FOREIGN TRADE

In the 2012, the total external trade in goods was $114.228 billion and a deficit
of $10.029 billion which pertains to the country’s balance of trade in goods. For year
2013, the said deficit went down to $5.713 billion due to the 4.3 percent increase of
the total external trade in goods that reached $119.108 billion. The growth of the
total external trade was due to the increase of both inward and outward trading
goods. Total imports went up by 0.5 percent to $62.411 billion in 2013 from $62.129
billion in 2012. Likewise, total export receipts accelerated by 8.8 percent to $56.698
billion in 2013 from $52.100 billion in 2012.

TOP EXPORTS ACCOUNTED FOR 80.0

Total Export Receipt
PERCENT OF TOTAL EXPORT RECEIPTS

1.Electronic Products - The top earner for 2013

$23.931 billion
with 42.2 percent of the total exports.

2.Other Manufactures - contributing a 9.7 percent $5.491 billion

3.Woodcraft and Furniture - with a share of 5.9
$3.337 billion
percent

4.Chemicals - ranked 4th with a 4.6 percent $2.619 billion

5.Machinery and Transport Equipment - 3.7
$2.088 billion
percent

TOP IMPORTS ACCOUNTED FOR 75.0

Total Import Bill
PERCENT OF IMPORT BILL
1.Electronic Products - accounting for 24.9 percent
$15.511 billion
2.Mineral Fuels, Lubricants and Related Materials -
ranked second with 21.1 percent share $13.140 billion

3.Transport Equipment - ranked third, comprising

10.0 percent of the total imports $6.223 billion

4.Industrial Machinery and Equipment - ranked $3.194 billion

fourth, recorded a 5.1 percent share

5.Other Food and Live Animals - ranked fifth with

2.9 percent share of the total imports $1.812 billion

Above figure presents the Major Trading Partners of the Philippines in 2013

EXPORTS TO
1.Japan - 21.3%
2.United Sates of America - 14.7%
3.China - 12.4%
4.Hong Kong - 8.0%
5.Singapore - 7.3%

IMPORTS FROM
1.China - 12.9%
2.United Sates of America - 11.2%
3.Japan - 8.4%
4.Taiwan - 7.8%
5.South Korea - 7.7%