PHILIPPINES BALANCE OF TRADE
Philippines recorded a trade deficit of 649074 USD Thousand in July of 2013. Balance of Trade in Philippines is reported by the National Statistics Office of Philippines. Philippines Balance of Trade averaged -236237 USD Thousand from 1957 until 2013, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -1658000 USD Thousand in November of 2011. Philippines posts regular trade deficits due to high imports of raw materials and intermediate goods. Main imports are: fuel (25 percent), electronic products (25 percent), transport equipment (7 percent) and industrial machinery (5 percent). Philippines is a leading exporter of coconut, pineapple, abaca and electronic products like processors, chips and hard drives (more than 40 percent of total exports). Main trading partners are: Japan (28 percent of total exports and 11 percent of imports), United States (15 percent of exports and 11 percent of imports) and China (12 percent of exports and 11 percent of imports). This page contains - Philippines Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2013-10-24
Joana Taborda In July of 2013, Philippines’ trade deficit widened to USD 649 million, from USD 320 million a year earlier. While exports grew for the second consecutive month and electronic shipments rose for the first time this year, imports increased at their best pace in seven months.
Export earnings amounted to USD 4.84 billion, a 2.3 percent increase over a year earlier and a 7.7 percent increment over the previous month. Growth was mainly due to higher sales of machinery and transport equipment, woodcrafts and furniture, chemicals, electronic products and cathodes and sections of cathodes of refine copper.
While shipments of electronic products showed the first annual increase this year (up by 11.2 percent yoy), exports of manufactured goods dropped by 5.4 percent.
Shipments to China, Japan and Hong Kong
Joana Taborda In July of 2013, Philippines’ trade deficit widened to USD 649 million, from USD 320 million a year earlier. While exports grew for the second consecutive month and electronic shipments rose for the first time this year, imports increased at their best pace in seven months.
Export earnings amounted to USD 4.84 billion, a 2.3 percent increase over a year earlier and a 7.7 percent increment over the previous month. Growth was mainly due to higher sales of machinery and transport equipment, woodcrafts and furniture, chemicals, electronic products and cathodes and sections of cathodes of refine copper.
While shipments of electronic products showed the first annual increase this year (up by 11.2 percent yoy), exports of manufactured goods dropped by 5.4 percent.
Shipments to China, Japan and Hong Kong