Date Released: October 21, 2010
FOREIGN TRADE STATISTICS OF THE PHILIPPINES
FIRST SEMESTER 2010
FIRST SEMESTER 2010 TOTAL TRADE STOOD AT $49.954 BILLION
Total
external trade in goods for the first semester of 2010 reached $49.954 billion,
representing a 32.8 percent increase from $37.604 billion during the first
semester of 2009. This was due to the 28.7 percent growth of the total imports
to $26.233 billion from $20.379 billion during the first semester of 2010.
Similarly, total export receipts were up by 37.7 percent to $23.721 billion from
$17.225 billion during the first semester of 2010. The balance of trade in goods
(BOT-G) for the Philippines registered a $2.512 billion deficit in the first
semester of 2010 from $3.155 billion deficit in the same period last year.
2010 FIRST SEMESTER'S TOP 10
EXPORTS ACCOUNTED FOR 75.6 PERCENT
Accounting for 75.6 percent of the aggregate export revenue in the first
semester of 2010, receipts from the top ten exports totaled to $17.927 billion,
posting a 41.2 percent positive growth from $12.696 billion during the first
semester in 2009. (see Table 2)
Electronic Products
Articles of Apparel and Clothing Accessories
followed with a combined share of 3.4 percent and an aggregate receipt of $807.49 million or 5.6 percent higher than the 2009 first semester’s value of $764.80 million.Coconut oil
ranked third with a share of 2.4 percent, posting the highest growth among the top ten export of 184.5 percent to $572.44 million from $201.24 million in the first semester of 2009.Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
(consisted only of electrical wiring harness for motor vehicles), accounting for 2.1 percent share, ranked fourth with export receipts of $508.76 million or 91.1 percent higher from the 2009 first semester value of $266.22 million.Woodcrafts and Furniture
contributing 2.1 percent of the total export receipts was the RP’s fifth top export in the first semester of 2010 with sales amounting to $506.35 million, reflecting an increased of 9.7 percent from $461.61 million during the first semester of 2009.Rounding up the list of top ten exports for the first semester in 2010 were
Metal Components with an export value of $378.28 million, up by 93.6 percent; Cathodes and Sections of Cathodes of Refined Copper, worth $358.93 million, fell by 1.7 percent; Other Products Manufactured from Materials Imported on Consignment Basis, $315.79 million, grew by 2.1 percent; Tuna, worth $167.26 million shrank by 4.2 percent; and Bananas (Fresh) with proceeds billed at $138.55 million, fell by 30.3 percent from $198.78 million.Figure 2 Philippine Top Five Exports: First Semester 2010 and 2009
2010 FIRST SEMESTER’S TOP 10 IMPORTS ACCOUNTED FOR 78.0 PERCENT
Aggregate payment for the country’s top ten imports for the first semester of 2010 reached $20.457 billion or 78.0 percent of the total import bill, registering a positive growth of 31.8 percent from $15.520 billion during the first semester of 2009. (see Table 3)
Electronic Products
Mineral Fuels, Lubricants and Related Materials
ranked second with 18.0 percent share, up by 43.3 percent to $4.725 billion from last year first semester’s $3.296 billion.Cereals and Cereal Preparations
ranked third, comprising 6.2 percent of the total imports and grew by 12.1 percent to $1.636 billion from $1.459 billion during the first semester of 2009.Transport Equipment,
ranking fourth, recorded a share of 5.8 percent or $1.513 billion worth of imports and posted a growth of 47.6 percent from $1.025 billion during the first semester of 2009.Industrial Machinery and Equipment
ranked fifth with 4.4 percent share of the total imports, worth $1.144 million which was higher by 47.4 percent from $776.13 million during the first semester of 2009.Organic and Inorganic Chemical
, accounting for 2.5 percent of total imports, ranked sixth as foreign bill amounted to $663.26 million, up by 18.4 percent from $560.18 million during the first semester of 2009.Rounding up the list for the top ten imports for the first semester of 2010 were
Iron and Steel, $573.56 million; Plastics in Primary and Non-Primary Forms, $532.64 million; Metalliferous Ores and Metal Scrap, $452.63 million; and Telecommunication Equipment and Electrical Machinery, $449.23 million.
Figure 3 Philippine Top Six
Imports: First Semester 2010 and 2009
JAPAN CORNERED 14.0 PERCENT OF
RP’s TOTAL TRADE
The
country’s top ten trading partners for the first semester of 2010 posted a total
trade value of $37.997 billion or 76.1 percent of the total. This comprised of
total export receipts of $19.401 billion or 81.8 percent of the total exports
and total import bill of $18.597 billion or 70.9 percent of the total imports.
Japan
was still the country’s top trading partner in the first semester of 2010,
accounting for a total trade worth $6.982 billion or 14.0 percent of the
country’s total trade. Exports to
Japan
totaled $3.784 billion while imports were valued at $3.198 billion, posting a
trade surplus of $586.19 million. (see Table 4) Electronic Products
got a large share of $1.857 billion or 49.1 percent of the total exports to the
country, followed by Woodcraft and Furniture at $422.55 million or 11.2
percent share of the total exports. Majority of the imported products from
Japan were Electronic Products billed at $1.476 billion or 46.2 percent
of the total imports and Transport Equipment at $343.64 million or 10.7
percent share of the total imports. (see Tables 5 and 6)
United
States of America (USA)
followed
as the country’s
second largest trading partner in the first semester of 2010 with total trade
worth $6.725 billion or 13.5 percent of the total trade. Export receipts from
USA
stood at $3.887 billion while payments for imports were valued at $2.838
billion, resulting to $1,049 billion trade surplus. (see Table 4) The
biggest receipt came from Electronic Products at $1.942 billion or 50.0
percent of the country’s exports to USA. Articles of Apparel and Clothing
Accessories followed with total receipts of $568.12 million or 14.6 percent
of the total exports to the country. Imported goods purchased from USA consisted
of Electronic Products worth $1.601 billion or 56.4 percent of the total
imports from the country. Transport Equipment was next at $201.68 million
or a share of 7.1 percent of the total imports from the country. (see Tables
5 and 6)
Singapore came
third accounting for $5.200 billion or 10.4 percent of the total
trade in the first semester of 2010. Receipts from exports to
Singapore
were valued at $2.518 billion while payment for imports totaled to $2.682
billion, reflecting a trade deficit of $163.15 million. (see Table 4)
The bulk of exports came from Electronic Products worth $2.266 billion
or 90.0 percent of the total exports to the country and Petroleum Products
at $44.13 million or 1.8 percent share. Major imports from Singapore were
Mineral Fuels, Lubricants and Related Materials with purchases worth
$1.057 billion or 39.4 percent of the total; Electronic Products valued
at $973.36 million or 36.3 percent of the total; and Industrial
Machinery and Equipment with payments of $129.86 million or 4.8 percent of
the total. (see Tables 5 and 6)
People’s Republic of China
emerged as the fourth largest trading partner of the country for the first
semester of 2010 with a total trade amounting to $4.307 billion or a share of
8.6 percent to total trade. Registered export receipts were valued at $2.234
billion while import bill reached $2.073 billion, resulting to a trade surplus
of $161.13 million. (see Table 4) Electronic Products and
Cathodes and Sections of Cathodes, of Refined Copper were the country’s
major exports to China with earnings of $1.480 billion or 66.2 percent share and
$128.94 million or 5.8 percent of the total exports, respectively. Similarly,
Electronic Products with import bill of $745.11 million or 35.9 percent
share, and Iron and Steel worth $135.09 million or 6.5 percent
share were the major imports from China. (see Tables 5 and 6)
EUROPEAN UNION CORNERED 11.6
PERCENT OF RP’s TOTAL TRADE
Total
external trade in goods with the European Union (EU) for the first
semester of 2010 grossed $5.793 billion or 11.6 percent of the country’s total
trade. Exports to EU reached $4.078 billion or 17.2 percent of the total
export receipts, while imports were valued at $1.715 billion with a share of 6.5
percent, resulting to a balance of trade in goods (BOT-G) surplus of $2.362
billion. Among the EU member-countries,
Germany
was RP’s top trading partner with a total trade of $2.137 billion or 36.9
percent of EU’s total trade. Receipts from exports to
Germany
totaled to
Leading exports for the EU member-countries for the first semester in 2010 were Electronic Products, $2.709 billion; Coconut Oil, $267.54 million; Other Products Manufactured from Materials Imported, $153.53 million; Articles of Apparel and Clothing Accessories, $101.67 million; and Tuna, $76.99 million. (see Table 8)
Top imports from the EU
member-countries for the first semester in 2010 were Electronic Products,
$638.02 million;
Medicinal and Pharmaceutical Products,
$169.33 million;
Industrial Machinery and Equipment, $136.50 million; Power Generating and
Specialized Machinery, $63.42 million; and
Paper and Paper Products,
$48.59 million.
(see Table 9)
ASEAN TOTAL TRADE STOOD AT
$12.437 BILLION
Total
external trade in goods with ASEAN member-countries for the first
semester of 2010 amounted to $12.437 billion or 24.9 percent of the country’s
entire trade. Exports to ASEAN member-countries were valued at $4.531
billion while imports were worth $7.906 billion, generating a trade deficit of
$3.375 billion.
Singapore emerged
as the country’s top trading partner among the ASEAN member-countries with a
total trade accounting for $5.200 billion or 41.8 percent share of the ASEAN
total trade. Exports to
Singapore
registered a total of $2.518 billion while imports payment was $2.682 billion,
which resulted to a trade deficit of $163.15 million. (see Table 7)
Top
exports for the ASEAN member-countries for the first semester in 2010 were
Electronic Products, $2.953 billion; Cathodes and Sections of Cathodes of
Refined Copper, $195.34 million; Metal Components, $168.06 million;
Petroleum Products, $58.49 million; and Fertilizers
Manufactured, $34.91 million. (see Table 8)
Leading
imports from the ASEAN member-countries for the first semester in 2010 were
Electronic Products, $1.840 billion;
Mineral Fuels, Lubricants
and Related Materials,
$1.775 billion; Cereals
and Cereal Preparations, $1.226 billion; Transport Equipment,
$716.36 million; and
Industrial Machinery and
Equipment,
$238.28 million. (see Table 9)
APEC TOTAL TRADE TO RP
REACHED $40.094 BILLION Total
external trade with APEC member-countries for the first semester of 2010
amounted to $40.094 billion or 80.3 percent of the entire trade. Export receipts
totaled to $18.713 billion or 78.9 percent of the total exports while import
payments summed up to $21.382 billion or 81.5 percent share of the total
imports. Topping the list were
Japan,
$6.982 billion or 14.0
percent share;
USA,
$6.725 or 13.5 percent share;
Singapore,
$5.200 billion or 10.4 percent share; and People’s Republic of
China,
$4.307 billion or 8.6 percent share of the APEC total trade. (see Table 10)
Electronic Products
were still the major export to APEC member-countries for the first semester of
2010 with receipts valued at $11.243 billion or 60.1 percent share of the total
APEC exports. Other top exports were Articles of Apparel and Clothing
Accessories, $651.67 million; Ignition Wiring Sets, $506.84 million;
Woodcrafts and Furniture, $485.25 million; and Cathodes and Section of
Cathodes of Refined Copper, $358.93 million. (see Table 11)
Topping the list of imported
goods from APEC countries were
Electronic Products,
$7.938 billion;
Mineral Fuels, Lubricants and Related Materials, $2.670 billion; Cereals
and Cereals Preparations, $1.452 billion; Transport Equipment,
$1.437 billion; and Industrial Machinery and Equipment, $970.17
million. (see Table 12)
TECHNICAL NOTES
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. All transactions that
pass through the Automated Export Documentation System (AEDS) are included in
the compilation of export statistics. Starting with 2007
series, import statistics are adjusted based on the transactions that pass
through the Automated Cargo Operating System (ACOS).
Source: National Statistics Office
Manila, Philippines
Page last revised: October 21, 2010