Highlights of the Philippine Export and Import Statistics : August 2019

Reference Number: 

2019-168

Release Date: 

Thursday, October 10, 2019

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

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

  Exports Imports
  August 2019p August 2018r August 2019p August 2018r
TOTAL        
FOB Value (in Million US Dollars) 6,250.91 6,216.23 8,659.70 9,814.79
Year-on-Year Growth (Percent) 0.6 4 -11.8 12.6
         
Electronic Products        
FOB Value (in Million US Dollars) 3,658.62 3,433.47 2,349.14 2,500.11
Year-on-Year Growth (Percent) 6.6 9.8 -6 11.8
Notes:
p – preliminary, r – revised

 

Table A.2  Top 10 Philippine Exports to All Countries:  August 2019p
Year-on-Year Growth in Percent

Gainers Losers
Gold 93.2 Cathodes and Sections Of Cathodes, Of Refined Copper -39.2
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships 7.6 Other Manufactured Goods -17.7
Electronic Products 6.6 Chemicals -16.1
    Machinery and Transport Equipment -10.8
    Other Mineral Products -8.3
    Metal Components -3.7
    Bananas (Fresh) -1.3
Note:
p – preliminary   

 

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

Gainers Losers
Miscellaneous Manufactured Articles 24.9 Iron and Steel -44.2
Telecommunication Equipment and Electrical Machinery 11.4 Transport Equipment -29.1
    Cereals and Cereal Preparations -23.4
    Industrial Machinery and Equipment -15.3
    Mineral Fuels, Lubricants and Related Materials -11.9
    Plastics in Primary and Non-Primary Forms -8.7
    Electronic Products -6
    Other Food and Live Animals -4.4
Note:
   p – preliminary

 

Figure 1

The country’s total external trade in goods in August 2019 reached USD14.91 billion, reflecting a decrease of 7.0 percent from the USD16.03 billion external trade in the same month of the previous year.  Of the total external trade, USD6.25 billion or 41.9 percent were exported goods and USD8.66 billion or 58.1 percent were imported goods.

The country’s balance of trade in goods (BoT-G) recorded a USD2.41 billion deficit in August 2019, lower by 33.1 percent from the USD3.60 billion deficit in August 2018. (Tables 1, 2 and 3)

Figure 2

1. Exports increase by 0.6 percent

The country’s total export sales in August 2019 was USD6.25 billion, reflecting an increase of 0.6 percent from the USD6.22 billion total export sales in August 2018.  This was due to the increases in export sales of three of the top 10 major export commodities, namely, gold (93.2%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (7.6%); and electronic products (6.6%).  (Table A.1 and A.2)

Figure 3

By commodity group, exports of electronic products continued   to   be   the   country’s   top   export with total earnings of USD3.66 billion.  This amount, which accounted for 58.5 percent of the total exports’ revenue in August 2019, went up by 6.6 percent from the USD3.43 billion export receipt in August 2018.  Components/devices (semiconductors) accounted for the biggest share of 42.9 percent among the electronic products.  Exports for these electronic products moved up by 4.1 percent, from USD2.58 billion in August 2018 to USD2.68 billion in August 2019.  (Table 2)

2. Imports decrease by 11.8 percent

Total imported goods in August 2019 declined by 11.8 percent, from USD9.81 billion in August 2018 to USD8.66 billion in August 2019.  The decrease was due to the decrements in eight of the top 10 major import commodities. These were iron and steel (-44.2%); transport equipment (-29.1%); cereals and cereal preparations (-23.4%); industrial machinery and equipment (-15.3%); mineral fuels, lubricants and related materials (-11.9%); plastics in primary and non-primary forms (-8.7%); electronic products (-6.0%); and other food and live animals (-4.4%).  (Table 3)

Among the imported commodity groups, import bills of electronic products, valued at USD2.35 billion, contributed the highest share of 27.1 percent to the total imports.  Import of this commodity group went down by 6.0 percent, from USD2.50 billion in August 2018.  Among the electronic products, components/devices (semiconductors) accounted for the biggest share of 18.0 percent.  However, this commodity group declined by 14.4 percent, from USD1.82 billion in August 2018 to USD1.55 billion in August 2019.  (Table 3)

Figure 4

3. Exports of manufactured goods up by 1.1 percent
By major type of goods, exports of manufactured goods, accounted for 83.2 percent of the total exports or a value of USD5.20 billion in August 2019.  It  increased by 1.1 percent from USD5.15 billion export value registered  in August 2018.  This was followed by exports of mineral products and total agro-based products amounting to USD428.31 million and USD390.56 million, respectively. (Table 4)

Figure 5

4. Imports of raw materials and intermediate goods drop by 18.7 percent

Imports of raw materials and intermediate goods contributed the largest share of 35.3 percent to the total import value.  It declined by 18.7 percent, from USD3.76 billion in August 2018 to USD3.06 billion in August 2019.  Semi-processed raw materials contributed USD2.81 billion or 32.5 percent of the total imports.  

Imports of capital goods ranked second, sharing 33.1 percent or an import value of USD2.87 billion.  Consumer goods placed third with a share of 18.9 percent or import value worth USD1.64 billion.  (Table 5)

Figure 6

5. Among the Philippine’s major trading partners, USA accounts for the highest export value

By major trading partners, exports to the United States of America (USA) comprised the highest value of USD992.72 billion or a share of 15.9 percent to the total exports in August 2019.  Exports to this country grew by 7.0 percent, from USD928.07 million in August 2018. Other major export trading partners were People’s Republic of China, USD944.23 million; Hong Kong, USD938.26 million; Japan, USD870.03 million; and Singapore, USD353.53 million. (Table 6)

Figure 7

6. People’s Republic of China had the highest import value
People’s Republic of China was the country’s biggest supplier of imported goods with 23.1 percent share to total imports in August 2019.  Import payments from this country amounted to USD2.00 billion, from USD1.92 billion in August 2018.  Other major import trading partners were  Japan, USD800.32 million;  USA, USD609.13 million;  Indonesia, USD598.95; and Republic of Korea, USD586.30 million. (Table 7)

Figure 8

7. Exports to countries in East Asia comprise 51.4 percent
By economic bloc, more than half (51.4%) of the country’s merchandise exports in August 2019, or USD3.21 billion went to countries in East Asia.  This amount grew by 3.3 percent, from USD3.11 billion in August 2018.  (Table 9)

Total exports to ASEAN member countries was valued at USD954.00 million, representing  a share of 15.3 percent to total export value.  It decelerated by 5.4 percent from the export value of USD1.01 billion in August 2018.

Goods exported to European Union (EU) member countries registered a value of USD709.57 million or a share of 11.4 percent.  It decreased by 3.2 percent from its value of USD732.76 million in August 2018.  

Figure 9

8. Imports reach 47.6 percent from countries in East Asia

By economic bloc, East Asia was the biggest supplier of the country’s imports in August 2019, valued at USD4.12 billion or 47.6 percent of the total imports.  This amount decreased by 7.7 percent, from USD4.46 billion in August 2018.  (Table 10)

Commodities imported from ASEAN member countries reached USD2.38 billion.  It accounted for 27.5 percent of the total import.  It decreased by 4.0 percent from the recorded import value of USD2.48 billion in August 2018.

Moreover, imports from the EU recorded a value of USD629.90 million or a share of 7.3 percent.  It declined by 29.2 percent from the August 2018 import value of USD889.07 million.

Figure 10

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

 

See more at the Foreign Trade Statistics landing page.

 

 

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: 8376-19-75 or email at j.soliven@psa.gov.ph).

 

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