Top 10 Philippine Exports to All Trading Partners, July 2020

Top 10 Philippine Imports from All Trading Partners, July 2020

PSA data showed export earnings from January to July 2020 amounted to $34.13 billion, lower by 16.4 percent
than the export value earned from January to July 2019.

Of the top 10 major commodity groups in terms of exported value, eight had annual declines, led by gold,
which contracted 41.6 percent.

This was followed by ignition wiring set and other wiring sets used in vehicles, aircraft and ships with a
contraction of 35.9 percent, and machinery and transport equipment, which declined 30.9 percent.

According to PSA, the export earnings in July 2020 marked the fifth month in a row in which the value of
exports contracted but the annual drop continued to weaken as it posted its third consecutive month of slower
decline during the period.

Meanwhile, the country’s imports worsened in July 2020. PSA data showed imports contracted 24.4 percent,
even lower than the 23.1 percent posted in June 2020.

Total import receipts amounted to $7.48 billion in July. The PSA said this is the 15th straight month of import
contraction.

With this, the cumulative import value from January to July 2020 amounted to $46.64 billion, representing a
decline of 28.1 percent compared with the import value posted in the same period of 2019.

The annual decrement of imported goods in July 2020 was due to contractions in the top 10 major import
commodities led by transport equipment at 69.2 percent.

This was followed by cereals and cereal preparations, which declined 37.8 percent; and mineral fuels,
lubricants and related materials, which contracted 36.2 percent.