Highlights of the Philippine Export and Import Statistics : May 2019

Reference Number: 2019-116
Release Date: 10 July 2019

 

 

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

MAY 2019 (Preliminary)

 

 

Exports

Imports

May 2019 p

May 2018 r

May 2019 p

May 2018 r

TOTAL

 

 

 

 

FOB Value (in Million US Dollars)

6,154.90

6,091.89

9,429.52

9,972.39

Year-on-Year Growth (Percent)

1.0

1.7

-5.4

17.4

Electronic Products

 

 

 

 

FOB Value (in Million US Dollars)

3,449.80

3,248.33

2,462.51

2,415.07

Year-on-Year Growth (Percent)

6.2

6.0

2.0

18.9

 

Top 10 Philippine Exports and Imports to and from All Countries: May 2019 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Exports
Copper Concentrates
192.1
Machinery and Transport Equipment
-59.2
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ship
31.7
Other Manufactured Goods
-5.4
Banana (Fresh)
28.6
 
 
Chemicals
20.1
 
 
Metal Components
14.0
 
 
Gold
8.3    
Other Mineral Products
7.0    
Electronic Products
6.2    
Imports
Cereals and Cereal Preparations
72.1
Iron and Steel
-25.5
Miscellaneous Manufactured Articles
8.1
Transport Equipment
-19.3
Electronic Products
2.0
Mineral Fuels, Lubricants and Related Materials
-17.2
Telecommunication Equipment and Electrical Machinery
0.2
Plastics in Primary and Non-primary Forms
-13.7
 
 
Industrial Machinery and Equipment
-4.8
 
 
Other Food and Live Animals
-3.7
            r - revised p - preliminary
 
 
Figure 1
 

The country’s total external trade in goods in May 2019 amounted to $15.58 billion, reflecting a decrement of 3.0 percent from the $16.06 billion external trade in the same month of the previous year. Of the total external trade, $6.16 billion or 39.5 percent were exported goods and $9.43 billion or 60.5 percent were imported goods.

The country’s balance of trade in goods (BoT-G) decreased to $3.28 billion deficit in May 2019, from $3.88 billion deficit in May 2018.  (Tables 1, 2 and 3)

 
                 Figure 2
 

1. Exports increase by 1.0 percent while imports decrease by 5.4 percent

The country’s total export sales in May 2019 was $6.16 billion, indicating an increase of 1.0 percent, from the $6.09 billion total export sales in May 2018. This was due to the increases in export sales of the eight of the top 10 major export commodities, namely, copper concentrates (192.1%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (31.7%); fresh bananas (28.6%); chemicals (20.1%); metal components (14.0%); gold (8.3%); other mineral products (7.0%); and electronic products (6.2%). 

By commodity group, export of electronic products continued to be the country’s top export with total earnings of $3.45 billion. This amount, which accounted for 56.1 percent of the total exports’ revenue in May 2019, rose by 6.2 percent from the $3.25 billion export receipt in May 2018.  Components/devices (semiconductors) accounted for the biggest share of 40.5 percent among the electronic products.  It posted an increment of 4.5 percent, from $2.39 billion in May 2018 to $2.50 billion in May 2019.

On the other hand, total imported goods in May 2019 slid by 5.4 percent, from $9.97 billion in May 2018 to $9.43 billion in May 2019.  The decrease was due to the declines in six of the top 10 major import commodities. These were iron and steel (-25.5%);  transport equipment (-19.3%); mineral fuels, lubricants and related materials (17.2%); plastic in primary and non-primary forms (-13.7%);  industrial machinery and equipment (-4.8%); and other food and live animals (-3.7%). 

Among the imported commodity group, import bills of electronic products, valued at $2.46 billion, accounted for the highest share of 26.1 percent to the total imports.  Import of this commodity group went up by 2.0 percent, from $2.42 billion in May 2018. Among the electronic products, components/devices (semiconductors) accounted for the biggest share of 17.4 percent.  This commodity group reflected a minimal increase of 0.4 percent, from $1.64 billion in May 2018 to $1.65 billion in May 2019.  (Table 3)

 
Figure 3
 

2. Exports of manufactured goods decline by 0.4 percent while imports of raw materials and intermediate goods decrease by 10.7 percent

By major type of goods, exports of manufactured goods, representing 82.6 percent of the total exports, were valued at $5.08 billion in May 2019. It decelerated by 0.4 percent from the $5.10 billion export value in May 2018. This was followed by exports of mineral products and total agro-based products amounting to $458.16 million and $453.93 million, respectively. (Table 4)

On the other hand, imports of  raw materials and intermediate goods posted the largest contribution of 37.8 percent to the total import value. It went down by 10.7 percent, from $4.00 billion in May 2018 to $3.57 billion in May 2019.  Semi-processed raw materials contributed $3.23 billion or 34.3 percent to the total imports.  

Imports of capital goods ranked second, sharing 31.6 percent or an import value of $2.98 billion. Consumer goods placed third with a share of 17.1 percent and import value worth $1.61 billion. (Table 5)

Figure 4

                               

3. Exports to USA account for 17.6 percent while imports from People's Republic of China share 22.8 percent

By major trading partners, exports to the United States of America (USA) posted the highest value of $1,081.10 million or a share of 17.6 percent to the total exports in May 2019.  Exports to this country increased by 9.8 percent, from $878.26 million in May 2018.  Other major export trading partners were People’s Republic of China, $896.95 million;
Japan, $862.15 million; Hong Kong,  $764.83 million; and Singapore, $329.17 million. (Table 6)

People’s Republic of China was the country’s biggest supplier of imported goods with 22.8 percent share to total imports in May 2019. Import payments from this country reached     $2,145.43 billion, from $2,015.75 million in May 2018.  Other major import trading partners were Japan, $822.32 million;  Republic of Korea, $750.06 million;  United States of America, $710.60 million; and Singapore, $665.53 million. (Table 7)

Figure 5

 

4. Exports to countries in East Asia comprise 47.9 percent while imports reach 47.0 percent

By economic bloc, majority of the country’s merchandise exports in May 2019, which comprised of 47.9 percent of the total exports or $2.95 billion, went to countries in East Asia.  This amount contracted by 0.6 percent, from $2.97 billion in May 2018.  Similarly, East Asia was the biggest supplier of the country’s imports in May 2019, amounting to $4.43 billion or 47.0 percent of the total imports.  This amount decreased by 6.8 percent, from $4.75 billion in May 2018.

Total exports to the ASEAN member countries was valued at $936.03 million, contributing a share of 15.2 percent to total export value.  It went down by 1.2 percent from the export value of $947.04 million in May 2018. Commodities imported from ASEAN member countries reached $2.83 billion. It contributed 30.1 percent to total import and grew by 16.1 percent from the recorded import value of $2.44 billion in May 2018.

Goods exported to European Union (EU) member countries registered a value of $746.30 million or a share of 12.1 percent.  It went down by 17.5 percent from its value of $905.03 million in May 2018. Moreover, imports from the European Union (EU) recorded a value of $698.29 million or a share of 7.4 percent. It rose by 10.5 percent from the May 2018 value of $631.67 million. (Table 10)

Figure 6

 
 
 
 

 

(Sgd.) CLAIRE DENNIS S. MAPA, Ph.D.
           Undersecretary
           National Statistician and Civil Registrar General

 

 

 


 

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.  The PSA collects regularly these documents which are as follows:

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

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, which is implemented through the BOC e-Customs Project.

All documents (hard copies and e-files) received within the cut-off date, which is every 25th day of the month, are compiled, processed, summarized, analyzed and disseminated through monthly statistical tables and Press Releases. Processing includes coding, editing, review and validation of results. All documents received after the cut-off date are included in the generation of the revised monthly statistical tables which are available 10 to 15 working days after the press release date.

The Press Release for a reference month is due 40 days after the reference month.  However, if the due date falls on a Saturday, release is made a day earlier (Friday). If it falls on a Sunday or Monday the release is 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 10-digit code level for statistical purposes.

Data requests on international merchandise trade statistics can be made at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75 or email at J.Soliven@psa.gov.ph).

 

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Trade Statistics Division 
Economic Sector Statistics Service
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