Highlights of the Philippine Export and Import Statistics : July 2019

Reference Number: 

2019-

Release Date: 

Tuesday, September 10, 2019

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

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

  Exports Imports
July 2019p July 2018r July 2019p July 2018
TOTAL        
FOB Value (in Million US Dollars) 6,174.37 5,966.51 9,567.48 9,982.73
Year-on-Year Growth (Percent) 3.5 2.3 -4.2 39.8
 
Electronic Products        
FOB Value (in Million US Dollars) 3,432.61 3,335.42 2,455.45 2,427.21
Year-on-Year Growth (Percent) 2.9 7 1.2 49.3
Notes: 
p – preliminary, r – revised

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

Gainers Losers
Gold 81.8 Metal Components -11.8
Bananas (Fresh) 34.6 Chemicals -2.5
Machinery and Transport 23.9    
Electronic Equipment and Parts 18.9    
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships 17.6    
Other Mineral Products 7.9    
Other Manufactured Goods 5.7    
Electronic Products 2.9    
Notes:
p – preliminary

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

Gainers Losers
Miscellaneous Manufactured Articles 18.9 Iron and Steel -35.8
Other Food and Live Animals 12.3 Mineral Fuels, Lubricants and Related Materials -14.5
Cereals and Cereal Preparations 6 Transport Equipment -12
Electronic products 1.2 Telecommunication Equipment and Electrical Machinery  -2.4
Plastics in Primary and Non-Primary Forms 0.5 Industrial Machinery and Equipment -1.5
Notes:
p – preliminary

Figure 1

The country’s total external trade in goods in July 2019 reached USD15.74 billion, reflecting a decrease of 1.3 percent from the USD15.95 billion external trade in the same month of the previous year. Of the total external trade, USD6.17 billion or 39.2 percent were exported goods and USD9.57 billion or 60.8 percent were imported goods.

The country’s balance of trade in goods (BoT-G) recorded a USD3.39 billion deficit in July 2019, lower by 15.5 percent from the USD4.02 billion deficit in July 2018. (Tables 1, 2 and 3)
 

Figure 2

 

1. Exports increase by 3.5 percent while imports decrease by 4.2 percent

The country’s total export sales in July 2019 was USD6.17 billion, reflecting an increase of 3.5 percent from the USD5.97 billion total export sales in July 2018.  This was due to the increases in export sales of eight of the top 10 major export commodities, namely, gold (81.8%); fresh bananas (34.6%); machinery and transport equipment (23.9%); electronic equipment and parts (18.9%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (17.6%); other mineral products (7.9%); other manufactured goods (5.7%); and electronic products (2.9%).  (Table A.1 and A.2)

By commodity group, exports of electronic   products continued   to   be   the   country’s   top   export with total earnings of USD3.43 billion.  This amount, which accounted for 55.6 percent of the total exports’ revenue in July 2019, went up by 2.9 percent from the USD3.34 billion export receipt in July 2018.  Components/devices (semiconductors) accounted for the biggest share of 40.3 percent among the electronic products.  Exports for these electronic products moved up by 2.4 percent, from USD2.43 billion in July 2018 to USD2.49 billion in July 2019. (Table 2)

On the other hand, total imported goods in July 2019 declined by 4.2 percent, from USD9.98 billion in July 2018 to USD9.57 billion in July 2019.  The decrease was due to the decrements in nine of the top 10 major import commodities. These were iron and steel (-35.8%); mineral fuels, lubricants and related materials (-14.5%); transport equipment (-12.0%); telecommunication equipment and electrical machinery (-2.4%); and industrial machinery and equipment (-1.5%).  (Table 3)

Among the imported commodity groups, import bills of electronic products, valued at USD2.46 billion, contributed the highest share of 25.7 percent to the total imports.  Import of this commodity group went up by 1.2 percent, from USD2.43 billion in July 2018. Among the electronic products, components/devices (semiconductors) accounted for the biggest share of 17.1 percent.  However, this commodity group declined by 5.6 percent, from USD1.73 billion in July 2018 to USD1.63 billion in July 2019.  (Table 3)

Figure 3

2. Exports of manufactured goods up by 4.2 percent while imports of raw materials and intermediate goods drop by  11.7 percent

By major type of goods, exports of manufactured goods, accounted for 84.0 percent of the total exports or a value of USD5.18 billion in July 2019.  It  increased by 4.2 percent from USD4.98 billion export value registered  in July 2018.  This was followed by exports of mineral products and total agro-based products amounting to USD421.72 million and USD413.40 million, respectively. (Table 4)

On the other hand, imports of  raw materials and intermediate goods contributed the  largest share of 36.0 percent to the total import value. It declined by 11.7 percent, from USD3.90 billion in July 2018 to USD3.45 billion in July 2019.  Semi-processed raw materials contributed USD3.19 billion or 33.4 percent of the total imports.  

Imports of capital goods ranked second, sharing 34.2 percent or an import value of USD3.27 billion.  Consumer goods placed third with a share of 17.3 percent or import value worth USD1.66 billion.  (Table 5)
 

Figure 4

 

3. Among the Philippine’s major trading partners, USA accounts for the highest export value while People’s Republic of China had the highest import value.

By major trading partners, exports to the United States of America (USA) comprised the highest value of USD1.04 billion or a share of 16.9 percent to the total exports in July 2019.  Exports to this country grew by 8.9 percent, from USD959.68 million in July 2018.  Other major export trading partners were Japan, USD934.62 million; People’s Republic of China, USD860.19 million; Hong Kong, USD842.90 million; and Singapore, USD319.69 million.  (Table 6)

People’s Republic of China was the country’s biggest supplier of imported goods with 23.0 percent share to total imports in July 2019. Import payments from this country amounted to USD2.20 billion, from USD1.91 billion in July 2018.  Other major import trading partners were  Japan, USD915.14 million;  Republic of Korea, USD794.17 million;  Singapore, USD701.40; and Indonesia, USD638.87 million. (Table 7)
 

Figure 5

 

4. Exports to countries in East Asia comprise 50.4 percent while imports reach 48.5 percent

By economic bloc, more than half (50.4%) of the country’s merchandise exports in July 2019, or USD3.11 billion went to countries in East Asia.  This amount grew by 6.5 percent, from USD2.92 billion in July 2018.  Similarly, East Asia was the biggest supplier of the country’s imports in July 2019, valued at USD4.64 billion or 48.5 percent of the total imports.  This amount increased by 2.6 percent, from USD4.52 billion in July 2018.  (Table 9 and 10)

Total exports to ASEAN member countries was valued at USD890.67 million, representing  a share of 14.4 percent to total export value.  It decelerated by 9.2 percent from the export value of USD980.96 million in July 2018.  Commodities imported from ASEAN member countries reached USD2.63 billion.  It accounted for 27.5 percent of the total import and increased by 3.0 percent from the recorded import value of USD2.55 billion in July 2018.  (Table 9 and 10)

Goods exported to European Union (EU) member countries registered a value of USD720.27 million or a share of 11.7 percent.  It expanded by 6.6 percent from its value of USD675.96 million in July 2018.   Moreover, imports from the EU recorded a value of USD833.31 million or a share of 8.7 percent. It declined by 6.3 percent from the July 2018 import value of USD889.64 million. (see Table 10)

 

Figure 6

 

 

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: 376-19-75 or email at j.soliven@psa.gov.ph).
 

 

See more at the Foreign Trade landing page.

 

 

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