Highlights of the Philippine Export and Import Statistics : November 2017

Reference Number: 

2018-005

Release Date: 

Wednesday, January 10, 2018

 

HIGHLIGHTS OF THE PHILIPPINE EXPORT AND IMPORT STATISTICS

NOVEMBER 2017 (Preliminary)

 

 

Exports

Imports

November 2017 p

November 2016 r

November 2017 p

November 2016 r

TOTAL

 

 

 

 

     FOB Value (in Million US Dollars)

4,963.15

4,886.88

8,744.19

7,377.52

        Year-on-Year Growth (Percent)

1.6

-4.5

18.5

21.0

Electronic Products

 

 

 

 

     FOB Value (in Million US Dollars)

2,883.82

2,558.70

2,423.13

1,963.55

        Year-on-Year Growth (Percent)

12.7

-7.4

23.4

-6.7

 

Top 10 Philippine Exports to All Countries: November 2017 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Cathodes and Sections of Cathodes, of Refined Copper
 418.6
Machinery and Transport Equipment
 -33.7
Gold
 136.7
Other Manufactured Goods
 -26.8
Electronic Equipment and Parts
   47.5
Coconut Oil
   -8.0
Metal Components
   25.4
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
   -0.1
Miscellaneous Manufactured Articles, n.e.s.
   14.8
 
 
Electronic Products
   12.7    
           
 
Top 10 Philippine Imports from All Countries: November 2017 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Organic and Inorganic Chemicals
   44.9
Other Food and Live Animals
   -4.0
Mineral Fuels, Lubricants and Related Material
   38.6
Plastics in Primary and Non-primary Forms
   -2.2
Telecommunication Equipment and Electrical Machinery
   32.8
Industrial Machinery and Equipment
   -1.2
Miscellaneous Manufactured Articles
   29.6
 
   
Iron and Steel
   26.4
 
   
Electronic Products    23.4      
Transport Equipment      6.0    
p - preliminary, r - revised

 

 

1.    TOTAL TRADE SUMS UP TO $13.71 BILLION IN NOVEMBER 2017

The country’s total external trade in goods in November 2017 amounted to $13.71 billion, reflecting an improvement of 11.8 percent from $12.26 billion registered during the same month of the previous year. Total exports posted an increase of 1.6 percent to $4.96 billion in November 2017 from $4.89 billion in the same month of previous year.  Moreover, total imports went up by 18.5 percent to $8.74 billion in November 2017 from $7.38 billion in November 2016.  This is translated to a deficit in the country’s  balance of trade in goods (BoT-G) amounting to $3.78 billion in November 2017, higher than the $2.49 billion deficit in November 2016.  (Tables 1, 2 and 3)

 

2.    EXPORTS REFLECTS GROWTH OF 1.6 PERCENT AND IMPORTS, 18.5 PERCENT

The country’s total export sales reached $4.96 billion in November 2017, an increase of 1.6 percent over the value of $4.89 billion in the same month of previous year. This was supported by the double-digit growths of six out of the top ten major commodities for the month.  These were: cathodes and sections of cathodes, of refined copper (418.6%); gold (136.7%); electronic equipment and parts (47.5%); metal components (25.4%); miscellaneous manufactured articles (14.8%) and electronic products (12.7%)  (Table 2).

On the other hand, total   imported goods for the month of November 2017 amounted to $8.74 billion, which increased by 18.5 percent from $7.38 billion recorded during the same period of the previous year.   The increase was brought about by the positive growth of seven out of the top ten major import commodities for the month.  These were the following: organic and inorganic chemicals (44.9%); mineral fuels, lubricants and related materials (38.6%); telecommunication equipment and electrical machinery (32.8%) miscellaneous manufactured articles (29.6%); iron and steel (26.4%); electronic products (23.4%); and transport equipment (6.0%) (Table 3).

 

3. EXPORTS OF ELECTRONIC PRODUCTS GROW BY 12.7 PERCENT

Electronic Products led the top ten export commodities with total sales of $2.88 billion, comprising 58.1 percent share of the total exports revenue in November 2017. Exports of this commodity expanded by 12.7 percent from a value of $2.56 billion in November 2016. Components/Devices (Semiconductors) accounted for the  largest share of 42.9 percent among electronic products increasing by 17.8 percent to $2.13 billion in November 2017 from $1.81 billion in November 2016.

Other Manufactured Goods, placed second with an export revenue of $269.79 million.  Export sales of this commodity group declined by 26.8 percent  from the $368.42 million recorded in November 2016.

Cathodes and Section of Cathodes, of Refined Copper ranked third, with export receipts of $173.59 million and a share of 3.5 percent. This export commodity surged to 418.6 percent in November 2017 over the recorded value of $33.47 million in November 2016.

Machinery and Transport Equipment came in fourth, with $158.35 million or a share of 3.2 percent of the total export receipts. This export commodity dropped by 33.7 percent  from the $238.68 million posted in November 2016.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships placed fifth with $152.49 million and a 3.1 percent share of the total export receipts in November 2017.  It declined slightly by 0.1 percent from the previous year’s $152.60 million.

Rounding up the list of the top ten exports and their corresponding sales are:

  • Metal Components with $126.51 went up by 25.4 percent
  • Coconut Oil, with  $117.26 million, declined by 8.0 percent;
  • Gold, with $109.36 million expanded by 136.7 percent;
  • Electronic Equipment and Parts, with $93.34 million, rose by 47.5 percent;
  • Miscellaneous Manufactured Articles, with $65.10 million, went up by  14.8 percent;

Total receipts from the top ten major exports reached $4.15 billion or a share of 83.6 percent of the total export, posting an increment of 10.8 percent from the previous year’s level of $3.75 billion. (Table 2)

Total  exports  for  January  to  November  2017  reached $58.10 billion, which increased by 10.8 percent compared to $52.44 billion in the same period of the previous year.   (Table 2a)

 

4.    ELECTRONIC PRODUCTS COMPRISE 27.7 PERCENT OF TOTAL IMPORT BILL

Total payment for the country’s top ten imports for November 2017 amounted to $6.37 billion, posting an increase of 18.7 percent over the previous year’s import value of $5.37 billion.  (Table 3)

Inbound shipments of Electronic Products in November 2017 accounted for 27.7 percent of the total import bill valued at $2.42 billion.  It increased by 23.4 percent from the $1.96 billion posted during the same month of the previous year. Among electronic products, Components/Devices (Semiconductors),   reflected the biggest   share  of 19.1 percent.  It went up by 35.0 percent to $1.67 billion in November 2017 from $1.24 billion in November 2016.

Transport Equipment  placed second with  an import value of $926.68 million. This commodity increased by almost 6.0 percent from the previous year’s import value of $874.66 million.

Minerals   Fuels,   Lubricants    and    Related   Materials, comprising 10.3 percent share to total import bills was the country’s  third top   import  for   the   month amounting to  $899.98 million.   It went up by 38.6  percent over the previous year’s value of $649.51 million.

Imports of Industrial Machinery and Equipment ranked fourth, valued at $528.53 million in November 2017 and a 6.0 percent share to total import.  Import of this commodity dropped by 1.2 percent from $534.99 million in November 2016.

Iron and Steel, came in fifth with an import value of $358.93 million and a share of 4.1 percent. Import of this commodity expanded by  26.4 percent over the last year’s figure of $284.04 million.

Completing the list of the top ten imports for November 2017 were: 

  • Miscellaneous Manufactured Articles, $320.40 million, rose by 29.6 percent;
  • Other Food and Live Animals, $287.62 million, dropped by 4.0 percent;
  • Telecommunication Equipment and Electrical Machinery, $238.64 million, expanded   by 32.8 percent; 
  • Plastic in Primary and Non-Primary Forms, $203.09 million, decreased by 2.2 percent; and
  • Organic and Inorganic Chemicals, $180.33 million, grew by 44.9 percent.

Total imports from January to November 2017 was valued at $83.80 billion which grew by 9.3 percent over the $76.68 billion in January to November 2016. (Table 3a)

 

5.    EXPORTS OF MANUFACTURED GOODS DROP BY 1.5 PERCENT

Exports of Manufactured Goods, with a share of 83.3 percent of total exports, were valued at $4.13 billion, in November 2017 (Table 4). 

Total Agro-Based Products with an export value of $288.48 million and a share of 5.8 percent, declined by 28.5 percent in November 2017.

Exports from Mineral Products reached $364.28 million contributing a share of 7.3 percent of total exports. It expanded by 128.5  percent in November 2017.

Merchandise exports from Special Transactions, amounted to $104.61 million with a share of 2.1 percent to the total exports revenue.  Exports of this commodity group contracted by 1.0 percent in November 2017 from the previous year’s export value of $105.72 million. 

Petroleum Products with 0.9 percent share amounting to $44.20 million, surged  by 130.4 percent from $19.18 million in November 2016.

Forest Products accounting for 0.6 percent share of the total exports posted a value of $28.34 million. Exports of this goods surged by 1,129.0 percent in November 2017.

 

6.    IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS COMPRISE 37.9 PERCENT

By major type of goods, imports of Raw Materials and Intermediate Goods accounted  for the  largest share of 37.9 percent to total  imports.  It grew  by 18.9 percent  to   $3.31 billion in November 2017 from $2.78 billion in November 2016.  Semi-Processed Raw Materials, valued at  $3.07 billion, accounted for 35.1 percent share of the commodity group. Import of this commodity posted an increment of 20.4 percent from the  $2.55 billion posted in November 2016. (Table 5)

Imports of Capital Goods in November 2017 reached $2.88 billion, comprising 32.9 percent share of the total imports.  It went up by 16.1 percent over the previous  year's import value  of $2.48 billion. 

Imports of Consumer Goods comprising an 18.5 percent share amounted to  $1.62  billion in November  2017. It went up by 14.4 percent from $1.41 billion registered in November 2016.

Mineral Fuels, Lubricants and Related Materials accounting for 10.3 percent share of total imports, rose by 38.6 percent to $899.98 million in November  2017 from $649.51 million in november 2016.  Other mineral fuels, lubricants and related materials such as gas oils and greases had the biggest share of imports for this commodity group at 5.4 percent valued at $471.89 million. 

Moreover, imports of  Special  Transactions  slid by 26.4 percent from $49.44 million registered  in November 2016 to $36.36 million in November 2017.  

7.    HONG KONG TOPS AS THE EXPORT DESTINATION

Total exports receipt recorded by the country’s top ten market destinations for the November 2017 amounted to $4.13 billion or 83.2 percent share of the total (Table 6). 

Hong Kong, ranked first with an export value of $765.95 million and a share of 15.4 percent of total exports in November 2017. It increased by 24.0 percent from $617.66 million in November 2016.

Japan, including Okinawa came in second with $751.27 million or 15.1 percent share of the total exports.  It went down by 17.5 percent from $910.79 million in the same month the previous year.

United States of America (USA), including Alaska and Hawaii, placed third with exports valued at $690.47 million, contributing 13.9 percent share of the total exports for November 2017.  It increased by 0.9 percent from $683.99 million recorded in November 2016.

People’s Republic of China, ranked fourth   with   export shipments   valued   at $547.90 million and a share of 11.0 percent.  Exports to this country went down by 3.8 percent from $569.74 million recorded in the same month the previous year.

Singapore placed fifth, accounting for 6.6 percent share of total exports, recording a value of $327.22 million.  It grew by 4.5 percent from $313.17 million posted in November 2016.

Completing  the  top   ten market destinations for   November 2017 were: Thailand, $255.50 million; Germany, $209.61 million; Netherlands, $206.47 million Taiwan, $188.62 million; million; and Republic of Korea, $186.59 million.

 

8.  IMPORTS FROM PEOPLE’S REPUBLIC OF CHINA ACCOUNTS FOR 19.4 PERCENT

Total payments from the top ten imports for November 2017 reached $6.96 billion or 79.6 percent of the total. 

People’s Republic of China  was the country’s biggest source of imports with 19.4 percent share in November 2017.  Import payments to this country was recorded at   $1.69 billion, posting an increase  of 14.0 percent from $1.48 billion in November 2016.

Japan, including Okinawa placed second, accounting for 10.8 percent with an import value of $946.39 million in November 2017.  It increased by 16.5 percent from the November 2016 value of $812.60 million.   

Republic of Korea  comprising for 10.4 percent share, came in third with imports valued at $907.45 million in November 2017. Import bills to this country expanded by 101.3 percent from $450.88 million in November 2016. 

Thailand, including Alaska and Hawaii ranked fourth, with a 7.1 percent share of the total import bills in November  2017.  It grew  by 10.7 percent to $620.02 million in November 2017 from $559.91 million in November 2016.

United States of America (USA), including Alaska and Hawaii  comprising for 6.6 percent share, placed fifth with imports valued at $580.70 million in November 2017. Import bills to this country recorded a decrease of 4.4 percent  from  $607.19 million  in  November 2016. 

Rounding the list of major sources of imports for the month of November 2017 were: Singapore, $541.91 million; Indonesia, $527.57 million; Taiwan, $500.92 million; Malaysia (includes Sabah and Sarawak), $391.32 million; and Hong Kong, $252.14 million.

 

9.    EXPORTS TO COUNTRIES IN EAST ASIA ALMOST HALF

By economic bloc, the bulk of the country’s merchandise exports in November 2017 went to countries in East Asia,   comprising for 49.2 percent share of total exports valued at $2.44 billion.  It fell by 4.5 percent from $2.56 billion in November 2016.        

Commodities exported to ASEAN member countries comprised 18.1 percent of the total exports in November 2017 valued at $897.99 million. This registered an increment of 17.9 percent from $761.55 million posted in the same month of the previous year. (Table 7)

Exports to European Union member countries, was valued at $633.92 million and a share of 12.8 percent of total merchandise exports. It went up by 12.0 percent from $565.93 million registered  in November 2016.

 

10.     IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR ALMOST HALF

By economic bloc, East Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) was the biggest supplier of the country’s imports in November 2017 comprising 49.2 percent of the total imports valued at $4.30 billion.  It grew by 26.4 percent from $3.40 billion in November 2016. 

Commodities    imported   from   ASEAN   member   countries reached  $2.31 billion.  It comprised a 26.4 percent share to the total imports increasing by 16.0 percent from the previous year’s import recorded at $1.99 billion.

Imports     from    European Union   reached   $538.55 million.  It went down by 9.0 percent from the previous year’s value of $592.11 million.  (Table 9)

 

 

 

Technical 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 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed 10-digit code level for statistical purposes.

Data requests of 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

 

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