FOREIGN TRADE STATISTICS OF THE PHILIPPINES: 2011

TOTAL TRADE STANDS AT $108.801 BILLION

Total external trade in goods for 2011 reached $108.801 billion, representing a 2.2 percent increase from $106.430 billion in 2010. This was due to the 10.1 percent positive growth of the total imports to $60.496 billion from $54.933 billion in 2010. Meanwhile, total export receipts went down by 6.2 percent from $51.408 billion to $48.305 billion in 2011. The balance of trade in goods (BOT-G) for the Philippines registered a $12.191 billion deficit in 2011 from $3.435 billion deficit compared to last year (Table 1).

TOP 10 EXPORTS ACCOUNT FOR SEVENTY   PERCENT OF EXPORT RECEIPTS

Accounting for 70.0 percent of the aggregate export revenue in 2011, receipts from the top ten exports totaled to $33.741 billion, posting a 14.3 percent negative growth from $39.382 billion in 2010 (Table 2).

Electronic Products continued to be the top earner for 2011 with 49.3 percent of the total exports or a decline of 23.4 percent from $31.080 billion to $23.795 billion in 2011.

Articles of Apparel and Clothing Accessories followed with a share of 3.9 percent and an aggregate receipt of $1.896 billion or 11.4 percent higher than the 2010 value of $1.701 billion.

Woodcrafts and Furniture ranked third with a share of 3.8 percent, posting an increase of 56.5 percent to $1.848 billion from $1.181 billion in 2010.

Coconut oil including crude and refined, with share of 3.0 percent, ranked fourth with export receipts of $1.425 billion or 12.6 percent higher from the 2010 value of $1.266 billion.

Cathodes & Sections of Cathodes, of Refined Copper contributing 2.5 percent of the total export receipts, was the PH’s fifth top export in 2011 with sales amounting to $1.212 billion, reflecting an increase of 50.5 percent from $804.87 million in 2010.

Rounding up the list of top ten exports for 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 $1.110 billion, slightly up by 0.2 percent; Metal Components, worth $785.06 million, grew by 1.3 percent; Petroleum Products, $647.75 million, rose by 74.5 percent and registered the highest growth among the top ten exports; Other Products Manufactured from Materials Imported on Consignment Basis, worth $550.07 million or a decrease of 29.2 percent; and Bananas (Fresh) with proceeds billed at $472.38 million, gained by 47.9 percent from $319.30 million in 2010.

TOP 10 IMPORTS ACCOUNT 74.2 PERCENT OF IMPORT BILL

Aggregate payment for the country’s top ten imports for 2011 reached $44.877 billion or 74.2 percent of the total import bill, registering a positive growth of 7.1 percent from $41.921 billion in 2010 (Table 3).

Electronic Products, accounting for 29.5 percent of the total import bill posted a decrease of 3.9 percent from $18.550 billion in 2010 to $17.829 billion in 2011.

Mineral Fuels, Lubricants and Related Materials ranked second with 20.7 percent share, up by 30.9 percent to $12.552 billion from $9.589 billion.

Transport Equipment ranked third, comprising 5.4 percent of the total imports, fell by 5.5 percent from $3.475 billion in 2010 to $3.285 billion in 2011.

Industrial Machinery and Equipment ranking fourth, recorded a 4.9 percent share and posted an increase of 17.8 percent to $2.957 billion worth of imports from $2.511 billion recorded value in 2010.

Organic and Inorganic Chemical ranked fifth with 2.8 percent share of the total imports, worth $1.680 billion, higher by 22.0 percent from $1.377 billion in 2010.

Rounding up the list for the top ten imports for 2011 were Plastics in Primary and Non-Primary Forms, $1.624 billion, up by 37.9 percent (highest year on year change among the top ten imports in 2011); Cereals and Cereal Preparations, $1.482 billion, decreased by 33.4 percent; Iron and Steel, $1.349 billion, grew by 9.9 percent; Telecommunication Equipment and Electrical Machinery, $1.205 billion, up by 19.6 percent; and Medicinal and Pharmaceutical Products, $912.43 million or an annual increase of 16.6 percent.

JAPAN ACCOUNTS FOR 14.2 PERCENT OF PH’s TOTAL TRADE

The country’s top ten trading partners for 2011 posted a total trade value of $81.007 billion or 74.5 percent of the total trade. This comprised a total export receipt of $37.503 billion or 77.6 percent of the total exports and total import bill of $43.504 billion or 71.9 percent of the total imports.

Japan was the country’s top trading partner in 2011, accounting for a total trade worth $15.403 billion or 14.2 percent of the country’s total trade. Exports to Japan totaled $8.886 billion while imports were valued at $6.516 billion, posting a trade surplus of $2.370 billion (Table 4).  Electronic Products got a large share of 38.6 percent of the total exports valued at $3.434 billion, followed by Woodcrafts and Furniture at $1.663 billion or 18.7 percent share of the total exports of Japan (Table 5).  On the other hand, majority of the imported products from Japan were Electronic Products billed at $2.429 billion or 37.3 percent of the total imports and Industrial Machinery and Equipment with $856.77 million or 13.1 percent share of the total imports of Japan (Table 6).

USAfollowed as the country’s second largest trading partner in 2011 with total trade worth $13.638 billion or 12.5 percent of the total trade. Export receipts from USA stood at $7.102 billion while payments for imports were valued at $6.536 billion, resulting to $565.64 million trade surplus (Table 4). The biggest receipt came from Electronic Products at $2.557 billion or 36.0 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $1.244 billion or 17.5 percent of the total exports to the country (Table 5). Imported goods purchased from USA consisted of Electronic Products worth $3.582 billion or 54.8 percent of the country’s total imports. Cereals and Cereal Preparations second highest imports from USA with $571.47 million or a share of 8.7 percent (Table 6).

People’s Republic of China ranked third accounting for $12.322 billion or 11.3 percent of the total trade in 2011. Receipts from exports to China were valued at $6.237 billion while payment for imports totaled to $6.085 billion, reflecting a trade surplus of $152.25 million (Table 4).  The bulk of exports came from Electronic Products worth $4.214 billion or 67.6 percent of the total exports to the country and from Cathodes and Sections of Cathodes of Refined Copper with $356.04 million or 5.7 percent share (Table 5). Major imports from China were Electronic Products with purchases worth $1.378 billion or 22.6 percent of the total; Mineral Fuels, Lubricants and Related Materials valued at $496.41 million or 8.2 percent of the total (Table 6).

Singapore emerged as the fourth largest trading partner of the country for 2011 with a total trade amounting to $9.178 billion or a share of 8.4 percent to total trade. Registered export receipts were valued at $4.279 billion while import bill reached $4.899 billion, resulting to a trade deficit of $620.89 million (Table 4).  Electronic Products and Petroleum Products were the country’s major exports to Singapore with earnings of $3.201 billion or 74.8 percent share and $421.85 million or 9.9 percent of the total exports, respectively (Table 5). Similarly, Electronic Products with import bill of $2.058 billion or 42.0 percent share, and Mineral Fuels, Lubricants and Related Materials worth $1.257 million or 25.7 percent share were the major imports from Singapore (Table 6).

EUROPEAN UNION CORNERS 9.6 PERCENT OF PH’s TOTAL TRADE

Total external trade in goods with the European Union (EU) for 2011 grossed $10.399 billion or 9.6 percent of the country’s total trade. Exports to EU reached $5.950 billion or 12.3 percent of the total export receipts, while imports were valued at $4.450 billion or a 7.4 percent share to total imports, resulting to a balance of trade in goods (BOT-G) surplus of $1.500 billion. Among the EU member-countries, Germany was PH’s top trading partner with a total trade of $3.149 billion or 30.3 percent of EU’s total trade. Receipts from exports to Germany totaled to $1.730 billion while payment for imports was valued at $1.419 billion or a trade surplus of $310.38 million (Table 7).

Leading exports for the EU member-countries in 2011 were Electronic Products, $3.273 billion; Coconut Oil (crude and refined), $629.20 million; Articles of Apparel and Clothing Accessories, $235.06 million; Tuna (fresh, frozen, prepared or preserved in airtight containers), $123.78  million; and Other Products Manufactured from Materials Imported on Consignment Basis, $88.60 million (Table 8).

Top five imports from the EU member-countries were Electronic Products, $1.642 billion; Industrial Machinery and Equipment, $431.83 million; Transport Equipment, $390.81 million; Medicinal and Pharmaceutical Products, $376.03 million; and Paper and Paper Products, $126.58 million (Table 9).

ASEAN TOTAL TRADE STANDS AT $23.031 BILLION

Total external trade in goods with ASEAN member-countries for 2011 amounted to $23.031 billion or 21.2 percent of the country’s entire trade. Exports to ASEAN member-countries were valued at $8.694 billion while imports were worth $14.337 billion, generating a trade deficit of $5.643 billion. Singapore emerged as the country’s top trading partner among the ASEAN member-countries with a total trade accounting for $9.178 billion or 39.9 percent share of the ASEAN total trade. Exports to Singapore registered a total of $4.279 billion while imports payment was $4.899 billion, which resulted to a trade deficit of $620.89 million (Table 7).

Leading exports for the ASEAN member-countries in 2011 were Electronic Products, $4.386 billion; Cathodes and Sections of Cathodes of Refined Copper, $533.27 million; Petroleum Products, $490.66 million; Metal Components, $312.63 million; and Fertilizers Manufactured, $197.12 million (Table 8).

Top five imports from the ASEAN member-countries were Electronic Products, $3.959 billion; Mineral Fuels, Lubricants and Related Materials, $2.588 billion; Transport Equipment, $1.391 billion; Plastics in Primary and Non-Primary Forms, $618.50 million; and Industrial Machinery and Equipment, $481.45 million (Table 9).

TOTAL TRADE WITH APEC REACHES $87.707 BILLION

Total external trade with APEC member-countries for 2011 amounted to $87.707 billion or 80.6 percent of the country’s entire trade. Export receipts totaled to $40.125 billion or 83.1 percent of the total exports while import payments summed up to $47.583 billion or 78.7 percent share of the total imports resulting to a trade deficit of $7.458 billion. Topping the list were Japan, $15.403 billion or 14.2 percent share; USA, $13.638 or 12.5 percent share; People’s Republic of China, $12.322 billion or 11.3 percent share; and Singapore, $9.178 billion or 8.4 percent share of the APEC total trade (Table 10).

Electronic Products were still the major export to APEC member-countries for 2011 with receipts valued at $20.000 billion or 49.8 percent share of the total APEC exports. Other top exports were Woodcrafts and Furniture, $1.789 billion; Articles of Apparel and Clothing Accessories, $1.554 billion; Cathodes and Section of Cathodes of Refined Copper, $1.212 billion; and Ignition Wiring Sets, $1.100 billion  (Table 11).

Topping the list of imported goods from APEC countries were Electronic Products,  $16.000 billion; Mineral Fuels, Lubricants and Related Materials, $6.792 billion; Transport Equipment, $2.756 billion; Industrial Machinery and Equipment, $2.436 billion; and Plastics in Primary and Non-Primary Forms, $1.444 billion (Table 12).

TECHNICAL NOTES

Source:   National Statistics Office
              Manila, Philippines
 
Page last revised:   July 9, 2012