Princess Lovely J.

Buyagawan

Export and import of the Philippines

2014

TOTAL EXTERNAL TRADE SUMMED UP TO $127.500 BILLION IN 2014

The country’s total external trade in goods in 2014 reached $127.500 billion, expanding by 7.0 percent from $119.108
billion in 2013. The positive growth of the external trade was due to the increase of both inward and outward trading
of goods.  Total imports went up by 4.8 percent to $65.398 billion in 2014 from $62.411 billion in 2013.  Likewise, total
export receipts accelerated by 9.5 percent from $56.698 billion in 2013 to $62.102 billion in 2014.  The country’s
balance of trade in goods (BOT-G) registered a $3.296 billion deficit in 2014 from $5.713 billion deficit in 2013 (Table
1).

TOP 10 EXPORTS ACCOUNTED FOR 82.0 PERCENT OF TOTAL EXPORT RECEIPTS

Export sales from the top ten exported commodities totaled to $50.913 billion, accounting for 82.0 percent of the total
export revenue in 2014.  This registered an increase of 12.3 percent from $45.334 billion in 2013 (Table 2).

Electronic Products continued to be the top earner and major exported commodity for 2014 with 43.1 percent of the
total exports and which accelerated by 11.9 percent from $23.931 billion in 2013 to $26.790 billion.

Other Manufactures placed second with a share of 8.2 percent and a total receipt of $5.079 billion.  It declined by
7.5 percent from the 2013 value of $5.491 billion.

Machinery and Transport Equipment contributing 6.4 percent of the total export receipts, was the third top export in
2014 with revenue amounting to $3.978 billion, posting the highest increase of 90.5 percent among the top ten
exports.

Woodcrafts and Furniture, which ranked fourth with a share of 5.4 percent, declined by 0.1 percent from $3.337
billion to $3.334 billion in 2014.

Other Mineral Products with share of 4.3 percent, ranked fifth with export receipts of $2.645 billion.  It increased by
41.8 percent from the 2013 value of $1.865 billion.
 Rounding up the list of top ten exports for 2014 were: Chemicals with an export value of $2.603 billion, decreased by
0.6 percent from $2.620 billion in 2013; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts
and Ships with proceeds billed at $2.050 billion, gained by 18.4 percent from $1.731 billion in 2013; Articles of
Apparel, worth $1.854 billion, expanded by 17.3 percent; Metal Components with $1.377 billion export receipts,
decreased by 18.3 percent; and Coconut Oil, worth $1.203 billion, rose by 19.6 percent from $1.006 billion export
receipts in 2013.

TOP 10 IMPORTS ACCOUNTED FOR 74.8 PERCENT OF IMPORT BILL

Total payment for the country’s top ten imports for 2014 reached $48.888 billion or 74.8 percent of the total import
payment, registering a positive growth of 4.6 percent from $46.738 billion in 2013  (Table 3).

Electronic Products, remained as the top imported commodities for 2014, accounting for 23.4 percent of the total
import bill.  It posted a decrease of 1.4 percent from $15.511 billion in 2013 to $15.297 billion in 2014.

Mineral Fuels, Lubricants and Related Materials ranked second with 20.2 percent share and increased by 0.4
percent to $13.189 billion in 2014 from $13.140 billion in 2013.

Transport Equipment which ranked third, comprised 9.5 percent of the total imports, and increased by 0.2 percent
from $6.223 billion in 2013 to $6.238 billion in 2014.

Industrial Machinery and Equipment, ranked fourth, recorded a 5.0 percent share and grew by 1.5 percent to
$3.243 billion worth of imports from $3.194 billion recorded value in 2013.

Other Food and Live Animals ranked fifth with 3.4 percent share of the total imports worth $2.237 billion, higher by
23.5 percent from $1.812 billion in 2013.

Rounding up the list for the top ten imports for 2014 were: Plastics in Primary and Non-Primary Forms, $2.076
billion, registering the highest increase among the top ten imports by 38.8 percent; Iron and Steel, $1.809 billion,
increased by 24.0 percent; Miscellaneous Manufactured Articles, $1.709 billion, expanded by 25.7
percent; Cereals and Cereal Preparations, $1.702 billion, went up by 33.3 percent; and Telecommunication
Equipment, $1.388 billion or an increase of 9.5 percent.

 
2015

TOTAL EXTERNAL TRADE SUMMED UP TO $129.894 BILLION IN 2015

The country’s total external trade in goods in 2015 reached $129.894 billion, expanding by 1.9 percent from $127.500
billion in 2014. The positive growth of the external trade was due to the increase of inward trading of goods.  Total
imports went up by 8.7 percent to $71.067 billion in 2015 from $65.398 billion in 2014.  However, total export receipts
decreased by 5.3 percent from $62.102 billion in 2014 to $58.827 billion in 2015.  However, the country’s balance of
trade in goods (BOT-G) registered a $12.240 billion deficit in 2015 higher than the $3.297 billion deficit in 2014 (Table
1).
  

TOP 10 EXPORTS ACCOUNTED FOR 83.5 PERCENT OF TOTAL EXPORT RECEIPTS

Export sales from the top ten exported commodities totaled to $49.110 billion, accounting for 83.5 percent of the total
export revenue in 2015.  This registered a decrease of 3.5 percent from $50.913 billion in 2014 (Table 2).

Electronic Products continued to be the top earner and major exported commodity for 2015 with 49.1 percent of the
total exports and which accelerated by 7.9 percent from $26.790 billion in 2014 to $28.904 billion.

Other Manufactured Goods placed second with a share of 6.8 percent and a total receipt of $3.993 billion.  It
declined by 21.4 percent from the 2014 value of $5.079 billion.

Machinery and Transport Equipment contributing 6.7 percent of the total export receipts, was the third top export in
2015 with revenue amounting to $3.944 billion.  This recorded a minimal decrease of 0.8 percent from the 2014 value
of $3.978 billion.

Woodcrafts and Furniture, which ranked fourth with a share of 5.3 percent, declined by 6.2 percent from $3.334
billion to $3.128 billion in 2015.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships  with share of 3.6 percent,
ranked fifth with export receipts of $2.134 billion.  It increased by 4.1 percent from the 2014 value of $2.050 billion.

Rounding up the list of top ten exports for 2015 were: Chemicals with an export value of $1.782 billion, decreased by
31.6 percent from $2.603 billion in 2014; Articles of Apparel with proceeds billed at $1.459 billion, went down by
21.3 percent from $1.854 billion in 2014; Other Mineral Products, worth $1.397 billion, dropped by 47.2 percent
from $2.645 billion; Metal Components with $1.240 billion export receipts, decreased by 9.9 percent from $1.377
billion; and Coconut Oil, worth $1.129 billion, declined by 6.2 percent from $1.203 billion export receipts in 2014.

TOP 10 IMPORTS ACCOUNTED FOR 74.0 PERCENT OF IMPORT BILL

Total payment for the country’s top ten imports for 2015 reached $52.602 billion or 74.0 percent of the total import
payment, registering a positive growth of 7.6 percent from $48.888 billion in 2014  (Table 3).

Electronic Products remained as the top imported commodities for 2015, accounting for 28.9 percent of the total
import bill.  It posted an increase of 34.4 percent to $20.559 billion in 2015 from $15.297 billion in 2014.
Mineral Fuels, Lubricants and Related Materials ranked second with 13.0 percent share and decreased by 29.9
percent from $13.189 billion in 2014 to $9.249 billion in 2015.

Transport Equipment which ranked third, comprised 8.7 percent of the total imports, and fell by 1.3 percent from
$6.238 billion in 2014 to $6.159 billion in 2015.

Industrial Machinery and Equipment, ranked fourth, recorded a 5.8 percent share and grew by 27.8 percent to
$4.144 billion worth of imports from $3.243 billion recorded value in 2014.

Other Food and Live Animals ranked fifth with 3.8 percent share of the total imports worth $2.696 billion, higher by
20.5 percent from $2.237 billion in 2014.

Rounding up the list for the top ten imports for 2015 were: Iron and Steel, $2.659 billion, registering the highest
increase among the top ten imports by 47.0 percent; Cereals and Cereal Preparations, $2.110 billion, increased by
24.0 percent; Miscellaneous Manufactured Articles, $1.804 billion, expanded by 5.5 percent; Telecommunication
Equipment, $1.624 billion, went up by 17.0 percent; and Plastics in Primary and Non-Primary Forms, $1.598
billion or a decrease of 23.0 percent.

2016

TOTAL EXTERNAL TRADE REACHES $141.514 BILLION IN 2016

The country’s total external trade in goods in 2016 was recorded at $141.514 billion, expanding by 8.9 percent from
$129.894 billion in 2015.  Total import receipts went up by 8.9 percent to $84.108 billion in 2016 from $71.067 billion
in 2015.  However, total export receipts decreased by 2.4 percent from $58.827 billion in 2015 to $57.406 billion in
2016.  This translate to country’s balance of trade in goods (BoT-G) at negative $26.702 billion in 2016 higher than
the $12.240 billion deficit in 2015 (Table 1).

 
 
TOP 10 EXPORT COMMODITIES ACCOUNT FOR 82.7 PERCENT OF TOTAL EXPORT RECEIPT

Export sales from the top ten commodities totaled to $47.465 billion, accounting for 82.7 percent of the total export
revenue in 2016.  This registered a decrease of 3.3 percent from $49.096 billion in 2015 (Table 2).

Electronic Products continued to be the top export earner in 2016 with 51.2 percent share of the total export
revenue.  This increased by 1.8 percent to $29.418 billion in 2016 from $28.904 billion in 2015.

Other Manufactured Goods placed second with a share of 6.7 percent and a total receipt of $3.871 billion.  It
declined by 3.1 percent from the 2015 value of $3.993 billion.

Machinery and Transport Equipment contributing 5.4 percent of the total export receipt, was the third top export in
2016 with revenue amounting to $3.085 billion.  This recorded a decrease of 21.5 percent from the 2015 value of
$3.930 billion.

Woodcrafts and Furniture, which ranked fourth with a share of 5.2 percent, declined by 4.8 percent from $3.128
billion to $2.978 billion in 2016.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships  with share of 3.5 percent,
ranked fifth with export receipts amounting to $1.999 billion.  It went down by 6.3 percent from the 2015 value of
$2.134 billion.

Completing the list of top ten export commodities  for 2016 were: Chemicals with an export value of $1.603 billion,
decreased by 10.0 percent from $1.782 billion in 2015; Metal Components with proceeds billed at $1.209 billion, fell
by 2.5 percent from $1.240 billion in 2015; Coconut Oil, worth $1.152 billion, rose by 2.0 percent from $1.129
billion; Articles of Apparel and Clothing Accessories with $1.099 billion export receipts, decreased by 24.7
percent from $1.459 billion; and Other Mineral Products, worth $1.050 billion, declined by 24.9 percent from $1.397
billion export receipts in 2015.

 
 
TOP 10 IMPORT COMMODITIES ACCOUNT FOR 72.6 PERCENT OF IMPORT BILL

Total payment for the country’s top ten import commodities for 2016 reached $61.027 billion or 72.6 percent of the
total import payment, registering a positive growth of 16.0 percent from $52.602 billion in 2015 (Table 3).

Electronic Products remained as the top imported commodity for 2016, accounting for 26.5 percent of the total
import bill.  It posted an increase of 8.5 percent to $22.299 billion in 2016 from $20.559 billion in 2015.

Transport Equipment ranked second with 11.2 percent share and registering the highest increase among the top
ten import commodities by 53.5 percent to $9.454 billion in 2016 from $6.159 billion in 2015.

Mineral Fuels, Lubricants and Related Materials which ranked third, comprised 9.5 percent of the total.  It fell by
13.8 percent from $9.250 billion in 2015 to $7.969 billion in 2016.

Industrial Machinery and Equipment, ranked fourth, recorded a 7.2 percent share and expanding by 45.4 percent
to $6.026 billion worth of import commodities from $4.144 billion recorded value in 2015.

Iron and Steel ranked fifth with 3.9 percent share of the total, with value amounting to $3.321 billion, higher by 24.9
percent from $2.659 billion in 2015.

Rounding up the list for the top ten import commodities for 2016 were: Other Food and Live Animals, $3.188 billion,
grew by 18.3 percent; Miscellaneous Manufactured Articles, $2.584 billion, increased by 43.3
percent; Telecommunication Equipment and Electrical Machinery, $2.299 billion, expanded by 41.6
percent; Plastics in Primary and Non-Primary Forms, $2.240 billion, went up by 40.1 percent; and Cereals and
Cereal Preparations, $1.647 billion, decreased by 21.9 percent.

 
 
2017

TOTAL EXTERNAL TRADE AMOUNTS TO $164.81 BILLION IN 2017 The country’s total external trade in goods in 2017 reached
$164.81 billion, representing an increase of 16.5 percent from $141.51 billion in 2016. Total export receipts went up by 19.7
percent from $57.41 billion in 2016 to $68.71 billion in 2017. Similarly, total imports valued at $96.09 billion, increased by 14.2
percent in 2017 from $84.11 billion in 2016. This resulted to the country’s unfavorable balance of trade in goods (BoT-G) of
$27.38 billion in 2017, which was higher than the trade deficit of $26.70 billion in 2016
TOP 10 EXPORT COMMODITIES CONTRIBUTE 80.4 PERCENT OF TOTAL EXPORT RECEIPT Export sales from the top 10
commodities reached $55.26 billion, accounting for 80.4 percent of the total export revenue in 2017. This grew by 18.9 percent
from an export value of $46.49 billion in 2016 (Table 2). Electronic products continued as the top export earner in 2017 with a
share of 53.2 percent to the total export revenue. Its total export earnings of $36.54 billion in 2017 increased by 24.2 percent
from a value of $29.42 billion in 2016. Other manufactured goods, which ranked second, accounted for 6.1 percent or total
receipt of $4.16 billion. It went up by 7.4 percent from its previous year’s value of $3.87 billion. Machinery and transport
equipment placed third with revenue amounting to $3.75 billion in 2017, which represent a share of 5.5 percent to the total
export receipt. The export of this commodity rose by 21.5 percent from the export value of $3.09 billion in 2016. Ignition wiring
set and other wiring sets used in vehicles, aircrafts and ships ranked fourth with export receipts amounting to $2.05 billion or a
share of 3.0 percent. It increased by 2.6 percent over the value of almost $2.00 billion in 2016. Chemicals, placed fifth with an
export value of $1.65 billion, or a share of 2.4 percent of the total export receipts in 2017. The export revenue from the
commodity in 2017 reflects an increase of 2.6 percent from its value of $1.60 billion in 2016. Completing the list of top 10
export commodities for 2017 were: coconut oil with export receipts worth $1.61 billion; woodcrafts and furniture with $1.54
billion; metal components with proceeds amounting to $1.35 billion, increased by 11.7 percent; other mineral products worth
almost $1.35 billion; and cathodes and sections of cathodes, of refined copper with export receipts of $1.27 billion. Among the
top 10 exports, cathodes and sections of cathodes, of refined copper registered the highest growth rate in 2017.

TOP 10 IMPORT COMMODITIES COMPRISE 71.5 PERCENT OF IMPORT BILL Total payment for the country’s top 10 import
commodities for 2017 amounted to $68.71 billion or 71.5 percent of the total import payment. This represents an increase of
14.9 percent from the $59.82 billion total import in 2016. (Table 3) Inbound shipments of electronic products remained as the
top imported commodity in 2017, with import value reaching $24.37 billion or 25.4 percent of the total imports. It increased by
9.3 percent from $22.30 billion in 2016. Mineral fuels, lubricants and related materials placed second with import value
amounting to $10.80 billion in 2017. It registered a growth of 35.5 percent over the import value of $7.97 billion in 2016.
Transport equipment ranked third with $10.53 billion import payments or a share of 11.0 percent to total import in 2017. It
went up by 11.4 percent from an import value of $9.45 billion in 2016. Industrial machinery and equipment came fourth with
an import value of $6.028 billion or a share of 6.3 percent to the total imports in 2017. It slightly increased by 0.03 percent from
an import bill of $6.026 billion in 2016. Iron and steel ranked fifth with $4.22 billion or a share of 4.4 percent to total imports in
2017. This recorded an increase of 27.0 percent from $3.32 billion in 2016. Completing the list of the top 10 import
commodities for 2017 were: other food and live animals with $3.18 billion; miscellaneous manufactured articles with import
payments amounting to $2.82 billion; telecommunication equipment and electrical machinery with import bill totaled to $2.57
billion; plastics in primary and non-primary forms with $2.27 billion; and metalliferous ores and metal scrap with import value
at $1.93 billion.
2018

. TOTAL TRADE SUMS UP TO $16.43 BILLION

The country’s total external trade in goods in October 2018 reached $16.43 billion, reflecting an increase of 14.00
percent from $14.41 billion recorded value during the same month of the previous year. The total exports was valued
at $6.11 billion in October 2018, representing an increase of 3.3 percent, from $5.91 billion in October 2017.

On the other hand, total imports rose to $10.32 billion in October 2018, from $8.50 billion in October 2017 or a growth
rate of 21.4 percent.  Furthermore, the country’s balance of trade in goods (BoT-G) increased to a $4.21 billion deficit

in October 2018,
from $2.59 billion deficit in October 2017.  (Tables 1, 2 and 3)
2. EXPORTS INCREASE BY 3.3 PERCENT WHILE IMPORTS GROW BY 21.4 PERCENT
The country’s total export sales posted an increase of 3.3 percent, from $5.91 billion in October 2017 to $6.11 billion
in October 2018. This was due to the increases in export sales of the seven of the top 10 commodities,
namely, copper concentrates (167,014.3%); machinery and transport equipment (94.1%); banana
(fresh) (30.9%); other manufactured goods (24.3%); miscellaneous manufactured articles,
n.e.s. (23.8%), metal components (17.6%), and electronic products (0.6%). (Table 2)

On the other hand, total imported goods for the month of October 2018 amounted to $10.32 billion or a growth of 21.4
percent from the $8.50 billion posted in October 2017. The increase was due to the positive growth manifested by the
top 10 major import commodities. These were the following: cereals and cereal preparations (52.3%); mineral
fuels, lubricants and related materials (45.4%); other food and live animals (33.6%); telecommunication
equipment and electrical machinery (26.7%); miscellaneous manufactured articles (25.4%); plastics in
primary and non-primary forms (24.9%); industrial machinery and equipment (21.5%); transport
equipment  (18.4%); electronic products (14.8%); and iron and steel (7.8%). (Table 3) 

3. EXPORTS OF ELECTRONIC PRODUCTS GROW BY 0.6 PERCENT

Electronic Products continued to be the country’s top export with a total earnings of $3.25 billion, which accounted
for a share of 53.2 percent to the total exports revenue in October 2018. This export commodity grew by 0.6 percent,
from $3.23 billion export receipts in the same month of the previous year. Components/Devices
(Semiconductors) comprised the biggest share of 38.9 percent among electronic products.  It posted a decrease of
2.3 percent, from $2.38 billion in October 2017 to $2.44 billion in October 2018.

Other Manufactured Goods ranked second with $451.35 million or 7.4 percent of the total export receipts. Export of
this commodity increased by 24.3 percent, from the $363.17 million export revenue posted in the same month of the
previous year.

Machinery and Transport Equipment was the third top export earner with revenue of $376.73 million or a share of
6.2 percent. Export sales of this commodity group went up by  94.1 percent, from the $194.06 million recorded in
October 2017. 

Bananas (Fresh) placed fourth with $178.82 million earnings or a 2.9 percent share to the total export receipts in
October 2018.  Export of this commodity went up by 30.9 percent from the previous year’s value of $136.63 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fifth with $170.31 million
or a share of 2.8 percent to total export earnings in October 2018. It went down by 4.1 percent from an export value
of $177.55 million in October 2017.

Completing the list of the top 10 exports and their corresponding sales were:

 Metal Components with  $143.44 million, which went up by 17.6 percent;

 Chemicals with $100.67 million, which declined by 5.8 percent;
 Copper Concentrates with  $96.38 million, which surged by 167,014.3 percent;
 Miscellaneous manufactured articles with $94.22 million, which increased by 23.8 percent;
 Electronic Equipment and Parts with $87.04 million, which went down by 11.8 percent.

Total receipts from the top 10 major exports amounted to $4.95 billion or a share of 81.0 percent of the total export.
This recorded an increase of 9.9 percent from the October 2017 export value of $4.50 billion. (Table 2)
4. ELECTRONIC PRODUCTS COMMODITY GROUP ACCOUNTS FOR  26.4 PERCENT OF TOTAL IMPORT BILL
Total payment for the country’s top 10 imports for October 2018 amounted to $7.71 billion, an increase of 22.4
percent over the October 2017 import value of $6.30 billion.  (Table 3)

Import bill of Electronic Products in October 2018 accounted for the highest total imports with a share of 26.4
percent to the total imports valued at $2.72 billion. Import of this commodity group expanded by 14.8 percent from the
$2.37 billion posted in October 2017. Among electronic products, Components/Devices
(Semiconductors) reflected the biggest share of 18.2 percent.  It increased by 15.0 percent, from $1.63 billion in
October 2017 to $1.87 billion in October 2018.

Mineral Fuels, Lubricants and Related Materials came second with import value reaching $1.23 billion.  This
commodity went up by 45.4 percent from the October 2017 import value of $844.51 million.

Transport Equipment ranked third with import bill amounting to $1.19 billion or 11.6 percent share to total import
value. It rose by 18.4 percent from the October 2017 value of $1.01 billion.

Industrial Machinery and Equipment placed fourth with imports valued at $616.22 million or a share of 6.0 percent.
Imports of this commodity expanded by 21.5 percent over the October 2017 value of $507.29 million.

Imports of Iron and Steel, valued at $507.14 million in October 2018 or a percent share of 4.9 percent, ranked fifth.
Import of this commodity went up by 7.8 percent from $470.45 million in October 2017.

Completing the list of the top 10 imports for October 2018 were:

 Other Food and Live Animals, $351.95 million which rose by 33.6 percent;
 Miscellaneous Manufactured Articles, $346.39 million which increased by 25.4 percent;
 Telecommunication Equipment and Electrical Machinery, $269.37 million which went up  by 26.7
percent;
 Plastics in Primary and Non-Primary forms, $244.60 million which increased by 24.9 percent; and
 Cereals and Cereal Preparations, $231.74 million which grew by 52.3 percent.
5. EXPORTS OF MANUFACTURED GOODS INCREASE BY 5.7 PERCENT
Exports of Manufactured Goods, comprising a share of 83.7 percent to total exports, were valued at $5.11 billion in
October 2018   (Table 4).  It increased by 5.7 percent compared to the $4.84 billion export value in October 2017.

Total Agro-Based Products, with a share of 7.0 percent or $429.58 million, went down by 13.7 percent in October
2018.

Exports from Mineral Products, with a value of $319.97 million or a share of 5.2 percent, declined by 7.1 percent in
October 2018.

Merchandise exports from Special Transactions, with a value of $177.65 million or a share of 2.9 percent to the total
export revenue, increased by 33.5 percent in October 2018 from the previous year’s figure of $133.03 million.

Petroleum Products, with 0.6 percent share or $37.13 million, decreased by 51.0 percent from $75.79 million in the
same month of previous year.

Exports of Forest Products, accounting for 0.5 percent share to the total exports or a value of $30.75 million,
expanded by 28.7 percent in October 2018.
6. IMPORTS OF RAW MATERIALS AND INTERMEDIATE GOODS SHARE 37.7 PERCENT OF THE TOTAL
IMPORT VALUE
By major type of goods, imports of Raw Materials and Intermediate Goods contributed the largest share of 37.7
percent to total import value. It increased by 22.2 percent, from $3.18 billion in October 2017 to $3.89 billion in
October 2018. Semi-Processed Raw Materials had a share amounting to $3.56 billion or 34.4 percent to total
imports for this commodity group.  Import of this commodity grew by 18.6 percent from the $2.99 billion posted in
October 2017. (Table 5)

Imports of Capital Goods with value of $3.47 billion, accounted for 33.6 percent in October 2018. It went up by 21.2
percent from the October 2017 import value of $2.86 billion.

Imports of Consumer Goods, amounting to $1.67 billion, contributed 16.1 percent to the total imports in October
2018.  It grew by 7.5 percent from the $1.55 billion registered value in October 2017.

Imports of Mineral Fuels, Lubricants and Related Materials, comprising 11.9 percent of total imports, posted an
increment of 45.4 percent, from $844.51 million in October 2017 to $1.23 billion in October 2018.  Petroleum Crude,
valued at $539.03 million, accounted for the largest share of 5.2 percent of imports of this commodity group.

Moreover, imports of Special Transactions with a 0.7 percent share to total export, registered an increase of 13.2
percent, from $61.27 million in October 2017 to $69.35 million in October 2018.
2019

Total external trade increased and trade deficit decreased The country’s total external trade in goods in 2019 amounted to USD
182.52 billion, which represents an increase of 0.2 percent from the USD 182.15 billion total external trade in 2018. Of the total
external trade, USD 70.93 billion (38.9%) were exported goods and USD 111.59 billion (61.1%) were imported goods. The total
export and import values in 2019 resulted to the country’s unfavorable balance of trade in goods (BoT-G) of USD 40.67 billion,
which was lower than the USD 43.53 billion trade deficit in 2018. (Table 1 and Figure 1)

1. Exports increased by 2.3 percent The country’s total export sales in 2019 was USD 70.93 billion, an increase of 2.3 percent
from the USD 69.31 billion total export sales in 2018. Export sales from the top 10 commodities reached USD 57.94 billion or
81.7 percent of the total export revenue in 2019. This was 3.9 percent higher than the export value of the top 10 commodities
of USD 55.79 billion in 2018. (Table 2) 2. Exports of electronic products comprised more than half of the total export Electronic
products continued to be the top export earner in 2019 with a share of 56.4 percent to total exports. Total export earnings in
electronic products valued at USD 40.02 billion in 2019 went up by 4.4 percent, from USD 38.33 billion export receipts in 2018

Completing the list of top 5 export commodities, including their corresponding export sales and percent shares in 2019, were: a.
other manufactured goods, USD 4.03 billion (5.7%); b. machinery and transport equipment, USD 2.69 billion (3.8%); c. ignition
wiring sets and other wiring sets used in vehicles, USD 2.35 billion (3.3%); and d. fresh bananas, USD 1.95 billion (2.8%). (Table 2
and Figure 6)

2020

O V E R V I E W In 2020, Philippines was the number 32 economy in the world in terms of GDP (current US$), the number
39 in total exports, the number 34 in total imports, the number 132 economy in terms of GDP per capita (current US$) and
the number 39 most complex economy according to the Economic Complexity Index (ECI).
E X P O R T S The top exports of Philippines are Integrated Circuits ($22.6B), Office Machine Parts ($9.32B), Electrical
Transformers ($2.36B), Insulated Wire ($2.32B), and Semiconductor Devices ($2.18B), exporting mostly
to China ($12.9B), United States ($10.7B), Japan ($10.3B), Hong Kong ($10B), and Singapore ($6.28B).
In 2020, Philippines was the world's biggest exporter of Nickel Ore ($1.34B) and Gold Clad Metals ($17.1M)

I M P O R T S The top imports of Philippines are Integrated Circuits ($12.3B), Refined Petroleum ($5.61B), Broadcasting

Equipment ($2.89B), Office Machine Parts ($2.45B), and Cars ($2.16B), importing mostly
from China ($34.5B), Japan ($8.21B), South Korea ($7.31B), United States ($6.84B), and Indonesia ($6.34B).
In 2020, Philippines was the world's biggest importer of Copra ($25.9M)

L O C A T I O N Philippines borders China, Indonesia, Japan, Malaysia, Palau, and Vietnam by sea.

2021
O V E R V I E W In 2020, Philippines was the number 32 economy in the world in terms of GDP (current US$), the number
39 in total exports, the number 34 in total imports, the number 132 economy in terms of GDP per capita (current US$) and
the number 39 most complex economy according to the Economic Complexity Index (ECI).
E X P O R T S The top exports of Philippines are Integrated Circuits ($22.6B), Office Machine Parts ($9.32B), Electrical
Transformers ($2.36B), Insulated Wire ($2.32B), and Semiconductor Devices ($2.18B), exporting mostly
to China ($12.9B), United States ($10.7B), Japan ($10.3B), Hong Kong ($10B), and Singapore ($6.28B).
In 2020, Philippines was the world's biggest exporter of Nickel Ore ($1.34B) and Gold Clad Metals ($17.1M)

I M P O R T S The top imports of Philippines are Integrated Circuits ($12.3B), Refined Petroleum ($5.61B), Broadcasting

Equipment ($2.89B), Office Machine Parts ($2.45B), and Cars ($2.16B), importing mostly
from China ($34.5B), Japan ($8.21B), South Korea ($7.31B), United States ($6.84B), and Indonesia ($6.34B).
In 2020, Philippines was the world's biggest importer of Copra ($25.9M)

L O C A T I O N Philippines borders China, Indonesia, Japan, Malaysia, Palau, and Vietnam by sea.

O V E R V I E W In August 2021 Philippines exported $6.54B and imported $10.6B, resulting in a negative trade balance of
$4.05B. Between August 2020 and August 2021 the exports of Philippines have increased by $1.04B (19%) from $5.5B to
$6.54B, while imports increased by $2.8B (35.9%) from $7.8B to $10.6B.
T R A D E In August 2021, the top exports of Philippines were Integrated Circuits ($1.54B), Commodities not elsewhere
specified ($818M), Computers ($298M), Insulated Wire ($241M), and Industrial Printers ($237M). In August 2021 the top
imports of Philippines were Commodities not elsewhere specified ($1.17B), Refined Petroleum ($852M), Integrated
Circuits ($706M), Wheat ($240M), and Coal Briquettes ($238M).
D E S T I N A T I O N S In August 2021, Philippines exported mostly to China ($1.06B), United
States ($1.04B), Japan ($952M), Hong Kong ($931M), and Singapore ($393M), and imported mostly
from China ($2.48B), Japan ($984M), South Korea ($819M), United States ($691M), and Thailand ($680M).
G R O W T H In August 2021, the increase in Philippines's year-by-year exports was explained primarily by an increase in
exports to Hong Kong ($165M or 25.5%), United States ($108M or 12.9%), and South Korea ($78.5M or 38.2%), and product
exports increase in Commodities not elsewhere specified ($269M or 45.1%), Integrated Circuits ($115M or 10%),
and Gold ($55.5M or 43.8%). In August 2021, the increase in Philippines's year-by-year imports was explained primarily by an
increase in imports from China ($369M or 17.2%), Kuwait ($130M or 445k%), and Singapore ($108M or 23.2%), and product
imports increase in Refined Petroleum ($223M or 69.8%), Office Machine Parts ($99.5M or 64.7%), and Delivery
Trucks ($59.4M or 40.5%).

2022

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