Foreign Trade Statistics of the Philippines: 2013

Reference Number: 

2014-049

Release Date: 

Monday, June 30, 2014

FOREIGN TRADE STATISTICS OF THE PHILIPPINES: 2013

 

TOTAL TRADE VALUED AT $119.108 BILLION

The total external trade in goods in 2013 reached $119.108 billion, accounting for 4.3 percent increase from $114.228 billion in 2012. The growth of the external trade was due to the increase of both inward and outward trading of goods.  Total imports went up by 0.5 percent to $62.411 billion in 2013 from $62.129 billion in 2012.  Likewise, total export receipts accelerated by 8.8 percent to $56.698 billion in 2013 from $52.100 billion in 2012.  The country’s balance of trade in goods (BOT-G) registered a $5.713 billion deficit in 2013 from $10.029 billion deficit in 2012.

 

 

TOP 10 EXPORTS ACCOUNTED FOR 80.0 PERCENT OF TOTAL EXPORT RECEIPTS

Accounting for 80.0 percent of the aggregate export revenue in 2013, receipts from the top ten exports totaled to $45.334 billion, increased by 9.3 percent from $41.470 billion in 2012 (Table 2).

Electronic Products continued to be the top earner for 2013 with 42.2 percent of the total exports and accelerated by 4.5 percent to $23.931 billion from $22.901 billion in 2012.

Other Manufactures placed second with a share of 9.7 percent and a total receipt of $5.491 billion and 32.0 percent higher than the 2012 value of $4.161 billion.

Woodcrafts and Furniture, ranked third with a share of 5.9 percent, rose by 42.6 percent to $3.337 billion from $2.339 million in 2012.

Chemicals with share of 4.6 percent, ranked fourth with export receipts of $2.619 billion.  It increased by 53.3 percent from the 2012 value of $1.708 billion.

Machinery and Transport Equipment contributing 3.7 percent of the total export receipts, was the fifth top export in 2013 with revenue amounting to $2.088 billion, went down by 37.7 percent from $3.349 billion in 2012.

Rounding up the list of top ten exports for 2013 were: Other mineral Products with an export value of $1.865 billion, posting highest increase among the top ten exports of 88.6 percent from $988.75 million in 2012; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships with proceeds billed at $1.731 billion, gained by 19.7 percent from $1.446 billion in 2012; Metal Components, worth $1.685 billion, dropped by 14.1 percent; Articles of Apparel with $1.580 billion export receipts, increased by 0.5 percent; and Coconut Oil, worth $1.006 billion, decreased by 3.4 percent from $1.041 billion export receipts in 2012.

 

 

TOP 10 IMPORTS ACCOUNTED FOR 75.0 PERCENT OF IMPORT BILL

Total payment for the country’s top ten imports for 2013 reached $46.824 billion or 75.0 percent of the total import payment, registering a positive growth of 0.8 percent from $46.473 billion in 2012 (Table 3).

Electronic Products, accounting for 24.9 percent of the total import bill posted a decrease of 4.3 percent from $16.203 billion in 2012 to $15.511 billion in 2013.

Mineral Fuels, Lubricants and Related Materials ranked second with 21.1 percent share, decreased by 4.5 percent from $13.752 billion in 2012 to $13.140 billion in 2013.

Transport Equipment ranked third, comprising 10.0 percent of the total imports, increased by 29.0 percent to $6.223 billion in 2013 from $4.823 billion in 2012.

Industrial Machinery and Equipment, ranked fourth, recorded a 5.1 percent share and slightly decrease by 0.01 percent from $3.194 billion worth of imports to almost $3.194 billion recorded value in 2013.

Other Food and Live Animals ranked fifth with 2.9 percent share of the total imports worth $1.812 billion, higher by 8.8 percent from $1.665 billion in 2012.

Rounding up the list for the top ten imports for 2013 were Plastics in Primary and Non-Primary Forms, $1.496 billion, declined by 3.3 percent; Iron and Steel, $1.459 billion, increased by 5.5 percent; Miscellaneous Manufactured Articles, $1.360 billion, registering the highest increase among the top ten imports by 78.1 percent; Organic and Inorganic Chemical, $1.353 billion, went down by 12.5 percent; and Cereals and Cereal Preparations, $1.277 billion or a decrease of 20.0 percent.

 

 

JAPAN ACCOUNTED FOR 14.5 PERCENT OF THE TOTAL TRADE

The country’s top ten trading partners for 2013 posted a total trade value of $90.675 billion or more than three-fourths (76.1%) of the total trade. This comprised a total export receipt of $47.087 billion or 83.0 percent of the total exports and total import bill of $43.587 billion or 69.8 percent of the total imports.

Japan was the country’s top trading partner in 2013, accounting for a total trade worth $17.273 billion or 14.5 percent of the country’s total trade. Exports to Japan totaled $12.048 billion while imports were valued at $5.224 billion, posting a trade surplus of $6.824 billion (Table 4).  Woodcrafts and Furniture got a large share of 25.8 percent of the total exports to Japan valued at $3.107 billion, followed by Electronic Products at $2.825 billion or 23.5 percent (Table 5).  On the other hand, majority of the imported products from Japan were Electronic Products billed at $1.722 billion or 33.0 percent and Transport Equipment with $803.32 million or 15.4 percent (Table 6).

USA was the country’s second largest trading partner in 2013 with total trade worth $15.344 billion or 12.9 percent of the total trade.  Export receipts from USA stood at $8.324 billion while payment for imports was valued at $7.020 billion, resulting to a $1.303 billion trade surplus (Table 4). The biggest sales came from Electronic Products at $3.005 billion or 36.1 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $1.009 billion or 12.1 percent (Table 5).  Imported goods purchased from USA consisted of Electronic Products worth $3.400 billion or 48.4 percent of the country’s total imports. Transport Equipment followed with imports of $809.78 million or a share of 11.5 percent (Table 6).

People’s Republic of China placed third accounting for 12.7 percent or $15.098 billion total trade in 2013. Receipts from exports to China were valued at $7.025 billion while payment for imports totaled to $8.072 billion, reflecting a trade deficit of $1.047 billion (Table 4).  Majority of the exports were Electronic Products worth $3.443 billion or 49.0 percent of the total exports to China and Other Mineral Products with $934.45 million or 13.3 percent share (Table 5). Major inward shipments from China were Electronic Products with payment worth $1.555 billion or 19.3 percent of the total. Mineral Fuels, Lubricants and Related Materials ranked second and valued at $824.33 million or 10.2 percent of the total (Table 6).

Singapore ranked as the fourth largest trading partner of the country for 2013 with a total trade amounting to $8.378 billion or a share of 7.0 percent to total trade. Total outward shipments were valued at $4.142 billion while import payment reached $4.236 billion, recording a trade deficit of $93.57 million (Table 4).  Electronic Products and Petroleum Products were the country’s major exports to Singapore with earnings of $2.933 billion or 70.8 percent share and $442.46 million or 10.7 percent of the total exports, respectively (Table 5). The bulk of inward commodities from this country were Electronic Products with import bill of $1.613 billion or 38.1 percent share, and Mineral Fuels, Lubricants and Related Materials worth $1.139 billion or 26.9 percent share (Table 6).

 

 

EUROPEAN UNION CORNERED 10.8 PERCENT OF THE COUNTRY’S TOTAL TRADE

The country’s external trade-in goods with the European Union (EU) – member countries for 2013 totaled to $12.807 billion or 10.8 percent share of the total trade.  Exports to EU reached $6.553 billion or 11.6 percent of the total export receipts, while imports were valued at $6.254 billion or a 10.0 percent share to total imports, resulting to a balance of trade in goods (BOT-G) surplus of $299.51 million. Among the EU - member countries, Germany was the country’s top trading partner with a total trade of $4.689 billion or 36.6 percent of EU’s total trade. Revenue from exports to Germany amounts to $2.339 billion while payment for imports were worth $2.350 billion or a trade deficit of $10.77 million (Table 7).

Leading commodities exported to the EU – member countries in 2013 were Electronic Products, $3.630 billion; Other Manufactures, $677.58 million; Machinery and Transport Equipment, $349.91 million; Coconut Oil (crude and refined), $348.25  million; and Tuna (fresh, frozen, prepared or preserved in airtight containers), $326.58 million (Table 8).

Top five imported goods from the EU – member countries were: Electronic Products, $1.926 billion; Transport Equipment, $1.688 billion; Industrial Machinery and Equipment, $416.37 million; Medicinal and Pharmaceutical Products, $410.59 million; and Other Food and Live Animals, $205.35 million (Table 9).

 

ASEAN TOTAL TRADE STOOD AT $22.395 BILLION

Total external trade in goods with ASEAN – member countries for 2013 amounted to $22.395 billion or 18.8 percent of the country’s entire trade. Exports to ASEAN - member countries were valued at $8.844 billion while imports were worth $13.551 billion, generating a trade deficit of $4.707 billion. Singapore was the country’s top trading partner among the ASEAN - member countries with a total trade accounting for $8.378 billion or 37.4 percent share of the ASEAN total trade. Exports to Singapore registered a total of $4.142 billion while imports payment was $4.236 billion, reflecting a trade deficit of $93.57 million (Table 7).

Leading exports for the ASEAN – member countries in 2013 were: Electronic Products, $4.193 billion; Other Manufactures, $770.44 million; Petroleum Products, $677.48 million; Chemicals, $578.43 million; and Metal Components, $456.37 million (Table 8).

Top five imports from the ASEAN – member countries were: Electronic Products, $3.121 billion; Mineral Fuels, Lubricants and Related Materials, $2.478 billion; Transport Equipment, $1.869 billion; Other Food and Live Animals, $661.25 million; and Plastics in Primary and Non-Primary Forms, $624.85 million (Table 9).

 

 

TOTAL TRADE WITH APEC REACHED $96.104 BILLION

The total external trade for 2013 with APEC – member countries amounted to $96.104 billion or 80.7 percent of the country’s entire trade. Export receipts totaled to $47.632 billion or 84.0 percent of the total exports while import payment summed up to $48.472 billion or 77.7 percent share of the total imports resulting to a trade deficit of $839.61 million. Topping the list were: Japan, $17.273 billion or 18.0 percent share; USA, $15.344 or 16.0 percent share; People’s Republic of China, $15.098 billion or 15.7 percent share; and Singapore, $8.378 billion or 8.7 percent share of the APEC total trade (Table 10).

Electronic Products were still the country’s major export to APEC – member countries for 2013 with sales valued at $19.733 billion or 41.4 percent share of the total APEC exports. Other top exported commodities were: Other Manufactures, $4.669 billion; Woodcrafts and Furniture, $3.272 billion; Chemicals, $2.413 billion; and Other Mineral Products, $1.839 billion (Table 11).

The top imported goods from APEC countries were: Electronic Products, $13.504 billion; Mineral Fuels, Lubricants and Related Materials, $8.123 billion; Transport Equipment, $4.194 billion; Industrial Machinery and Equipment, $2.676 billion; and Iron and Steel, $1.411 billion (Table 12).

 

 

Technical Notes:

1.   The commodity groupings in this Special Release are in accordance with the 2004 Philippine Standard Commodity Classification (PSCC).  This is in compliance with   NSCB   Resolution No. 03, Series of 2005 entitled “Approving and Adopting the 2004 Philippine Standard Commodity Classification” by all concerned government agencies and instrumentalities.

2. All transactions that pass through the Automated Export Documentation System (AEDS) and Electronic to Mobile (E2M) System are included in the compilation of export statistics.

3. Starting with 2010 series, import statistics are adjusted based on the transactions that pass through the Electronic to Mobile (E2M) System.

 

 

 

 

 

 

 

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