Foreign Trade Statistics of the Philippines: First Semester 2012

Reference Number: 

SR-760

Release Date: 

Monday, October 22, 2012

 

FIRST SEMESTER 2012 TOTAL TRADE STOOD AT $57.506 BILLION

Total external trade in goods for the first six months of 2012 reached $57.506 billion, representing a 3.6 percent increase from $55.499 billion in 2011. This was due to the 0.3 percent positive growth of the total imports to $30.749 billion from $30.653 billion during the first semester of 2011. Total export receipts on the other hand, grew by 7.7 percent to $26.757 billion from $24.846 billion during the first semester of 2011. The balance of trade in goods (BOT-G) for the Philippines registered a $3.991 billion deficit in the first semester of 2012 lower than the $5.807 billion deficit in the same period last year (Table 1).

2012 FIRST SEMESTER’S TOP 10 EXPORTS ACCOUNT FOR 63.2 PERCENT OF TOTAL RECEIPTS

Accounting for 63.2 percent of the aggregate export revenue in the first semester of 2012, receipts from the top ten exports totaled to $16.924 billion, posting a 1.6 percent negative growth from $17.204 billion in 2011 first semester (Table 2).

Electronic Products continued to be the top earner for the first semester of 2012 with 45.4 percent of the total exports but with a decline of 3.9 percent from $12.638 billion to $12.145 billion in the first semester of 2012.

Woodcrafts and Furniture followed with a share of 3.7 percent and a receipt of $977.16 million or 15.0 percent higher than the 2011 first semester’s value of $849.50 million.

Articles of Apparel and Clothing Accessories ranked third with a share of 3.4 percent, posting a slight increase of 0.4 percent to $921.07 million from $917.07 million in the first semester of 2011.

Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consist only of electrical wiring harness for motor vehicles), with share of 2.6 percent, ranked fourth with export receipts of $709.00 million or 50.0 percent higher from the 2011 first semester value of $472.65 million.

Metal Components contributing 2.4 percent of the total export receipts was the PH’s fifth top export in the first semester of 2012 with sales amounting to $642.73 million, reflecting an increase of 70.9 percent, the highest annual growth among the top ten exports from $376.11 million during the first semester of 2011.

Rounding up the list of top ten exports for the first semester in 2012 were Coconut oil (includes crude and refined) with an export value of $536.82 million, down by 36.7 percent; Gold, worth $274.49 million, grew by 32.7 percent; Bananas (Fresh), $271.83 million, rose by 18.1 percent; Other Products Manufactured from Materials Imported on Consignment Basis, worth $236.35 million or a decrease of 5.4 percent; and Petroleum Products (includes refined petroleum products, manufactures from crude petroleum oil imported on consignment basis) with proceeds billed at $208.82 million, dropped by 49.8 percent from $415.72 million in the first semester of 2011.

2012 FIRST SEMESTER’S TOP 10 IMPORTS ACCOUNT FOR 75.7 PERCENT OF IMPORT BILL

Aggregate payment for the country’s top ten imports for the first semester of 2012 reached $23.274 billion or 75.7 percent of the total import bill, registering a positive growth of 1.4 percent from $22.953 billion during the first semester of 2011 (Table 3).

Electronic Products, accounting for 26.8 percent of the total import bill posted a decline of 17.0 percent from $9.939 billion in 2011 to $8.253 billion in the first semester of 2012.

Mineral Fuels, Lubricants and Related Materials ranked second with 22.9 percent share, up by 16.8 percent to $7.028 billion from last year first semester’s $6.016 billion.

Transport Equipment ranked third, comprising 7.5 percent of the total imports, grew by 60.2 percent to $2.310 billion from $1.442 billion during the first semester of 2011. Transport equipment reflected the highest year on year change among the top ten imports in first semester 2012.

Industrial Machinery and Equipment ranking fourth, recorded a 5.1 percent share and posted an increase of 9.5 percent to $1.560 billion worth of imports during the first semester of 2012 from $1.425 billion in 2011.

Plastics in Primary and Non-Primary Forms ranked fifth with 2.7 percent share of the total imports, worth $834.84 million, higher by 5.6 percent from $790.80 million during the first semester of 2011.

Organic and Inorganic Chemical, accounting for 2.6 percent of total imports, ranked sixth as foreign bill amounted to $785.09 million from $889.43 million, down by 11.7 percent.

Rounding up the list for the top ten imports for the first semester of 2012 were Cereals and Cereal Preparations, $710.12 million, decreased by 1.3 percent; Iron and Steel, $707.49 million, grew by 7.4 percent; Telecommunication Equipment and Electrical Machinery, $626.04 million, up by 5.7 percent; and Medicinal and Pharmaceutical Products, $458.37 million or a decrease of 4.2 percent.

JAPAN ACCOUNTS FOR 14.2 PERCENT OF PHILIPPINES’ TOTAL TRADE

The country’s top ten trading partners for the first semester of 2012 posted a total trade value of $43.737 billion or 76.1 percent of the total. This comprised a total export receipt of $21.827 billion or 81.6 percent of the total exports and total import bill of $21.910 billion or 71.3 percent of the total imports (Table 4).

Japan was the country’s top trading partner in the first semester of 2012, accounting for a total trade worth $8.174 billion or 14.2 percent of the country’s total trade. Exports to Japan totaled $4.767 billion while imports were valued at $3.407 billion, posting a trade surplus of $1.359 billion (Table 4).  Electronic Products got a large share of 29.6 percent of the total exports to Japan valued at $1.411 billion, followed by Woodcraft and Furniture at $878.34 million or 18.4 percent share of the total exports.  Majority of the imported products from Japan were Electronic Products billed at $1.250 billion or 36.7 percent of the total imports and Transport Equipment with $469.52 million or 13.8 percent share of the total imports (Tables 5 and 6).

USA followed as the country’s second largest trading partner in the first semester of 2012 with total trade worth $7.604 billion or 13.2 percent of the total trade. Export receipts from USA stood at $4.085 billion while payments for imports were valued at $3.520 billion, resulting to $564.85 million trade surplus (Table 4). The biggest export receipt came from Electronic Products at $1.697 billion or 41.5 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $597.51 million or 14.6 percent of the total exports to the country. Imported goods purchased from USA consisted of Electronic Products worth $1.818 billion or 51.7 percent of the country’s total imports. Transport Equipment was the second highest imports from USA with $354.93 million or a share of 10.1 percent.

People’s Republic of China came third accounting for $6.573 billion or 11.4 percent of the total trade in the first semester of 2012. Receipts from exports to China were valued at $3.416 billion while payment for imports totaled to $3.158 billion, reflecting a trade surplus of $257.80 million (Table 4).  The bulk of exports came from Electronic Products worth $2.310 billion or 67.6 percent of the total exports to the country.  Metal Components was a far second with $88.92 million or 2.6 percent share. Major imports from China were Electronic Products with purchases worth $764.14 million or 24.2 percent of the total purchases; Mineral Fuels, Lubricants and Related Materials valued at $260.88 million (8.3%); and Industrial Machinery and Equipment with payments worth $219.20 million (6.9%).

Singapore emerged as the fourth largest trading partner of the country for the first semester of 2012 with a total trade amounting to $4.533 billion or a share of 7.9 percent to total trade. Registered export receipts were valued at $2.202 billion while import bill reached $2.330 billion, resulting to a trade deficit of $127.99 million (Table 4).  Electronic Products with $1.662 billion comprised three-fourths (75.5%) of the country’s major exports to Singapore. Petroleum Products was a far second with $102.05 million (4.6%). Electronic Products with import bill of $994.31 million or 42.7 percent share, and Mineral Fuels, Lubricants and Related Materials worth $544.53 million or 23.4 percent share were the major imports from Singapore.

EUROPEAN UNION CORNERS 9.7 PERCENT OF PHILIPPINES’ TOTAL TRADE

Total external trade in goods with the European Union (EU) for the first semester of 2012 grossed $5.567 billion or 9.7 percent of the country’s total trade. Exports to EU reached $3.249 billion or 12.1 percent of the total export receipts, while imports were valued at $2.318 billion or a 7.5 percent share to total imports, resulting to a balance of trade in goods (BOT-G) surplus of $930.80 million. Among the EU member-countries, Germany was PH’s top trading partner with a total trade of $1.870 billion or 33.6 percent of EU’s total trade. Receipts from exports to Germany totaled to $1.190 billion while payment for imports was valued at $680.22 million or a trade surplus of $509.72 million (Table 7).

Leading exports for the EU member-countries for the first semester in 2012 were Electronic Products, $1.474 billion; Coconut Oil, $213.23 million; Articles of Apparel and Clothing Accessories, $126.27 million; Tuna, (includes fresh, frozen, preserved or preserved in airtight containers) $73.39 million; and Metal Components, $43.61 million (Table 8).

Top imports from the EU member-countries for the first semester in 2012 were Electronic Products, $749.98 million; Transport Equipment, $345.05 million; Industrial Machinery and Equipment, $210.86 million; Medicinal and Pharmaceutical Products, $190.13 million; and Paper and Paper Products, $63.38 million (Table 9).

ASEAN TOTAL TRADE STANDS AT $11.923 BILLION

Total external trade in goods with ASEAN member-countries for the first semester of 2012 amounted to $11.923 billion or 20.7 percent of the country’s entire trade. Exports to ASEAN member-countries were valued at $4.855 billion while imports were worth $7.068 billion, generating a trade deficit of $2.212 billion. Singapore emerged as the country’s top trading partner among the ASEAN member-countries with a total trade accounting for $4.533 billion or 38.0 percent share of the ASEAN total trade. Exports to Singapore registered a total of $2.202 billion while imports payment was $2.330 billion, which resulted to a trade deficit of $127.99 million (Table 7).

Leading exports for the ASEAN member-countries for the first semester in 2012 were Electronic Products, $2.318 billion; Metal Components, $210.18 million; Petroleum Products, $142.68 million; Cathodes and Sections of Cathodes of Refined Copper, $98.33 million; and Fertilizers, Manufactured, $54.81 million (Table 8).

Top imports from the ASEAN member-countries for the first semester in 2012 were Electronic Products, $1.736 billion; Mineral Fuels, Lubricants and Related Materials, $1.386 billion; Transport Equipment, $773.97 million; Plastics in Primary and Non-Primary Forms, $333.47 million; and Industrial Machinery and Equipment, $241.87 million (Table 9).

APEC TOTAL TRADE TO PHILIPPINES REACHES $46.526 BILLION

Total external trade with APEC member-countries for the first semester of 2012 amounted to $46.526 billion or 80.9 percent of the country’s entire trade. Export receipts totaled to $22.484 billion or 84.0 percent of the total exports while import payments summed up to $24.042 billion or 78.2 percent share of the total imports. Topping the list were Japan, $8.174 billion or 14.2 percent share; USA, $7.604 or 13.2 percent share; People’s Republic of China, $6.573 billion or 11.4 percent share; and Singapore, $4.533 billion or 7.9 percent share of the APEC total trade (Table 10).

Electronic Products were still the major export to APEC member-countries for the first semester of 2012 with receipts valued at $10.414 billion or 46.3 percent share of the total APEC exports. Other top exports were Woodcrafts and Furniture, $947.83 million; Articles of Apparel and Clothing Accessories, $752.74 million; Ignition Wiring Sets, $698.45 million; and Metal Components, $550.30 million (Table 11).

Topping the list of imported goods from APEC countries were Electronic Products,  $7.440 billion; Mineral Fuels, Lubricants and Related Materials, $3.935 billion; Transport Equipment, $1.868 billion; Industrial Machinery and Equipment, $1.304 billion; and Plastics in Primary and Non-Primary Forms, $722.41 million (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) 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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