Date Released: December 7, 2011
FOREIGN TRADE
STATISTICS OF THE PHILIPPINES:
FIRST SEMESTER 2011
FIRST SEMESTER
2011 TOTAL TRADE STANDS AT $55.257 BILLION
Total external trade in goods for the first
semester of 2011 reached $55.257 billion, representing a 10.3 percent increase from
$50.257 billion during the first semester of 2010. This was due to the 15.6 percent
positive growth of the total imports to $30.501 billion from $26.377 billion during the
first semester of 2010. Meanwhile, total export receipts grew by 4.3 percent to $24.757
billion from $23.741 billion during the first semester of 2010. The balance of trade in
goods (BOT-G) for the Philippines registered a $5.744 billion deficit in the first
semester of 2011 from $2.636 billion deficit in the same period last year.
2011 FIRST SEMESTER’S TOP 10 EXPORTS ACCOUNT 71.2 PERCENT
Accounting for 71.2 percent of the aggregate export revenue in the first semester of 2011, receipts from the top ten exports totaled to $17.632 billion, posting a 1.5 percent negative growth from $17.903 billion during the first semester in 2010 (Table 2).
Electronic Products continued to be the top earner for the first semester of 2011 with 51.1 percent of the total exports or a decline of 10.8 percent from $14.173 billion to $12.638 billion in the first semester of 2011.
Articles of Apparel and Clothing Accessories followed with a share of 3.7 percent and an aggregate receipt of $917.00 million or 13.6 percent higher than the 2010 first semester’s value of $807.48 million.
Woodcrafts and Furniture ranked third with a share of 3.4 percent, posting an increase of 67.8 percent to $849.50 million from $506.35 million in the first semester of 2010.
Coconut oil, also with share of 3.4 percent, ranked fourth with export receipts of $848.29 million or 48.2 percent higher from the 2010 first semester value of $572.23 million.
Cathodes & Sections of Cathodes, of Refined Copper contributing 2.6 percent of the total export receipts, was the PH’s fifth top export in the first semester of 2011 with sales amounting to $634.84 million, reflecting an increase of 69.9 percent from $373.73 million during the first semester of 2010.
Rounding up the list of top ten exports for the first semester in 2011 were Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consist only of electrical wiring harness for motor vehicles) with an export value of $472.65 million, down by 7.1 percent; Petroleum Products, worth $415.51 million, grew by 224.0 percent and registered the highest annual growth among the top exports; Metal Components, $375.79 million, slightly shrank by 0.7 percent; Other Products Manufactured from Materials Imported on Consignment Basis, worth $249.96 million or a decrease of 20.8 percent; and Bananas (Fresh) with proceeds billed at $230.26 million, gained by 66.2 percent from $138.55 million in the first semester of 2010.
2011 FIRST SEMESTER’S TOP 10 IMPORTS ACCOUNT 75.0 PERCENT
Aggregate payment for the country’s top ten imports for the first semester of 2011 reached $22.867 billion or 75.0 percent of the total import bill, registering a positive growth of 11.4 percent from $20.524 billion during the first semester of 2010 (Table 3).
Electronic Products, accounting for 32.6 percent of the total import bill posted an increment of 13.4 percent to $9.941 billion from $8.767 billion during the first semester of 2010.
Mineral Fuels, Lubricants and Related Materials ranked second with 19.5 percent share, up by 24.5 percent to $5.943 billion from last year first semester’s $4.774 billion.
Transport Equipment ranked third, comprising 4.7 percent of the total imports, fell by 7.4 percent from $1.556 billion to $1.441 billion during the first semester of 2011.
Industrial Machinery and Equipment ranking fourth, also recorded a 4.7 percent share and posted an increase of 22.8 percent to $1.425 billion worth of imports from $1.161 billion during the first semester of 2010.
Organic and Inorganic Chemical ranked fifth with 2.9 percent share of the total imports, worth $883.82 million, higher by 33.3 percent from $662.87 million during the first semester of 2010.
Plastics in Primary and Non-Primary Forms, accounting for 2.6 percent of total imports, ranked sixth as foreign bill amounted to $789.53 million, up by 48.2 percent (highest year on year change among the top ten imports in first semester 2011) from $532.61 million during the first semester of 2010.
Rounding up the list for the top ten imports for the first semester of 2011 were Cereals and Cereal Preparations, $713.68 million, decreased by 56.8 percent; Iron and Steel, $658.03 million, grew by 13.7 percent; Telecommunication Equipment and Electrical Machinery, $592.84 million, up by 32.0 percent; and Medicinal and Pharmaceutical Products, $478.81 million or an annual increase of 22.9 percent.
JAPAN CORNERS 13.2 PERCENT OF RP’s TOTAL TRADE
The country’s top ten trading partners for the first semester of 2011 posted a total trade value of $41.570 billion or 75.2 percent of the total. This comprised a total export receipt of $20.241 billion or 81.8 percent of the total exports and total import bill of $21.329 billion or 69.9 percent of the total imports.
Japan was the country’s top trading partner in the first semester of 2011, accounting for a total trade worth $7.285 billion or 13.2 percent of the country’s total trade. Exports to Japan totaled $4.290 billion while imports were valued at $2.995 billion, posting a trade surplus of $1.296 billion (Table 4). Electronic Products got a large share of 42.3 percent of the total exports valued at $1.813 billion, followed by Woodcraft and Furniture at $760.09 million or 17.7 percent share of the total exports. Majority of the imported products from Japan were Electronic Products billed at $1.135 billion or 37.9 percent of the total imports and Industrial Machinery and Equipment with $369.77 million or 12.3 percent share of the total imports (Tables 5 and 6).
USA followed the country’s second largest trading partner in the first semester of 2011 with total trade worth $7.121 billion or 12.9 percent of the total trade. Export receipts from USA stood at $3.668 billion while payments for imports were valued at $3.452 billion, resulting to $215.98 million trade surplus (Table 4). The biggest receipt came from Electronic Products at $1.384 billion or 37.7 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $639.32 million or 17.4 percent of the total exports to the country. Imported goods purchased from USA consisted of Electronic Products worth $2.018 billion or 58.4 percent of the country’s total imports. Cereals and Cereal Preparations second highest imports from USA with $226.16 million or a share of 6.6 percent (Tables 5 and 6).
People’s Republic of China came third accounting for $5.751 billion or 10.4 percent of the total trade in the first semester of 2011. Receipts from exports to China were valued at $2.898 billion while payment for imports totaled to $2.853 billion, reflecting a trade surplus of $45.58 million (Table 4). The bulk of exports came from Electronic Products worth $1.950 billion or 67.3 percent of the total exports to the country and from Cathodes and Sections of Cathodes of Refined Copper with $127.54 million or 4.4 percent share. Major imports from China were Electronic Products with purchases worth $674.73 million or 23.7 percent of the total; Iron and Steel valued at $204.84 million or 7.2 percent of the total; and Industrial Machinery and Equipment with payments with $193.20 million or 6.8 percent of the total (Tables 5 and 6).
Singapore emerged as the fourth largest trading partner of the country for the first semester of 2011 with a total trade amounting to $5.305 billion or a share of 9.6 percent to total trade. Registered export receipts were valued at $2.588 billion while import bill reached $2.717 billion, resulting to a trade deficit of $128.28 million (Table 4). Electronic Products and Petroleum Products were the country’s major exports to Singapore with earnings of $1.921 billion or 74.2 percent share and $281.74 million or 10.9 percent of the total exports, respectively. Similarly, Electronic Products with import bill of $1.206 billion or 44.4 percent share, and Mineral Fuels, Lubricants and Related Materials worth $711.91 million or 26.2 percent share were the major imports from Singapore (Tables 5 and 6).
EUROPEAN UNION CORNERS 9.7 PERCENT OF RP’s TOTAL TRADE
Total external trade in goods with the European Union (EU) for the first semester of 2011 grossed $5.371 billion or 9.7 percent of the country’s total trade. Exports to EU reached $3.035 billion or 12.3 percent of the total export receipts, while imports were valued at $2.337 billion or a 7.7 percent share to total imports, resulting to a balance of trade in goods (BOT-G) surplus of $697.96 million. Among the EU member-countries, Germany was RP’s top trading partner with a total trade of $1.634 billion or 30.4 percent of EU’s total trade. Receipts from exports to Germany totaled to $919.49 million while payment for imports was valued at $714.99 million or a trade surplus of $204.50 million (Table 7).
Leading exports for the EU member-countries for the first semester in 2011 were Electronic Products, $1.710 billion; Coconut Oil, $370.85 million; Articles of Apparel and Clothing Accessories, $115.18 million; Tuna, $70.92 million; and Seaweeds and Carrageenan, $43.31 million (Table 8).
Top imports from the EU member-countries for the first semester in 2011 were Electronic Products, $988.81 million; Industrial Machinery and Equipment, $233.83 million; Medicinal and Pharmaceutical Products, $211.24 million; Transport Equipment, $94.12 million; and Paper and Paper Products, $68.48 million (Table 9).
ASEAN TOTAL TRADE STANDS AT $12.344 BILLION
Total external trade in goods with ASEAN member-countries for the first semester of 2011 amounted to $12.344 billion or 22.3 percent of the country’s entire trade. Exports to ASEAN member-countries were valued at $4.793 billion while imports were worth $7.551 billion, generating a trade deficit of $2.758 billion. Singapore emerged as the country’s top trading partner among the ASEAN member-countries with a total trade accounting for $5.305 billion or 43.0 percent share of the ASEAN total trade. Exports to Singapore registered a total of $2.588 billion while imports payment was $2.717 billion, which resulted to a trade deficit of $128.28 million (Table 7).
Leading exports for the ASEAN member-countries for the first semester in 2011 were Electronic Products, $2.532 billion; Petroleum Products, $298.82 million; Cathodes and Sections of Cathodes of Refined Copper, $298.71 million; Metal Components, $151.27 million; and Fertilizers Manufactured, $81.47 million (Table 8).
Top imports from the ASEAN member-countries for the first semester in 2011 were Electronic Products, $2.319 billion; Mineral Fuels, Lubricants and Related Materials, $1.356 billion; Transport Equipment, $670.53 million; Plastics in Primary and Non-Primary Forms, $322.12 million; and Cereals and Cereal Preparations, $257.50 million (Table 9).
APEC TOTAL TRADE TO RP REACHES $44.965 BILLION
Total external trade with APEC member-countries for the first semester of 2011 amounted to $44.965 billion or 81.4 percent of the country’s entire trade. Export receipts totaled to $20.551 billion or 83.0 percent of the total exports while import payments summed up to $24.414 billion or 80.0 percent share of the total imports. Topping the list were Japan, $7.285 billion or 13.2 percent share; USA, $7.121 or 12.9 percent share; People’s Republic of China, $5.751 billion or 10.4 percent share; and Singapore, $5.305 billion or 9.6 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 2011 with receipts valued at $10.633 billion or 51.7 percent share of the total APEC exports. Other top exports were Woodcrafts and Furniture, $818.85 million; Articles of Apparel and Clothing Accessories, $750.84 million; Cathodes and Section of Cathodes of Refined Copper, $634.84 million; and Ignition Wiring Sets, $470.32 million (Table 11).
Topping the list of imported goods
from APEC countries were Electronic Products, $8.842
billion; Mineral Fuels, Lubricants and Related
Materials, $3.451 billion; Transport Equipment,
$1.278 billion; Industrial Machinery and
Equipment, $1.153 billion; and Organic and Inorganic Chemical, $729.05 million (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 2010 series, import statistics are adjusted based on the transactions that pass through the Electronic to Mobile ( E2M ) System.
Source: National Statistics Office
Manila,
Philippines
Page last revised: December 7, 2011