Highlights of the Philippine Export and Import Statistics : October 2019

Reference Number: 2019-210
Release Date: 10 December 2019

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS
OCTOBER 2019 (Preliminary)

Table A.1  Summary of External Trade Performance: October 2019 and October 2018

  Exports Imports
October 2019p October 2018r October 2019p October 2018
TOTAL        
FOB Value (in Million US Dollars) 6,317.33 6,308.84 9,567.72 10,724.29
Year-on-Year Growth (Percent) 0.1 6.7 -10.8 26.2
 
Electronic Products        
FOB Value (in Million US Dollars) 3,543.18 3,309.91 2,422.33 2,744.29
Year-on-Year Growth (Percent) 7.0 2.4 -11.7 15.6
p – preliminary, r – revised

 

1. Total external trade decreases by 6.7 percent

The country’s total external trade in goods in October 2019 amounted to USD15.89 billion, which posted a decrement of 6.7 percent from the USD17.03 billion external trade in the same month of the previous year.  Of the total external trade, USD6.32 billion or 39.8 percent were exported goods and USD9.57 billion or 60.2 percent were imported goods.  (Figure 1).

The country’s balance of trade in goods (BoT-G) in October 2019 recorded a USD3.25 billion deficit which was lower by 26.4 percent from the USD4.42 billion deficit in October 2018.
(Figure 1, Tables 1, 2 and 3)

Figure 1

2. Exports up by 0.1 percent

The country’s total export sales in October 2019 was USD6.32 billion, which reflected an increment of 0.1 percent from the USD6.31 billion total export sales in October 2018.  This was due to the increases in the export sales of seven of the top 10 major export commodities, namely, travel goods and handbags (155.9%); other mineral products (84.9%); gold (52.9%); fresh bananas (15.7%); electronic products (7.0%); other manufactured goods (4.6%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (2.0%).  (Table A.2)

 

Table A.2  Top 10 Philippine Exports to All Countries:  October 2019

Year-on-Year Growth in Percent

Gainers Losers
Travel Goods and Handbags 155.9 Machinery and Transport Equipment -42.7
Other Mineral Products 84.9 Chemicals -18.4
Gold 52.9 Metal Components -16.7
Bananas (Fresh) 15.7    
Electronic Products 7.0    
Other Manufactured Goods 4.6    
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships 2.0    
p – preliminary, r- revised

 

3. Exports of electronic products account for 56.1 percent of the total exports

By commodity group, exports of electronic products continued to be the country’s top export with total earnings of USD3.54 billion.  This amount, which accounted for 56.1 percent of the total exports in October 2019, went up by 7.0 percent from the USD3.31 billion export receipt in October 2018.  (Figure 2).

Figure 2

4. Exports of manufactured goods increase by 1.1 percent

By major type of goods, exports of manufactured goods accounted for 84.7 percent of the total exports or a value of USD5.35 billion in October 2019.  It  went up by  1.1 percent from USD5.29 billion export value registered  in October 2018.  (Figure 3)

Figure 3

5. Among the Philippine’s major trading partners, United States of America (USA) accounts for the highest export value

By major trading partner, exports to the United States of America (USA)  comprised the highest value of USD1.07 billion or a share of 17.0 percent to the total exports in October 2019.  Exports to this country grew by 7.9 percent, from USD995.32 million in October 2018. Other major export trading partners were Japan, USD971.68 million; Hong Kong, USD882.79 million; People’s Republic of China, USD836.97 million; and Republic of Korea, USD337.65 million. (Figure 4)

Figure 4

6. Exports to countries in East Asia comprise 50.6 percent

By economic bloc, 50.6 percent of the country’s merchandise exports in October 2019 or USD3.20 billion went to countries in East Asia.  This amount grew by 5.9 percent, from USD3.02 billion in October 2018.  (Figure 5)

Figure 5

 

7. Imports decrease by 10.8 percent

Total imported goods in October 2019 contracted by 10.8 percent, from USD10.72 billion in October 2018 to USD9.57 billion in October 2019.  The decrease was due to the decrements of nine of the top 10 major import commodities. These were iron and steel (-31.7%); cereals and cereal preparations (-18.1%); industrial machinery and equipment (-14.6%); mineral fuels, lubricants and related materials (-13.3%);  electronic products (-11.7%);  plastics in primary and non-primary forms (-11.5%); other food and live animals (-5.6%); transport equipment (-3.4%) and miscellaneous manufactured articles (-2.7%).  (Table A.3)

Table A.3  Top 10 Philippine Imports from All Countries:  October 2019
Year-on-Year Growth in Percent

Gainer Losers
Telecommunication Equipment and Electrical Machinery 4.9 Iron and Steel -31.7
    Cereals and Cereal Preparations -18.1
    Industrial Machinery and Equipment -14.6
    Mineral Fuels, Lubricants and Related Materials -13.3
    Electronic Products -11.7
    Plastics in Primary and Non-Primary Forms -11.5
    Other Food and Live Animals -5.6
    Transport Equipment -3.4
    Miscellaneous Manufactured Articles -2.7
p – preliminary

 

8. Imports of electronic products share 25.3 percent to the total imports

Among the imported commodity groups, import bills of electronic products, valued at USD2.42 billion, contributed the highest share of 25.3 percent to the total imports.  Import of this commodity group dropped by 11.7 percent, from USD2.74 billion in October 2018. (Figure 6)

Figure 6

9. Imports of raw materials and intermediate goods down by 19.3 percent

By major type of goods, imports of raw materials and intermediate goods contributed the largest share of 35.8 percent to the total import value.  It decreased by 19.3 percent, from USD4.24 billion in October 2018 to USD3.42 billion in October 2019.

Imports of capital goods, which shared 34.2 percent or an import value of USD3.27 billion, ranked second.  Consumer goods placed third with a share of 17.5 percent or an import value worth USD1.68 billion.  (Figure 7)

Figure 7

10. People’s Republic of China has the highest import value

People’s Republic of China was the country’s biggest supplier of imported goods with 21.8 percent share to the total imports in October 2019.  Import payments from this country amounted to USD2.08 billion, from USD2.19 billion in October 2018.  Other major import trading partners were Japan, USD925.69 million;  Republic of Korea, USD686.34; USA, USD660.64 million;  and Thailand, USD655.50 million. (Figure 8)

Figure 8

11. Imports from countries in East Asia comprise 46.6 percent

By economic bloc, East Asia was the biggest supplier of the country’s imports in October 2019, valued at USD4.45 billion or 46.6 percent of the total imports.  This amount decreased by 10.4 percent, from USD4.97 billion in October 2018.  (Figure 9)

Figure 9

 

 

 

(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 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 regularly collects these documents, which are as follows:

  1. Export Declaration (ED – DTI form);
  2. Import Entry and Internal Revenue Declaration (BOC IEIRD Form 236);
  3. Informal Import Declaration and Entry (BOC Form 177); and
  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: (02) 8376-19-75 or at email address, j.soliven@psa.gov.ph).
 

 

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