FOREIGN TRADE STATISTICS OF THE PHILIPPINES: 2010

2010 TOTAL TRADE STOOD AT $106.430 BILLION

Total external trade in goods for 2010 reached $106.430 billion, an increase of 30.5 percent from $81.527 billion in 2009. Total export receipts rose by 34.0 percent to $51.498 billion from $38.436 billion in 2009. Likewise, total imports also grew by 27.5 percent to aggregate dollar expenditure of $54.933 billion from $43.092 billion in 2009. The balance of trade in goods (BOT-G) for the Philippines registered a $3.435 billion deficit in 2010, down by 26.2 percent from the previous year’s deficit of $4.656 billion.

2010 TOP 10 EXPORTS ACCOUNTED FOR 76.5 PERCENT

Accounting for 76.5 percent of the aggregate export revenue in 2010, receipts from the top ten exports totaled to $39.398 billion, posting a 38.4 percent growth from $28.470 billion in 2009. (see Table 2)

Articles of Apparel and Clothing Accessories followed with a share of 3.3 percent and an aggregate receipt of $1.701 billion or 11.6 percent higher than the $1.525 billion in 2009.

Coconut Oil ranked third with a share of 2.5 percent, posting the highest growth among the top ten exports at 112.9 percent to $1.266 billion from $594.51 million in 2009.

Woodcrafts and Furniture, contributing 2.3 percent of the total export receipts, was RP’s fourth top export in 2010 with sales amounting to $1.181 billion, reflecting an increase of 23.2 percent from $958.77 million in 2009.

Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, accounting for 2.2 percent share ranked fifth with export receipts of $1.107 billion or were up by 47.2 percent from $752.05 billion in 2009.

Rounding up the list of top ten exports for 2010 were Cathodes and Sections of Cathodes of Refined Copper, valued at $804.87 million and increased by 17.0 percent;  Other Products Manufactured from Materials Imported on Consignment Basis, worth $776.83 million, up by 16.3 percent; Metal Components amounting to $775.01 million or augmented by 61.0 percent; Petroleum Products with proceeds billed at $371.16 million, higher by 26.7 percent; and Tuna, worth $335.08 million or an increase  of 2.5 percent in 2009.

2010 TOP 10 IMPORTS ACCOUNTED FOR 77.1 PERCENT OF IMPORT BILL

Aggregate payment for the country’s top ten imports for 2010 reached $42.377 billion or 77.1 percent of the total import bill, registering a 29.0 percent increase from $32.848 billion in 2009. (see Table 3)

Mineral Fuels, Lubricants and Related Materials ranked second with a 17.5 percent share and posted a growth of 30.3 percent to $9.589 billion from $7.361 billion.

Transport Equipment ranked third, comprising 6.3 percent of the total imports and grew by 53.8 percent to $3.475 billion from $2.260 billion in 2009. Among the top ten imports, this was the highest registered growth in 2010.

Industrial Machinery and Equipment, ranking fourth, recorded a share of 4.6 percent or $2.511 billion worth of imports, up by 43.0 percent from $1.756 billion a year ago.

Cereals and Cereal Preparations ranked fifth with a 4.0 percent share of the total imports, worth $2.225 billion, higher by 17.9 percent from $1.887 billion in 2009.

Organic and Inorganic Chemical, accounting for 2.5 percent of total imports, ranked sixth as foreign bill amounted to $1.377 billion or up by 21.8 percent from $1.131 billion in 2009.

Rounding up the list of top ten imports for 2010 were Metalliferous Ores and Metal Scrap $1.239 billion; Iron and Steel, $1.227 billion; Plastics in Primary and Non-Primary Forms, $1.178 billion; and Telecommunication Equipment and Electrical Machinery, $1.007 billion.

JAPAN ACCOUNTS FOR 13.7 PERCENT OF RP’s TOTAL TRADE

Japan including Okinawa continued to be the country’s top trading partner in 2010, cornering 13.7 percent of the country’s total trade. Exports to Japan totaled to $7.841 billion while imports were valued at $6.744 billion, posting a trade surplus of $1.097 billion (see Table 4). Electronic Products contributed the biggest share at $3.570 billion or 45.5 percent of the total exports to the country, followed by Articles of Apparel and Clothing Accessories at $1.008 billion or 12.9 percent share of the total exports.  Majority of the imported products from Japan were Electronic Products billed at $3.000 billion or 44.5 percent of the total imports and Transport Equipment at $730.49 million or a 10.8 percent share of the total imports. (see Tables 5 and 6)

United States of America (USA) including Alaska and Hawaii followed the country’s second largest trading partner in 2010 with a total trade worth $13.446 billion or 12.6 percent of the total trade. Export receipts stood at $7.559 billion while payments for imports were valued at $5.887 billion, resulting to a $1.672 billion trade surplus. The biggest receipt came from Electronic Products at $3.478 billion or 46.0 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $1.148 billion or 15.2 percent of the total exports to the country. Imported goods purchased from USA consisted of Electronic Products worth $3.436 billion or 58.4 percent of the total imports from the country. Cereals and Cereal Preparations was next at $287.03 million or a share of 4.9 percent of the total imports.  (see Tables 5 and 6)

Singapore came thirdaccounting for a total trade of $12.506 billion or 11.8 percent of the total trade in 2010. Receipts from exports to this country were valued at $7.319 billion while payment for imports totaled to $5.187 billion, reflecting a trade surplus of $2.132 billion. The bulk of exports came from Electronic Products worth $6.691 billion or 91.4 percent of the total exports to the country and Petroleum Products at $207.25 million or 2.8 percent share. Electronic Products and Mineral Fuels, Lubricants and Related Materials were the major imports from Singapore with purchases worth $2.064 billion or 39.8 percent of the total and $1.734 billion or 33.4 percent of the total, respectively. (see Tables 5 and 6)

People’s Republic of China emerged as the fourth largest trading partner of the country with a total trade amounting to $10.352 billion or a share of 9.7 percent to total trade. Registered export receipts were valued at $5.724 billion while import bill reached $4.628 billion, resulting to a trade deficit of $1.097 billion. Electronic Products and Cathodes and Sections of Cathodes of Refined Copper were the country’s major exports to People’s Republic of China with earnings of $4.156 billion or 72.6 percent share and $226.27 million or 4.0 percent of the total exports, respectively. Similarly, Electronic Products with import bill of $1.487 billion or 32.1 percent share, and Iron and Steel worth $289.07 million or 6.2 percent of the total imports were the major imports from People’s Republic of China. (see Tables 5 and 6)

EUROPEAN UNION CORNERED 10.7 PERCENT OF RP’s TOTAL TRADE

Total external trade in goods with the European Union (EU) grossed $11.373 billion or 10.7 percent of the country’s total trade. Exports to EU reached $7.402 billion or 14.4 percent of the total export receipts, while imports were valued at $3.971 billion or a share of 7.2 percent, resulting to a balance of trade in goods (BOT-G) surplus of $3.431 billion. Among the EU member-countries, Germany was RP’s top trading partner with a total trade of $3.769 billion or 33.1 percent of EU’s total trade. Receipts from exports to Germany totaled to $2.657 billion while payment for imports was $1.112 billion or a trade surplus of $1.545 billion (see Table 7)

Major exports to EU member-countries in 2010 were Electronic Products, $4.680 billion; Coconut Oil, $614.28 million; Other Products Manufactured from Materials Imported on Consignment Basis, $264.18 million; Articles of Apparel and Clothing Accessories, $226.63 million; and Tuna, $164.70 million. (see Table 8)

Top five imported goods from EU member-countries were Electronic Products, $1.385 billion; Transport Equipment, $414.16 million; Medicinal and Pharmaceutical Products, $331.29 million; Industrial Machinery and Equipment, $315.87 million; and Paper and Paper Products, $100.06 million.  (see Table 9)

ASEAN TOTAL TRADE STOOD AT $27.038 BILLION

Total external trade in goods with ASEAN member-countries for 2010 amounted to $27.038 billion or 25.4 percent of the country’s entire trade. Exports to ASEAN member-countries were valued at $11.545 billion while imports were worth $15.492 billion, generating a trade deficit of $3.947 billion. Singapore emerged as the country’s top trading partner among the ASEAN member-countries with a total trade accounting for $12.506 billion or 46.3 percent share of the ASEAN total trade. Exports to Singapore registered earnings of $7.319 billion while imports payment was $5.187 billion, which resulted to a $2.131 billion trade surplus. (see Table 7)

Leading exports to ASEAN member-countries were Electronic Products, $8.088 billion; Cathodes and Sections of Cathodes of Refined Copper, $472.22 million; Metal Components, $328.63 million; Petroleum Products, $234.21 million; and Fertilizers Manufactured, $93.13 million. (see Table 8)

Top imports from the ASEAN member-countries were Electronic Products, $3.841 billion; Mineral Fuels, Lubricants and Related Materials, $3.482 billion; Transport Equipment, $1.611 billion; Cereals and Cereal Preparations, $1.476 billion; and Plastics in Primary and Non-Primary Forms, $528.98 million. (see Table 9)

APEC TOTAL TRADE TO RP REACHED $86.448 BILLION

Total external trade with APEC member-countries for 2010 amounted to $86.448 billion or 81.2 percent of the entire trade. Export receipts totaled to $42.057 billion or 81.7 percent of the total exports while import payments summed up to $44.390 billion or a 80.8 percent share of the total imports, resulting to a trade deficit of $2.333 billion. Topping the list were Japan, $14.586 billion or 13.7 percent share; USA, $13.446 or 12.6 percent share; Singapore, $12.506 billion or 11.8 percent share; and People’s Republic of China, $10.352 billion or 9.7 percent share of the APEC total trade. (see Table 10)

Electronic Products were still the major export to APEC member-countries with receipts valued at $25.897 billion or 61.6 percent share of the total APEC exports. The other top exports were Articles of Apparel and Clothing Accessories, $1.338 billion; Woodcrafts and Furniture, $1.136 billion; Ignition Wiring Sets, $1.099 billion; and Cathodes and Section of Cathodes of Refined Copper, $798.26 million.  (see Table 11)

Topping the list of imported goods from APEC countries were Electronic Products, $16.852 billion; Mineral Fuels, Lubricants and Related Materials, $5.283 billion; Transport Equipment, $2.965 billion; Industrial Machinery and Equipment, $2.124 billion; and Cereals and Cereal Preparations, $1.941 billion. (see Table 12)

TECHNICAL NOTES

1. The figures reported in this 2010 Annual Special Release are final and higher than the sum of the reported figures on the monthly press releases, as it includes data from the documents that arrived late for inclusion in their respective months.

2. The commodity groupings included here are in accordance with the 2004 Philippine Standard Commodity Classification (PSCC), an integration of the ASEAN Harmonized Commodity description and Coding System (HS) issued by the World Customs Organization (WCO) and the 1993 PSCC (as amended in 1999) based on the Standard International Trade Commodity (SITC) Rev. 3 issued by the United Nations Statistical Office in 1986.  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.

3. All transactions that pass through the Automated Export Documentation System (AEDS) are included in the compilation of export statistics.

4. Adjustments on import statistics are based on the transactions that pass through the Electronic to mobile (e2m) of the Bureau of Customs (BOC).

Source:   National Statistics Office
                Manila, Philippines
 
Page last revised:   July 1, 2011