Accounting for 30.4 percent of the aggregate import bill, payments for Electronic Products (including consigned and direct importation using the expanded coverage of electronic products) in April 2009 amounted to $924.42 million. It plummeted by 42.0 percent over last year's figure of $1.595 billion. This was due to the 46.7 percent decrease in the Components/Devices (Semiconductors) which comprised the biggest share of 21.2 percent among the major groups of electronic products.  Similarly, it decreased by 17.3 percent from $1.117 billion posted a month ago.

Imports of Mineral Fuels, Lubricants and Related Materials comprising 18.1 percent of the total imports in April 2009 ranked second,  valued at $551.67 million over the previous year’s level of $1.037 billion.

Cereals and Cereal Preparations, amounting to $242.11 million was the RP’s third top import for the month with 8.0 percent share to total imports and showed a positive annual growth of 0.9 percent.   

Contributing 4.2 percent to the total import bill and RP’s fourth top imports in April 2009 was Transport Equipment with payments placed at $126.65 million.  The amount decreased by 58.3 percent from last year’s value of $304.07 million. 

Fifth in rank and with 3.5 percent share, Industrial Machinery and Equipment registered $106.01 million worth of imports, lower by 47.8 percent from its year ago level of $203.25 million.

Organic and Inorganic Chemicals ranked sixth, representing 3.2 percent of the total imports recorded $97.08 million worth of imports up by 3.0 percent from its year ago level of $94.27 million.

Rounding up the list of the top ten imports for April 2009 were Medicinal and Pharmaceutical Products, accounting for $61.84 million and showed the highest positive growth of 8.7 percent among the top ten imports;  Iron and Steel amounting to $56.60 million and posted the highest negative growth of 58.5 percent; Textile Yarn, Fabrics, Made-up Articles and Related Products (including consignment and not on consignment), $55.75 million; and  Plastics in Primary and Non-Primary Forms, $55.60 million.

Accounting for 34.8 percent of the total imports, payments in April 2009 for Raw Materials and Intermediate Goods amounted to $1.059 billion or 42.6 percent decline over last year's figure of $1.843 billion.  Compared to the previous month’s level, purchases fell by 21.5 percent from $1.349 billion. Semi-Processed Raw Materials having the biggest share of 29.7 percent and valued at $903.10 million decreased by 44.5 percent from $1.627 billion level a year ago.

Capital Goods, contributing 29.1 percent to the total imports, plummeted by 35.2 percent year-on-year to $885.01 million from $1.366 billion. Similarly, Mineral Fuels, Lubricants and Related Materials with 18.1 percent share, went down by 46.8 percent to $551.67 million from $1.037 billion in April 2008.

Purchases of Consumer Goods amounted to $502.10 million or a negative growth of 8.9 percent from $551.64 million in April 2008, while Special Transactions dropped by 26.3 percent to $43.66 million from $59.23 million in April 2008.  

IMPORTS FROM JAPAN ACCOUNTED FOR 12.9 PERCENT

Rank fourth in April 2009 and  with 7.2 percent share  was Vietnam valued at $219.76 million.  This amount increased by 49.7 percent from $146.80 million posted in April 2008. Exports to Vietnam amounted to $42.15 million resulting to a total trade value of $261.91 million and a trade deficit of $177.61 million.

Fifth in rank is Singapore, representing 7.1 percent of the total import bill in April 2009, amounting to $215.95 million. Meanwhile, export receipts from Singapore in April 2009 reached $169.68 million yielding a total trade value of $385.64 million and a trade deficit of $46.27 million.

Other major sources of imports for the month of April 2009 were Taiwan, $211.00 million; Republic of Korea,   $165.35 million; Thailand, $140.35 million; Malaysia (including Sabah and Sarawak), $133.69 million; and Indonesia, $112.37 million.

Payments for imports from the top ten sources for April 2009 amounted to $2.192  billion or 72.1 percent of the total.

Figure 4  Philippine Imports by Country in April : 2009
 

Technical Notes:

1. Adjustments on electronic import statistics are based on the transactions that pass through the Automated Cargo Operating System (ACOS) of the Bureau of Customs (BOC).

2. Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings.  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.