Philippines Trade Gap Narrows in June 2019 – Philippines Trade Data

23 August 2019
Philippines Trade Data

The Philippines’ trade deficit in June 2019 narrows to US$ 2.47 billion as exports continued to grow while imports declined further. According to Philippines Trade Data, the country’s balance of trade recorded US$ (-) 2472 million in June month of 2019, while US$ (-) 3690 million recorded in same month last year. Let’s discuss about Philippines trade with special focus on Philippines exports and imports and try to analyse the country’s market from Philippines import and export data.


Philippines Exports and Imports in June 2018 and June 2019


Philippines’ total exports and imports valued at US$ 6008 million and US$ 8480 million respectively in June 2019. Exports were rose from US$ 5861 million and imports were declined from US$ 9551 million in same month last year. Total external trade in commodities in June amounted to US$ 14.49 billion, a decline of 5.8% from US$ 15.39 billion in the same month in the previous year. According to the National Economic and Development Authority (NEDA), the reason for this weakness in external trade is ongoing global trade disputes.


By commodity, Philippines recorded an increase in export of fresh bananas, cathodes, electronic products, gold, transport equipment, machinery and mineral goods. Electronics remained the largest export product of the Philippines.


Imports of cereals, iron & steel, industrial machinery & equipment, cereal preparations, transport equipment, plastics, electrical machinery, telecommunication equipment, food, mineral fuels and miscellaneous manufactured articles declined in June 2019. Analyse import and export in the Philippines from the chart and table given below.


 

Month/Year

June 2018

June 2019

Total Value (Exports + Imports)

US$ 15412 million

US$ 14488 million

Export Value

US$ 5861 million

US$ 6008 million

Import Value

US$ 9551 million

US$ 8480 million

Balance of Trade

US$ (-) 3690 million

US$ (-) 2472 million

 


>> Search Philippines Import Export Data and Filipino Importers & Exporters!


The United States of America remained as the top destination for Philippine exports, while China stood as the country’s biggest supplier of imported goods. Philippines’ largest export partners are – Japan, China, Hong Kong and Singapore. Philippines’ biggest import partners are – Japan, South Korea, United States and Thailand.


Philippines’ Major Imports


As per Philippines import data, the country’s total imports valued at US$ 115038 million in 2018. Electrical machinery and equipment is the largest import commodity of the country, which recorded US$ 28342 million import value in the said year. Check the list of Philippines’ top 5 import commodities 2018 with their percentage shares.


 

Product

Percentage Share 2018

Electrical Machinery and Equipment

24.64%

Mineral Fuels and Oils

12.07%

Machinery, Mechanical Appliances, etc.

11.11%

Vehicles

7.52%

Iron and Steel

4.54%

 


Philippines’ Main Exports


As per Philippines export data, total exports amounted to US$ 67487 million in 2018. Electrical machinery and equipment is also country’s largest export commodity, which recorded US$ 32874 million value in the last year. Here is the list of top 5 export commodities 2018 with their percentage shares.


 

Product

Percentage Share 2018

Electrical Machinery and Equipment

48.71%

Machinery, Mechanical Appliances, etc.

14.29%

Optical, Photographic, Medical, Equipment, etc.

3.32%

Edible Fruit and Nuts

3.07%

Natural or Cultured Pearls, Precious Stones, etc.

2.15%

 


Philippines import-export market can be analysed on the basis of:

                 ·         Market Size

                 ·         Market Price

                 ·         Market Strategy

                 ·         Companies

                 ·         Commodities

                 ·         Ports

                 ·         Trading Partners

                 ·         Trading Countries

                 ·         Many More


Whether you want to import or export a product from the Philippines, our trade data of Philippines will give you the best coverage of country’s import and export activities. Our data contains importers and exporters in the Philippines besides other information. Check samples below to know which columns are covered in our Philippines import and export data.


Sample 1 – Philippines Import


Date

2-June-2018

Filipino Importer Name

Awesome Traders Corporation

Exporter Name

Pinter Food Co.

Broker Name

Elizabeth B. Banadera

HS Code

20093900000

Product Description

Wintermelon Syrup, Grapefruit Juice LTO-CFR

Origin Country

Taiwan, Province of China

Port of Entry

Manila Int’l Container Port

Port of Destination

Manila Int’l Container Port

Quantity

2224

Gross Weight KGS

41856

Net Weight KGS

39632

FOB Value (USD)

21624.63

Freight

499.92

Terms of Delivery

CFR

Insurance

432.49

Quantity Units

Litre (1 dm3)

Item No.

1

Number of Packages

2224

Type of Packages

CT

Bill of Lading Number

HDMUKAML0637045

No. of Container

3

Container Type

FCL

 


Sample 2 – Philippines Export


Date

1-June-2018

Filipino Exporter Name

LA Suerte Cigar & Cigarette Factory

Consignee Name

Network Star Limited

Destination Country

Singapore

HS Code

24022090000

Product Description

Astro Filter King Half CS CIGS

Terms

FOB

Gross Weight (KG)

28122

Package Number

4360

Package Unit

CS

FOB Value (USD)

204048

 


The Philippines, officially the Republic of the Philippines is a country in south-east Asia. It ranked 34 in imports and 41 in exports globally in 2018. So, get the latest updates on Philippines trade with the list of importers and exporters in the Philippines right at Philippines Trade Data.


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