Highlights of the Philippine Export and Import Statistics : June 2018

Reference Number: 2018-132
Release Date: 08 August 2018

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

JUNE 2018 (Preliminary)

 

 

Exports

Imports

June 2018 p

June 2017 r

June 2018 p

June 2017 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

5,700.39

5,704.04

9,050.21

7,289.68

        Year-on-Year Growth (Percent)

-0.1

17.1

24.2

0.6

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

3,352.35

2,954.46

2,285.93

1,691.51

        Year-on-Year Growth (Percent)

13.5

17.9

35.1

-5.4

 

Top 10 Philippine Exports to All Countries: June 2018 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Coconut Oil
    15.7
Other Mineral Products
   -56.6
Metal Component
    14.8
Chemicals
   -34.3
Electronic Products
    13.5
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
   -23.7
Electronics Equipment and Parts
     5.9
Banana (Fresh)
   -2.4
Other Manufactured Goods
     0.8
 
    
Machinery and Transport Equipment      0.1    
 
Top 10 Philippine Imports from All Countries: June 2018 p
(Year-on-Year Growth in Percent)

Gainers

Iron and Steel
   79.1
Cereals and cereal preparations
   57.1
Electronic Products    35.1
Mineral Fuels, Lubricants and Related Materials
   32.5
Transport Equipment
   27.8
Miscellaneous Manufactured Articles    26.9
Plastics in Primary and Non-primary Form    23.5
Industrial Machinery and Equipment
   22.1  
Telecommunication Equipment and Electrical Machinery    15.9

Other Food and Live Animals

    0.1
                              p - preliminary, r - revised
 
 

 

 

 

1.    TOTAL TRADE AMOUNTS TO $14.75 BILLION

The country’s total external trade in goods in June 2018 reached $14.75 billion, recording an increase of 13.5 percent from $12.99 billion reflected during the same month in 2017. Total exports went down by 0.1 percent, from $5.704 billion in June 2017 to $5.700 billion in June 2018. On the other hand, total imports went up to $9.05 billion in June 2018 from

$7.29 billion in the same month of previous year or an annual growth rate of 24.2 percent.  Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $3.35 billion deficit in June 2018, higher than the $1.59 billion deficit in June 2017.  (Tables 1, 2 and 3)

 

2.    EXPORTS DECLINE BY 0.1 PERCENT WHILE IMPORTS GROW BY 24.2 PERCENT

The country’s total export sales posted a minimal decrease of 0.1 percent from $5.704 billion in June 2017 to $5.700 billion in June 2018. This was due to the decreases posted by four out of the top 10 commodities for the month led by exports of other mineral products (56.6%); chemicals (34.3%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (23.7%); and bananas, fresh (2.4%). (Table 2)

On the other hand, total imported goods for the month of June 2018, amounting to $9.05 billion, grew  by 24.2 percent from $7.29 billion posted during the same month in 2017. The increase was due to the positive growth of the 10 out of the top 10 major import commodities for June 2018. These were the following: iron and steel (79.5%); cereal and cereal preparations (57.1%); electronic products (35.1%); mineral fuels, lubricants and related materials (32.5%); transport equipment (27.8%); miscellaneous manufactured articles (26.9%); plastics in primary and non-primary forms (23.5%); industrial machinery and equipment (22.1%); telecommunication equipment and electrical machinery (15.9%); and other food and live animals (0.1%).  (Table 3)

 

3. EXPORTS OF ELECTRONIC PRODUCTS GROW BY 13.5 PERCENT

Electronic   Products  continued   to   be   the   country’s   top   export with   total   earnings of $3.35 billion, accounting for 58.8 percent share to the total exports revenue in June 2018. It increased by 13.5 percent from the $2.95 billion export receipts in the same month of the previous year. Components/Devices (Semiconductors) contributed the biggest share of 42.6 percent among electronic products. It posted an increase of 9.2 percent, from $2.22 billion in June 2017 to $2.43 billion in June 2018.

Other Manufactured Goods placed second with $310.83 million or 5.5 percent of the total export receipts. Export of this commodity rose by 0.8 percent from the $308.46 million export revenue posted in June 2017.

Machinery and Transport Equipment was the third top export earner with export revenue of $254.25 million or a share of 4.5 percent. Export sales of this commodity group went up by 0.1 percent from the $253.91 million recorded in June 2017. 

Bananas (Fresh) ranked fourth with $140.91 million and a 2.5 percent share to the total export receipts in June 2018.    Export of this commodity however, declined by 2.4 percent from the previous year’s receipts of $144.32 million.

Metal Components with $135.60 million revenue was the fifth top export earner in June 2018. It posted a growth of 14.8 percent from the previous year’s export of $118.14 million.

Completing the list of the top ten exports and their corresponding sales were:

  • Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, with $134.72 million, which decreased  by  23.7 percent;
  • Coconut Oil, with $117.85 million, which went up by 15.7 percent;
  • Electronic Equipment and Parts, with  $100.23 million, which increased by 5.9 percent;
  • Chemicals, with $88.92 million, which decreased by 34.3 percent;
  • Other Mineral Products, with  $86.30 million, which significantly dropped by 56.6 percent;

Total receipts from the top 10 major exports reached $4.72 billion or 82.8 percent of the total export.  This recorded an increase of 5.2 percent from the June 2017 export value of $4.49 billion. (Table 2)

 

4.    ELECTRONIC PRODUCTS ACCOUNTS FOR  25.3 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top 10 imports for June 2018 reached $6.78 billion, recording an increment of 32.2 percent over the June 2017 import value of $5.13 billion.  (Table 3)

Inbound shipments of Electronic Products in June 2018 comprised 25.3 percent of the total imports valued at $2.28 billion. It rose by 35.1 percent from the $1.69 billion posted value during the same period in 2017. Among electronic products, Components/Devices (Semiconductors) reflected the biggest share of 17.1 percent.    It went up by 37.7 percent, from $1.12 billion in June 2017 to $1.55 billion in June 2018.

Mineral Fuels, Lubricants and Related Materials ranked second with import bill amounting to $1.05 billion or 11.6 percent share to total import value. It expanded by 32.5 percent from the June 2017 value of $794.87 million.

Transport Equipment came in third with import value reaching $1.04 billion.  This commodity went up by 27.8 percent from the June 2017 import value of $816.84 million.

Imports of Industrial Machinery and Equipment, valued at $589.01 million in June 2018 or a percent share of 6.5 percent, ranked fourth. Import of this commodity increased by 22.1 percent from $482.33 million in June 2017.

Iron and Steel came in fifth with imports valued at $547.70 million and a share of 6.1 percent. Imports of this commodity rose by 79.5 percent over the June 2017 value of $305.11 million.

Completing the list of the top ten imports for June 2018 were: 

  • Miscellaneous   Manufactured Articles,  $276.76 million, which went up by 26.9 percent;
  • Other Food and Live Animals, $272.35 million, which increased by 0.1 percent;
  • Telecommunication Equipment and Electrical Machinery, $250.55 million which increased by 15.9 percent; 
  • Cereals and Cereal Preparations, $239.18 million which significantly increased  by 57.1 percent; and
  • Plastics in Primary and Non-Primary forms, $222.06 million which grew  by 23.5 percent; 

 

 

5.    EXPORTS OF MANUFACTURED GOODS INCREASE BY 3.2 PERCENT

Exports of Manufactured Goods, with a share of 85.1 percent of total exports, were valued at $4.85 billion in June 2018 (Table 4).  It posted an increment of 3.2 percent compared to $4.70 billion export value in June 2017.

Total Agro-Based Products, with a share of 7.4 percent or $420.18 million, declined by 4.9 percent in June 2018.

Exports from Mineral Products, with a share of 4.5 percent or $257.74 million, went down by 37.5 percent in June 2018.

Merchandise exports from Special Transactions, with a value of $121.34 million or a share of 2.1 percent to the total export revenue, increased by 8.4 percent in June 2018 from the previous year’s figure of $111.98 million.

Exports of Forest Products, accounting for 0.4 percent share to the total exports or a value of $22.53 million, significantly increased by 85.6 percent in June 2018.

Petroleum Products, with 0.4 percent share amounting to $25.48 million, grew by 5.6 percent from $24.12 million in June 2017.

 

6.    IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS COMPRISE 37.4 PERCENT

By major type of goods, imports of Raw Materials and Intermediate Goods contributed the largest share of 37.4 percent to total import value. It rose by almost 21.0 percent from $2.80 billion in June 2017 to $3.38 billion in June 2018. Semi-Processed Raw Materials, with a share of 34.6 of the total imports for the commodity group amounted to $3.13 billion.  Import of this commodity increased by 28.3 percent from the $2.44 billion posted in June 2017. (Table 5)

Imports of Capital Goods accounted for 33.8 percent, valued at $3.06 billion in June 2018. It went up by 30.1 percent from the June 2017 import value of $2.35 billion.

Imports of Consumer Goods contributed 16.8 percent of the total imports in June 2018 amounting to $1.52 billion.  It grew by 15.6 percent from the $1.31 billion registered value in June 2017.

Mineral Fuels, Lubricants and Related Materials, comprising 11.6 percent of total imports, posted an increment of 32.5 percent, from $794.87 million in June 2017 to $1.05 billion in June 2018.  Other mineral fuels, lubricants and related materials accounted for the largest share of imports of this commodity group of almost 6.0 percent or a value of $542.08 million.

Moreover, imports of Special Transactions with a 0.4 percent share registered an increase of 7.3 percent from $33.48 million registered in June 2017 to $35.92 million in June 2018.

 

7.  EXPORTS TO HONGKONG COMPRISE 15.8 PERCENT

Total exports receipt recorded by the country’s top 10 market destinations for June 2018 reached $4.77 billion or 83.6 percent share to the total exports. (Table 6) 

Hong Kong ranked first with exports valued at $901.20 million or 15.8 percent of the total exports for June 2018.  Total exports for Hong Kong grew by 31.1 percent from $687.50 million value posted in June 2017.

United States of America (USA), including Alaska and Hawaii, placed second with an export value of $884.65 million or a share of 15.5 percent of total exports in June 2018. Exports to this country represents an increase of 19.4 percent from $741.01 million in June 2017.

Japan, including Okinawa, came in third with export shipments valued at $793.69 million or a share of 13.9 percent. Exports to this country, however, went down by 31.8 percent from $1.16 billion recorded in June 2017.

People’s Republic of China placed fourth with $729.77 million or 12.8 percent of the total exports. This went up by 14.5 percent from an export value of $637.27 million in the same month of 2017.

Singapore, contributing a 6.4 percent share to total exports or an export value of $362.74 million, ranked fifth. Outbound shipments to this country grew by 18.9 percent from $304.97 million posted in the same month of the previous year.

Completing the top ten market destinations for June 2018 were: Germany, $233.25 million; Thailand, $232.28 million; Netherlands, $222.92 million; Taiwan, $221.12 million; and Republic of Korea,  $185.87 million.  (Table 6)

 

 

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNTS FOR 21.4 PERCENT

Import bills from the top 10 countries amounted to $7.04 billion or a share of 77.9 percent of the total imports in June 2018. 

People’s Republic of China was the country’s biggest supplier of imports with 21.4 percent share in June 2018.  Import bills to this country was registered at $1.93 billion, expanding by 44.0 percent from $1.34 billion in June 2017.

Republic of Korea, which ranked second, contributed a percent share of 9.8 percent or an import value of $886.31 million in June 2018. This recorded an increase of 58.8 percent from the June 2017 value amounting to $558.26 million.   

Japan, including Okinawa, placed third with an import value of $881.00 million in June 2018 or a share of 9.7 percent. Imports from this country declined by 0.8 percent from $888.19 million in June 2017. 

Thailand ranked fourth with a 7.7 percent share to the total import bills in June 2018.  Its total import bills rose by 28.4 percent from $539.40 million in June 2017 to $692.63 million in June 2018.

United States of America (USA), including Alaska and Hawaii, came in fifth with imports valued at $592.00 million in June 2018 or a share of 6.5 percent. Import bills from this country went up by 13.2 percent from $522.98 million in June 2017. 

Completing the list of major sources of imports for the month of June 2018 were: Singapore, $547.10 million; Indonesia, $490.98 million; Taiwan, $463.45 million; Malaysia (includes Sabah and Sarawak), $289.27 million; and Vietnam, $268.46 million.

 

9.  EXPORTS TO COUNTRIES IN EAST ASIA COMPRISE  49.7 PERCENT

By economic bloc, the bulk of the country’s merchandise exports in June 2018, which comprised 49.7 percent of total exports or $2.83 billion, went to countries in East Asia.  This amount fell by 10.6 percent from $3.17 billion in June 2017.

Total exports to ASEAN member countries was valued at $900.91 million or a share of 15.8 percent of total merchandise exports. This went up by 18.1 percent from the recorded value of $762.61 million in June 2017.

Commodities exported to United States of America accounted to 15.5 percent of the total exports in June 2018 or a value of $884.65 million. Exports to this economic bloc increased by 19.4 percent from the $741.01 million posted in the same month of the previous year. (Table 9)

 

10.     IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 49.0 PERCENT

By economic bloc, East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) was the biggest source of the country’s imports in June 2018 which was valued at $4.44 billion, or a 49.0 percent share to the total imports.  This amount posted an increase of 31.8 percent from $3.37 billion in June 2017. 

Commodities imported from ASEAN member countries amounted to $2.29 billion. It contributed 25.3 percent to the total imports and an increase of 15.4 percent from the June 2017 import value of $1.98 billion.

Imports from European Union member countries amounted to $674.88 million. It rose by 34.3 percent from the June 2017 value of $502.65 million.  (Table 10)

 

 

 

 

 

 

 

 

 

 

 

EXPLANATORY NOTES

 

Export and Import trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export and import documents submitted to the Bureau of Customs (BOC) by exporters and importers or their authorized representatives as required by law.  PSA collects copies of these accomplished forms.  These are the following documents:

  1. Export Declaration (ED – DTI form)
  2. Import Entry & Internal Revenue Declaration (BOC IEIRD Form 236)
  3. Informal Import Declaration and Entry (BOC Form 177)
  4. Single Administrative Documents (SAD)

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, a system implemented through the BOC e-Customs Project.

All documents (hard copies and e-files) received before the cut-off date which is every 25th day of the month, are compiled, processed and generated in monthly statistical tables for the preparation of Press Release.  All documents received after the cut-off date, however, are processed and included in the generation of the revised monthly statistical tables.

The digitized copies of all documents are provided by BOC and PEZA to PSA on a monthly basis through email.

Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release for a reference month is due 40 days after every month.  However, if the 10th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be 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 the most detailed 10-digit code level for statistical purposes.

International merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

 

 

 

 

(Sgd.) LISA GRACE S. BERSALES, Ph. D.
Undersecretary
National Statistician and Civil Registrar General
 
 
 
See more at the Foreign Trade Main page.
 
 
(This content has no attachments)

Previous Releases

Exports at a Glance

Reference Month Total Exports
Jan 2019 $5.28Bp
Dec 2018 $4.72Br
Jan 2018 $5.37Br
Growth Rate (%)

-1.75

-12.32

-4.01

Imports at a Glance

Reference Month Total Imports
Jan 2019 $9.03Bp
Dec 2018 $8.47Br
Jan 2018 $8.54Br
Growth Rate (%)

5.85

-9.44

7.69

Contact Us

Trade Statistics Division 
Economic Sector Statistics Service
J.Soliven@psa.gov.ph   +632 376 1975