Highlights of the Philippine Export and Import Statistics : October 2018

Reference Number: 2018-197
Release Date: 11 December 2018

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

OCTOBER 2018 (Preliminary)

 

 

Exports

Imports

October 2018 p

October 2017 r

October 2018 p

October 2017 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

6,108.05

5,912.65

10,320.01

8,497.79

        Year-on-Year Growth (Percent)

3.3

17.4

21.4

17.0

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

3,247.95

3,228.04

2,720.75

2,370.30

        Year-on-Year Growth (Percent)

0.6

28.6

14.8

30.1

 

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

Gainers

Losers

Copper Concentrates
a/   
Electronics Equipment and Parts
 -11.8  
Machinery and Transport Equipment
94.1  
Chemicals
-5.8  
Bananas (Fresh)
 30.9    
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ship 
-4.1  
Other Manufactured Goods
24.3  
 
  
Miscellaneous Manufactured Articles
23.8   
 
    
Metal Components
17.6  
 
    
Electronic Products
0.6    
 
Top 10 Philippine Imports from All Countries: October 2018 p
(Year-on-Year Growth in Percent)

Gainers

Cereals and Cereal Preparations
52.3
Mineral Fuels, Lubricants and Related Materials 45.4
Other Food and Live Animals
33.6
Telecommunication Equipment and Electrical Machinery
26.7
Miscellaneous Manufactured Articles
25.4
Plastics in Primary and Non-primary Form
24.9
Industrial Machinery and Equipment
21.5
Transport Equipment
18.4
Electronic Products 14.8
Iron and Steel
7.8
    p - preliminary
    r - revised
    a/ – growth rate greater than 100 percent (Table 3)
 

 

1. TOTAL TRADE SUMS UP TO $16.43 BILLION

The country’s total external trade in goods in October 2018 reached $16.43 billion, reflecting an increase of 14.00 percent from $14.41 billion recorded value during the same month of the previous year. The total exports was valued at $6.11 billion in October 2018, representing an increase of 3.3 percent, from $5.91 billion in October 2017.

On the other hand, total imports rose to $10.32 billion in October 2018, from $8.50 billion in October 2017 or a growth rate of 21.4 percent.  Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $4.21 billion deficit in October 2018, from $2.59 billion deficit in October 2017.  (Tables 1, 2 and 3)

2. EXPORTS INCREASE BY 3.3 PERCENT WHILE IMPORTS GROW BY 21.4 PERCENT

The country’s total export sales posted an increase of 3.3 percent, from $5.91 billion in October 2017 to $6.11 billion in October 2018. This was due to the increases in export sales of the seven of the top 10 commodities, namely, copper concentrates (167,014.3%); machinery and transport equipment (94.1%); banana (fresh) (30.9%); other manufactured goods (24.3%); miscellaneous manufactured articles, n.e.s. (23.8%), metal components (17.6%), and electronic products (0.6%). (Table 2)

On the other hand, total imported goods for the month of October 2018 amounted to $10.32 billion or a growth of 21.4 percent from the $8.50 billion posted in October 2017. The increase was due to the positive growth manifested by the top 10 major import commodities. These were the following: cereals and cereal preparations (52.3%); mineral fuels, lubricants and related materials (45.4%); other food and live animals (33.6%); telecommunication equipment and electrical machinery (26.7%); miscellaneous manufactured articles (25.4%); plastics in primary and non-primary forms (24.9%); industrial machinery and equipment (21.5%); transport equipment  (18.4%); electronic products (14.8%); and iron and steel (7.8%). (Table 3) 

 

3. EXPORTS OF ELECTRONIC PRODUCTS GROW BY 0.6 PERCENT

Electronic Products continued to be the country’s top export with a total earnings of $3.25 billion, which accounted for a share of 53.2 percent to the total exports revenue in October 2018. This export commodity grew by 0.6 percent, from $3.23 billion export receipts in the same month of the previous year. Components/Devices (Semiconductors) comprised the biggest share of 38.9 percent among electronic products.  It posted a decrease of 2.3 percent, from $2.38 billion in October 2017 to $2.44 billion in October 2018.

Other Manufactured Goods ranked second with $451.35 million or 7.4 percent of the total export receipts. Export of this commodity increased by 24.3 percent, from the $363.17 million export revenue posted in the same month of the previous year.

Machinery and Transport Equipment was the third top export earner with revenue of $376.73 million or a share of 6.2 percent. Export sales of this commodity group went up by  94.1 percent, from the $194.06 million recorded in October 2017. 

Bananas (Fresh) placed fourth with $178.82 million earnings or a 2.9 percent share to the total export receipts in October 2018.  Export of this commodity went up by 30.9 percent from the previous year’s value of $136.63 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fifth with $170.31 million or a share of 2.8 percent to total export earnings in October 2018. It went down by 4.1 percent from an export value of $177.55 million in October 2017.

Completing the list of the top 10 exports and their corresponding sales were:

  • Metal Components with  $143.44 million, which went up by 17.6 percent;
  • Chemicals with $100.67 million, which declined by 5.8 percent;
  • Copper Concentrates with  $96.38 million, which surged by 167,014.3 percent;
  • Miscellaneous manufactured articles with $94.22 million, which increased by 23.8 percent;
  • Electronic Equipment and Parts with $87.04 million, which went down by 11.8 percent.

Total receipts from the top 10 major exports amounted to $4.95 billion or a share of 81.0 percent of the total export. This recorded an increase of 9.9 percent from the October 2017 export value of $4.50 billion. (Table 2)

4. ELECTRONIC PRODUCTS COMMODITY GROUP ACCOUNTS FOR  26.4 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top 10 imports for October 2018 amounted to $7.71 billion, an increase of 22.4 percent over the October 2017 import value of $6.30 billion.  (Table 3)

Import bill of Electronic Products in October 2018 accounted for the highest total imports with a share of 26.4 percent to the total imports valued at $2.72 billion. Import of this commodity group expanded by 14.8 percent from the $2.37 billion posted in October 2017. Among electronic products, Components/Devices (Semiconductors) reflected the biggest share of 18.2 percent.  It increased by 15.0 percent, from $1.63 billion in October 2017 to $1.87 billion in October 2018.

Mineral Fuels, Lubricants and Related Materials came second with import value reaching $1.23 billion.  This commodity went up by 45.4 percent from the October 2017 import value of $844.51 million.

Transport Equipment ranked third with import bill amounting to $1.19 billion or 11.6 percent share to total import value. It rose by 18.4 percent from the October 2017 value of $1.01 billion.

Industrial Machinery and Equipment placed fourth with imports valued at $616.22 million or a share of 6.0 percent. Imports of this commodity expanded by 21.5 percent over the October 2017 value of $507.29 million.

Imports of Iron and Steel, valued at $507.14 million in October 2018 or a percent share of 4.9 percent, ranked fifth. Import of this commodity went up by 7.8 percent from $470.45 million in October 2017.

Completing the list of the top 10 imports for October 2018 were:

  • Other Food and Live Animals, $351.95 million which rose by 33.6 percent;
  • Miscellaneous Manufactured Articles, $346.39 million which increased by 25.4 percent;
  • Telecommunication Equipment and Electrical Machinery, $269.37 million which went up  by 26.7 percent;
  • Plastics in Primary and Non-Primary forms, $244.60 million which increased by 24.9 percent; and
  • Cereals and Cereal Preparations, $231.74 million which grew by 52.3 percent.

5. EXPORTS OF MANUFACTURED GOODS INCREASE BY 5.7 PERCENT

Exports of Manufactured Goods, comprising a share of 83.7 percent to total exports, were valued at $5.11 billion in October 2018   (Table 4).  It increased by 5.7 percent compared to the $4.84 billion export value in October 2017.

Total Agro-Based Products, with a share of 7.0 percent or $429.58 million, went down by 13.7 percent in October 2018.

Exports from Mineral Products, with a value of $319.97 million or a share of 5.2 percent, declined by 7.1 percent in October 2018.

Merchandise exports from Special Transactions, with a value of $177.65 million or a share of 2.9 percent to the total export revenue, increased by 33.5 percent in October 2018 from the previous year’s figure of $133.03 million.

Petroleum Products, with 0.6 percent share or $37.13 million, decreased by 51.0 percent from $75.79 million in the same month of previous year.

Exports of Forest Products, accounting for 0.5 percent share to the total exports or a value of $30.75 million, expanded by 28.7 percent in October 2018.

6. IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS SHARE 37.7 PERCENT OF THE TOTAL IMPORT VALUE

By major type of goods, imports of Raw Materials and Intermediate Goods contributed the largest share of 37.7 percent to total import value. It increased by 22.2 percent, from $3.18 billion in October 2017 to $3.89 billion in October 2018. Semi-Processed Raw Materials had a share amounting to $3.56 billion or 34.4 percent to total imports for this commodity group.  Import of this commodity grew by 18.6 percent from the $2.99 billion posted in October 2017. (Table 5)

Imports of Capital Goods with value of $3.47 billion, accounted for 33.6 percent in October 2018. It went up by 21.2 percent from the October 2017 import value of $2.86 billion.

Imports of Consumer Goods, amounting to $1.67 billion, contributed 16.1 percent to the total imports in October 2018.  It grew by 7.5 percent from the $1.55 billion registered value in October 2017.

Imports of Mineral Fuels, Lubricants and Related Materials, comprising 11.9 percent of total imports, posted an increment of 45.4 percent, from $844.51 million in October 2017 to $1.23 billion in October 2018.  Petroleum Crude, valued at $539.03 million, accounted for the largest share of 5.2 percent of imports of this commodity group.

Moreover, imports of Special Transactions with a 0.7 percent share to total export, registered an increase of 13.2 percent, from $61.27 million in October 2017 to $69.35 million in October 2018.

7. EXPORTS TO UNITED STATES OF AMERICA COMPRISE 16.3 PERCENT

Total exports receipt recorded by the country’s top 10 market destinations for October 2018 reached $4.91 billion or 80.4 percent of the total exports. (Table 6)

United States of America (USA), including Alaska and Hawaii, ranked first with exports valued at $996.86 million or 16.3 percent of the total exports for October 2018. Total exports for USA grew by 18.0 percent, from $844.49 million value posted in October 2017.

Japan, including Okinawa placed second with an export value of $850.45 million or a share of 13.9 percent to total exports in October 2018. Exports to this country represented a decrease of 7.5 percent, from $919.06 million in October 2017.

People’s Republic of China came third with export shipments valued at $804.53 million or a share of 13.2 percent. Exports to this country went up by 4.4 percent, from $770.98 million recorded in October 2017.

Hong Kong placed fourth with $774.27 million or 12.7 percent of the total exports. This went down by 7.3 percent from an export value of $834.80 million posted in October 2017.

Singapore, contributing a 5.8 percent share to total exports or an export value of $351.74 million, ranked fifth. Outbound shipments to this country decreased by 3.1 percent from $363.17 million posted in the same month of the previous year.

Completing the top 10 market destinations for October 2018 were: Republic of Korea, $254.00 million; Thailand, $248.59 million; Germany, $231.43 million; Taiwan, $200.86 million; and France, $197.44 million.  (Table 6)

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNT FOR 20.6 PERCENT

Import bills from the top 10 countries amounted to $7.81 billion or a share of 75.7 percent of the total imports in October 2018. (Table 7)

People’s Republic of China was the country’s biggest supplier of imports with 20.6 percent share in October 2018. Import bills to this country registered an amount of $2.13 billion or an increase of 28.2 percent, from $1.66 billion in October 2017.

Republic of Korea, which placed second, contributed 10.4 percent or an import value of $1.08 billion in October 2018. This recorded an increase of 57.1 percent from the October 2017 value amounting to $686.43 million.

Japan, including Okinawa, ranked third with an import value of $918.53 million in October 2018 or a share of 8.9 percent. Imports from this country went down by 4.0 percent, from $957.05 million in October 2017. 

United States of America (includes Alaska and Hawaii) placed fourth with a 7.0 percent share to the total import bills in October 2018.  Its total import bills rose by 3.9 percent, from $694.85 million in October 2017 to $721.71 million in October 2018.

Thailand came fifth with imports valued at $639.80 million in October 2018 or a share of 6.2 percent. Import bills from this country decreased by 1.3 percent from $647.98 million in October 2017. 

Completing the list of major sources of imports for the month of October 2018 were: Indonesia, $597.83 million; Singapore, $537.71 million; Taiwan, $458.71 million; Malaysia (includes Sabah and Sarawak), $420.16 million; and Vietnam, $310.84 million. (Table 7)

9. EXPORTS TO COUNTRIES IN EAST ASIA COMPRISE 47.3 PERCENT

By economic bloc, the bulk of the country’s merchandise exports in October 2018, which comprised 47.3 percent of total exports or $2.89 billion, went to countries in East Asia.  This amount decreased by 5.0 percent, from $3.04 billion in October 2017. (Table 9)

Commodities exported to United States of America accounted for 16.3 percent of the total exports in October 2018 or a value of $996.86 million. Exports to this economic bloc increased by 18.0 percent, from the $844.49 million posted in the same month of the previous year.

Total exports to ASEAN were valued at $977.06 million or a share of 16.0 percent of total merchandise exports. This went up by 9.2 percent from the recorded value of $894.41 million in October 2017. (Table 9)

 

10. IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 47.2 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 October 2018 amounting to $4.87 billion, or a 47.2 percent share to the total imports.  This amount rose to 20.7 percent from $4.04 billion in October 2017. 

Commodities imported from ASEAN member countries reached $2.51 billion.  It contributed 24.3 percent to the total imports and an increase of 7.9 percent from the October 2017 import value of $2.33 billion.

Imports from European Union member countries registered a value of $909.58 million in October 2018. It increased by 61.7 percent from the October 2017 value of $562.46 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
 
 

Foreign Trade by Year Published

Exports at a Glance

Reference Month Total Exports
Mar 2019 $5.88Bp
Feb 2019 $5.22Br
Mar 2018 $6.02Br
Growth Rate (%)

-2.50

-0.08

0.36

Imports at a Glance

Reference Month Total Imports
Mar 2019 $9.01Bp
Feb 2019 $7.97Br
Mar 2018 $8.36Br
Growth Rate (%)

7.80

2.62

3.17

Contact Us

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