  
Gold
-33.3
Chemicals
5.4 
Machinery and Transport Equipment
  -24.2 
Electronic Products
 1.7  
Other Manufactured Goods
    -15.3
 
 
Top 10 Philippine Imports from All Countries: January 2019 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Cereals and Cereal Preparations
 82.5 
Iron and Steel
-8.7
Transport Equipment
33.6 
Mineral Fuels, Lubricants and Related Materials
-9.9
Miscellaneous Manufactured Articles
 15.8 
 
 
Plastics in Primary and Non-primary Form
11.1
 
  
Telecommunication Equipment and Electrical Machinery
  7.3 
 
   
Other Food and Live Animals
5.6
 
    
Industrial Machinery and Equipment
4.6    
Electronic Products
4.1    
    p - preliminary
    r - revised
 
 
 
 

1. TOTAL TRADE AMOUNTS TO $14.31 BILLION

The country’s total external trade in goods in January 2019 reached $14.31 billion, reflecting an increment of 2.9 percent from the $13.91 billion recorded value during the same month of the previous year. Of the total external trade, $5.28 billion or 36.9 percent were exported goods and $9.03 billion or 63.1 percent were imported goods.

Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $3.76 billion deficit in January 2019, from $3.16 billion deficit in January 2018.  (Tables 1, 2 and 3)

2. EXPORTS DECLINE BY 1.7 PERCENT WHILE IMPORTS INCREASE BY 5.8

The country’s total export sales in January 2019 was valued at $5.28 billion, indicating a decrement of 1.7 percent, from $5.37 billion in January 2018. This was due to the decreases in export sales of the five of the top 10 commodities, namely, electronic equipment and parts (-37.9%); metal components (-35.8%); gold (-33.3%); machinery and transport equipment (-24.2%); and other manufactured goods (-15.3%).  (Table 2)

On the other hand, total imported goods for the period of January 2019 rose by 5.8 percent, from a value of $8.54 billion in January 2018 to $9.03 billion in January 2019. The increment was triggered by the positive growth in eight of the top 10 major import commodities. These were: cereals and cereal preparations (82.5%); transport equipment (33.6%); miscellaneous manufactured articles (15.8%); plastics in primary  and  non-primary forms (11.1%); telecommunication equipment and electrical machinery (7.3%); other food and live animals (5.6%); industrial machinery and equipment (4.6%); and electronic products (4.1%). (Table 3) 

 

3. EXPORTS OF ELECTRONIC PRODUCTS INCREASE BY 1.7 PERCENT

Electronic Products continued to be the country’s top export with total earnings of $2.79 billion. This amount, which comprised 52.9 percent of the total exports’ revenue in January 2019, went up by 1.7 percent, from $2.74 billion export receipts in the same month of the previous year. Components/Devices (Semiconductors) accounted for the biggest share of 38.6 percent, among electronic products.  It went up by 0.9 percent, from $2.02 billion in January 2018 to $2.04 billion in January 2019.

Machinery and Transport Equipment ranked second, with a total export receipts of $317.66 million or 6.0 percent of the total. Export of this commodity dropped by 24.2 percent, from $418.81 million export revenue posted in the same month of the previous year.

Other Manufactured Goods placed third, with $312.85 million earnings or a 5.9 percent share to the total export receipts in January 2019.  Export of this commodity decreased by 15.3 percent from the previous year’s value of $369.29 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships was the fourth top export earner, with a revenue of $195.83 million or a share of 3.7 percent. Export sales of this commodity group increased by 54.5 percent, from the $126.74 million recorded in January 2018. 

Bananas (Fresh) ranked fifth, with $160.57 million or a share of 3.0 percent to total export earnings in January 2019. It grew by 127.8 percent from an export value of $70.50 million in January 2018.

Completing the list of the top 10 exports and their corresponding sales were:

  • Cathodes and Sections of Cathodes, of Refined Copper with $137.41 million, which grew by 61.2 percent;
  • Metal Components with $126.91 million, which decreased by 35.8 percent;
  • Gold with $122.09 million, which went down by 33.3 percent;
  • Chemicals with $92.49 million, which increased by 5.4 percent; and
  • Electronic Equipment and Parts with $88.90 million, which went down by 37.9 percent.

Total receipts from the top 10 major exports amounted to $4.35 billion or a share of 82.3 percent of the total export.  This recorded a decrement of 1.8 percent from the January 2018 export value of $4.43 billion. (Table 2)

4. ELECTRONIC PRODUCTS COMMODITY GROUP SHARES 26.0 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top 10 imports for January 2019 amounted to $6.54 billion, an increase of 8.1 percent from the January 2018 import value of $6.05 billion.  (Table 3)

Import bill of Electronic Products, valued at $2.35 billion, accounted for the highest total imports with a share of 26.0 percent to the total imports. Import of this commodity group increased by 4.1 percent from the $2.26 billion posted in January 2018. Among electronic products, Components/Devices (Semiconductors) accounted for the biggest contribution of 18.1 percent.  It went up by 3.0 percent, from $1.58 billion in January 2018 to $1.63 billion in January 2019.

Transport Equipment came second, with imports valued at $851.88 million or 9.4 percent of the total import value.  Import of this commodity rose by 33.6 percent from the January 2018 value of $637.56 million.

Mineral Fuels, Lubricants and Related Materials placed third, with import bill amounting to $820.54 million or 9.1 percent of the total import value. It went down by 9.9 percent from the January 2018 value of $911.09 million.

Industrial Machinery and Equipment ranked fourth, with imports valued at $607.13 million or a share of 6.7 percent. Imports of this commodity increased by 4.6 percent over the January 2018 value of $580.22 million.

Imports of Cereals and Cereal Preparations ranked fifth, with a value of $414.18 million or a share of 4.6 percent. Import of this commodity expanded by 82.5 percent from $226.98 million in January 2018.

Completing the list of the top 10 imports for January 2019 were:

  • Iron and Steel, $407.62 million which dropped by 8.7 percent;
  • Miscellaneous Manufactured Articles, $310.69 million which went up by 15.8 percent;
  • Other Food and Live Animals, $276.21 million which grew by 5.6 percent;
  • Telecommunication Equipment and Electrical Machinery, $268.39 million which increased by 7.3 percent; and
  • Plastics in Primary and Non-Primary Forms, $232.36 million which rose by 11.1 percent.

5. EXPORTS OF MANUFACTURED GOODS DECREASE BY 2.5 PERCENT

Exports of Manufactured Goods, representing 82.9 percent of total exports, were valued at   $4.37 billion in January 2019 (Table 4).  This amount declined by 2.5 percent compared with the $4.49 billion export value in January 2018.

Total Agro-Based Products, with a share of $375.41 million or 7.1 percent, grew by 3.8 percent in January 2019.

Exports from Mineral Products, valued at $359.11 million or a share of 6.8 percent, slid by 10.7 percent in January 2019.

Merchandise exports from Special Transactions, amounting to $99.31 million or 1.9 percent of the total export revenue, increased by 23.5 percent in January 2019, from the previous year’s figure of $80.44 million.

Petroleum Products, with $46.15 million or 0.9 percent share, expanded by 60.8 percent from $28.69 million in the same month of previous year.

Exports of Forest Products, amounting to $24.49 million or 0.5 percent share to the total exports went up by 116.3 percent in January 2019.

6. IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 39.3 PERCENT OF THE TOTAL IMPORT VALUE

By major type of goods, imports of Raw Materials and Intermediate Goods posted the largest contribution of 39.3 percent to total import value. It increased by 1.8 percent, from $3.49 billion in January 2018 to $3.55 billion in January 2019.  Semi-Processed Raw Materials had a share amounting to $3.19 billion or 35.3 percent of the total imports.  Import of this commodity went up by 2.2 percent from the $3.12 billion posted value in January 2018. (Table 5)

Imports of Capital Goods, valued at $2.99 billion, contributed 33.0 percent in January 2019.  It increased by 8.9 percent from the January 2018 import value of $2.74 billion.

Imports of Consumer Goods, amounting to $1.60 billion, had a share of 17.8 percent to the total imports in January 2019.  It went up by 19.1 percent from the $1.35 billion registered value in January 2018.

Imports of Mineral Fuels, Lubricants and Related Materials, contributing 9.1 percent to total imports, dropped by 9.9 percent, from $911.09 million in January 2018 to $820.54 million in January 2019.  Petroleum Crude, valued at $369.51 million, comprised a share of 4.1 percent to total imports.

Moreover, imports of Special Transactions with a 0.8 percent share to total imports, expanded by 55.1 percent, from $48.10 million in January 2018 to $74.62 million in January 2019.

7. EXPORTS TO JAPAN ACCOUNT FOR 16.8 PERCENT

Total exports receipt recorded by the country’s top 10 market destinations in January 2019 reached $4.34 billion or 82.2 percent of the total exports. (Table 6)

Japan, including Okinawa, ranked first with an export value of $884.95 million or 16.8 percent of the total exports in January 2019.  Total exports to Japan fell by 3.0 percent, from the $912.12 million value posted in January 2018.

United States of America (USA), including Alaska and Hawaii, ranked second with an export value of $833.87 million or a share of 15.8 percent to total exports in January 2019.  Exports to this country reflected an increase of 8.4 percent, from the $769.10 million in January 2018.

Hong Kong placed third, with export shipments valued at $645.17 million or a share of 12.2 percent.  Exports to this country declined by 15.8 percent, from the $766.18 million recorded in January 2018.

People’s Republic of China placed fourth, with $640.79 million or 12.1 percent of the total exports.  This value grew by 2.3 percent from an export value of $626.34 million posted in January 2018.

Singapore, accounting for a 5.7 percent share to total exports or an export value of $298.43 million, ranked fifth.  Outbound shipments to this country dropped by 6.9 percent, from the $320.38 million posted in the same month of previous year.

Completing the top 10 market destinations in January 2019 were: Thailand, $241.93 million; Germany, $221.41 million; Korea, Republic of, $205.43 million; Netherlands, $200.56 million; and Taiwan, $168.35 million.  (Table 6)

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNT FOR 22.2 PERCENT

Import bills from the top 10 countries amounted to $6.88 billion or a share of 76.1 percent of the total imports in January 2019. (Table 7)

People’s Republic of China was the country’s biggest supplier of imports with 22.2 percent share to total imports in January 2019. Import bills to this country posted an increase of 24.5 percent or an amount of $2.01 billion, from $1.61 billion in January 2018.

Republic of Korea, placed second with an import value of $789.56 million in January 2019 or a share of 8.7 percent. Imports from this country decreased by 12.3 percent, from $899.99 million in January 2018.

Japan, including Okinawa, which ranked third, contributed 8.7 percent or an import value of $789.00 million in January 2019. This recorded a decrement of 6.2 percent from the January 2018 value amounting to $840.75 million.

United States of America (includes Alaska and Hawaii) came fourth with a 7.2 percent share to the total import bills in January 2019.  Its total import bills contracted by 7.3 percent, from $701.65 million in January 2018 to $650.68 million in January 2019.

Thailand came fifth with imports valued at $602.67 million in January 2019 or a share of 6.7 percent. Import bills from this country increased by 11.7 percent, from $539.65 million in January 2018.

Completing the list of major sources of imports for the month of January 2019 were:  Indonesia, $502.46 million; Singapore, $439.60 million; Taiwan, $423.29 million; Vietnam, $356.86 million; and Malaysia (includes Sabah and Sarawak), $316.74 million. (Table7)

9. EXPORTS TO COUNTRIES IN EAST ASIA COMPRISE 48.2 PERCENT

By economic bloc, the bulk of the country’s merchandise exports in January 2019, which comprised 48.2 percent of total exports or $2.55 billion, went to countries in East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan).  This amount decreased by 6.7 percent, from $2.73 billion in January 2018. (Table 9)

Total exports to ASEAN, valued at $844.74 million, had a share of 16.0 percent of total merchandise exports. This went up by 10.0 percent from the recorded value of $768.20 million in January 2018. (Table 9)

10. IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 47.8 PERCENT

By economic bloc, East Asia was the biggest source of the country’s imports in January 2019, amounting to $4.31 billion or 47.8 percent of the total imports.  This amount grew by 6.6 percent from $4.05 billion in January 2018. 

Commodities imported from ASEAN member countries reached $2.25 billion. This amount, which comprised 24.9 percent of the total imports, recorded an increase of 8.0  percent from the January 2018 import value of $2.08 billion.

Imports from European Union member countries registered a value of $679.16 million in January 2019. It expanded by 22.0 percent from the January 2018 value of $556.87 million. (Table 10)

 

 

EXPLANATORY 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 copies of these accomplished forms.  These are the following documents:

  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)

The output of the Automated Export Documentation System (AEDS) of the BOC is being 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), 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.  All documents received after the cut-off date, however, are processed and included in the generation of the revised monthly statistical tables.

The digitized copies of all documents are provided by BOC and PEZA to PSA on a monthly basis through email.

Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release for a reference month is due 40 days after every 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 a holiday, the date of release is moved accordingly.

The 2015 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed 10-digit code level for statistical purposes.

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

 

 

(Sgd.) LISA GRACE S. BERSALES, Ph. D.
Undersecretary
National Statistician and Civil Registrar General
 
 
 
 
 

 

 

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