Highlights of the Philippine Export and Import Statistics : December 2019

Reference Number: 

2020-031

Release Date: 

Tuesday, February 11, 2020

 

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

 

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

  Exports Imports
December 2019p December 2018r December 2019p December 2018
TOTAL        
FOB Value (in Million US Dollars) 5,742.29 4,729.85 8,219.98 8,900.09
Year-on-Year Growth (Percent) 21.4 -12.2 -7.6 -4.9
 
Electronic Products        
FOB Value (in Million US Dollars) 3,438.43 2,752.71 2,078.77 2,236.52
Year-on-Year Growth (Percent) 24.9 -13.6 -7.1 -1.3
p – preliminary, r – revised

 

1. Total external trade increases by 2.4 percent

The country’s total external trade in goods in December 2019 amounted to USD13.96 billion which represents an increase of 2.4 percent from the USD13.63 billion external trade in the same month of the previous year.  Of the total external trade, USD5.74 billion (41.1%) were exported goods and USD8.22 billion (58.9%) were imported goods.  (Figure 1)

The country’s balance of trade in goods (BoT-G) in December 2019 recorded a USD2.48 billion deficit, which was lower by 40.6 percent from the USD4.17 billion deficit in December 2018. (Figure 1 and Table 1)

Figure 1

 

2. Exports increase by 21.4 percent

The country’s total export sales in December 2019 was USD5.74 billion, an increase by 21.4 percent from the USD4.73 billion total export sales in December 2018.  This was due to the increments in the export sales of nine of the top 10 major export commodities, namely, cathodes and sections of cathodes, of refined copper (471.2%); bananas (fresh) (34.9%); gold (30.2%); electronic products (24.9%); chemicals (18.2%); machinery and transport equipment (12.6%); other manufactured goods (10.4%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (3.5%); and coconut oil (1.1%).  (Table A.2 and Table 3)

 

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

Year-on-Year Growth in Percent

Gainers Loser
Cathodes and Section of Cathodes, of Refined Copper 471.2 Metal Components -17.9
Bananas (Fresh) 34.9    
Gold 30.2    
Electronic Products 24.9    
Chemicals 18.2    
Machinery and Transport Equipment 12.6    
Other Manufactured Goods 10.4    
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships 3.5    
Coconut Oil 1.1    
p – preliminary, r- revised

 

3. Exports of electronic products account for 59.9 percent of the total exports

By commodity group, exports of electronic products continued to be the country’s top export with total earnings of USD3.44 billion.  This amount, which accounted for 59.9 percent of the total exports in December 2019, went up by 24.9 percent, from the USD2.75 billion export receipt in December 2018.  (Figure 2 and Table 3)

Figure 2

4. Exports of manufactured goods increase by 19.2 percent

By major type of goods, exports of manufactured goods accounted for 83.9 percent of the total exports or a value of USD4.82 billion in December 2019.  It  went up by 19.2 percent from USD4.04 billion export value registered in December 2018.  (Figure 3 and Table 5)

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 United States of America (USA) comprised the highest value of USD902.25 million or a share of 15.7 percent to the total exports in December 2019.  Exports to this country grew by 17.1 percent, from USD770.46 million in December 2018. Other major export trading partners were Hong Kong with export value of USD884.98 million; People’s Republic of China, USD835.15 million; Japan, USD803.14 million; and Singapore, USD336.95 million.  (Figure 4, Table 7)

Figure 4

 

6. Exports to countries in East Asia account for 51.5 percent

By economic bloc, 51.5 percent of the country’s merchandise exports in December 2019 or USD2.96 billion went to countries in East Asia.  This amount went up by 31.5 percent, from USD2.25 billion in December 2018.  (Figure 5 and Table 8)

Figure 5

 

7. Imports decrease by 7.6 percent

Total imported goods in December 2019 contracted by 7.6 percent, from USD8.90 billion in December 2018 to USD8.22 billion in December 2019.  The decrease was due to the decrements of seven of the top 10 major import commodities.  These were iron and steel (-38.0%);  cereals and cereal preparations (-30.8%); industrial machinery and equipment (-21.9%); plastics in primary and non-primary forms (-21.5%);  other food and live animals (-11.5%); electronic products (-7.1%); and transport equipment (-1.2%).  (Table A.3 and Table 9)

 

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

Gainers Losers
Telecommunication Equipment and Electrical Machinery 64.2 Iron and Steel -38.0
Miscellaneous Manufactured Articles 8.1 Cereals and Cereal Preparations -30.8
Mineral Fuels, Lubricants and Related Materials 6.5 Industrial Machinery and Equipment -21.9
    Plastics in Primary and Non-Primary Forms -21.5
    Other Food and Live Animals -11.5
    Electronic Products -7.1
    Transport Equipment -1.2
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 USD2.08 billion, contributed the highest share of 25.3 percent to the total imports.  Import of this commodity group declined by 7.1 percent, from USD2.24 billion in December 2018.  (Figure 6 and Table 9)

Figure 6

9. Imports of capital goods down by 2.2 percent

By major type of goods, imports of capital goods contributed the largest share of 35.5 percent to the total import value.  It decreased by 2.2 percent, from USD2.99 billion in December 2018 to USD2.92 billion in December 2019. 

Imports of raw materials and intermediate goods, which shared 31.9 percent or an import value of USD2.62 billion, ranked second.  Consumer goods placed third with a share of 16.7 percent or an import value worth USD1.37 billion.  (Figure 7 and Table 11)

Figure 7

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

The People’s Republic of China was the country’s biggest supplier of imported goods with 24.1 percent share to the total imports in December 2019.  Import payments from this country amounted to USD1.98 billion, from USD1.92 billion in December 2018.  Other major import trading partners were Japan with import value of USD749.65 million; Republic of Korea, USD661.17 million; USA, USD598.11 million; and Singapore, USD514.87 million.  (Figure 8 and Table 13)

Figure 8

 

11.  Imports from countries in East Asia comprise 48.3 percent

By economic bloc, East Asia was the biggest supplier of the country’s imports in December 2019 with a value of USD3.97 billion or 48.3 percent of the total imports.  This amount decreased by 5.2 percent, from USD4.18 billion in December 2018.  (Figure 9 and Table 14)

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).
 

 

See more at the Foreign Trade landing page.

 

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