The value of seasonally adjusted total exports amounted to USD 6.49 billion in August 2023. This indicates a monthly increase of 4.4 percent from the recorded value of USD 6.22 billion in July 2023. (Figure 1, and Tables A and 1)
Similarly, the seasonally adjusted export value of manufactured goods at USD 5.35 billion registered a monthly increment of 6.8 percent from the USD 5.01 billion export value in July 2023. Mineral products with USD 627.28 million worth of exports posted a monthly increase of 10.3 percent from the USD 568.71 million export value in the previous month.
On the other hand, the seasonally adjusted export sales from total agro-based products was recorded at USD 378.10 million, which indicates a monthly decline of 7.3 percent during the month from the USD 408.02 export value in the previous month.
The seasonal factors, such as the degree of the demand for selected major types of goods during the period, pushed up the total value of exports and export values of total agro-based products, mineral products, and manufactured goods. (Table 1)
The rest of the major types of goods, including forest products and petroleum products, have no seasonality.
The value of seasonally adjusted total imports in August 2023 amounted to USD 10.38 billion. This represents a monthly increase of 1.2 percent from the USD 10.26 billion value in July 2023. (Figure 2, and Tables A and 2)
The seasonally adjusted import value of consumer goods recorded at USD 2.10 billion posted a monthly increase of 1.2 percent in August 2023 from the USD 2.08 billion import value in July 2023.
Meanwhile, the seasonally adjusted imports of raw materials and intermediate goods at USD 3.56 billion remained at its monthly decline of 3.7 percent in the previous month.
Capital goods with seasonally adjusted import value worth USD 2.69 billion posted a monthly drop of 13.4 percent in August 2023 from the USD 3.11 billion import value in July 2023.
The seasonal factors, such as the degree of the demand for selected major types of goods during the period, pushed up the total value of imports and import values of capital goods, raw materials and intermediate goods, and consumer goods. (Table 2)
Mineral fuels, lubricants and related materials has no seasonality.
CLAIRE DENNIS S. MAPA, PhD
National Statistician and Civil Registrar General