THE Philippine’s total external trade in goods for January to November 2011 went up by 2.9 percent compared to the same period of 2010, the National Statistics Office (NSO) said on Wednesday.
According to the NSO, the total trade during the first 11 months of 2011 reached $100.14 billion
compared to $97.280 billion of the previous year. Total imports also grew by 11.0 percent to $55.506 billion, which is more than the $49.984 billion posted during the same period in 2010.
However, aggregate exports decreased by 5.6 percent from $47.296 billion in January to November of the previous year to $44.635 billion.
The balance of trade in goods for the Philippines posted a deficit of $10.871 billion, higher than the $2.688 billion deficit recorded during the same period in 2010.
Meanwhile, the agency added that the country’s total merchandise imports for November 2011 were estimated at $4.985 billion, higher by 0.6 percent from $4.956 billion in 2010. However, it dropped to 0.7 percent month-on-month from $5.019 billion in October 2011.
Total trade for November 2011 also registered an 8.5-percent decrease at $8.327 billion from $9.102 billion in November 2010, thus the balance of trade in goods was higher at $1.643 billion than last year’s deficit of $810.00 million.
Moreover, the NSO said that electronic products emerged the country’s leading imports in November 2011, accounting for 27.7 percent of the aggregate import bill.
“Payments for electronic products placed at $1.382 billion or an annual decline of 14.9 percent,” the agency added. On a monthly basis, it expanded by 11.8 percent from the $1.237 billion registered in October 2011.
Imports of mineral fuels, lubricants and related materials ranked second in November 2011 amounting to $1.131 billion, followed by transport equipment ($270.91 million); industrial machinery and equipment ($256.04 million); organic and inorganic chemicals ($139.88 million); plastics in primary and non-primary forms ($136.35 million); iron and steel ($104.75 million); cereals and cereal preparations ($103.50 million); telecommunication equipment and electrical machinery ($102.28 million); and feeding stuff for animals ($77.78 million).
“Aggregate payment for the country’s top ten imports for November 2011 reached $3.704 billion or 74.3 percent of the total import bill,” the agency noted. Moreover, the NSO said that in November 2011, Japan, including Okinawa, was reported as the country’s biggest source of imports with $631.60 million, an increase of 8.3 percent from $583.07 million in November 2010.
China emerged as the second biggest source of imports ($548.82 million) followed by the United States including Alaska and Hawaii ($542.80 million); Singapore ($343.38 million); Saudi Arabia ($325.80 million); United Arab Emirates ($313.59 million); Taiwan, ($306.70 million); South Korea ($300.93 million); Malaysia, including Sabah and Sarawak, ($221.81 million); and Thailand ($212.95 million).
“Payments for imports from the top ten sources for November 2011 amounted to $3.748 billion or 75.2 percent of the total,” the NSO added.
According to the NSO, the total trade during the first 11 months of 2011 reached $100.14 billion
compared to $97.280 billion of the previous year. Total imports also grew by 11.0 percent to $55.506 billion, which is more than the $49.984 billion posted during the same period in 2010.
However, aggregate exports decreased by 5.6 percent from $47.296 billion in January to November of the previous year to $44.635 billion.
The balance of trade in goods for the Philippines posted a deficit of $10.871 billion, higher than the $2.688 billion deficit recorded during the same period in 2010.
Meanwhile, the agency added that the country’s total merchandise imports for November 2011 were estimated at $4.985 billion, higher by 0.6 percent from $4.956 billion in 2010. However, it dropped to 0.7 percent month-on-month from $5.019 billion in October 2011.
Total trade for November 2011 also registered an 8.5-percent decrease at $8.327 billion from $9.102 billion in November 2010, thus the balance of trade in goods was higher at $1.643 billion than last year’s deficit of $810.00 million.
Moreover, the NSO said that electronic products emerged the country’s leading imports in November 2011, accounting for 27.7 percent of the aggregate import bill.
“Payments for electronic products placed at $1.382 billion or an annual decline of 14.9 percent,” the agency added. On a monthly basis, it expanded by 11.8 percent from the $1.237 billion registered in October 2011.
Imports of mineral fuels, lubricants and related materials ranked second in November 2011 amounting to $1.131 billion, followed by transport equipment ($270.91 million); industrial machinery and equipment ($256.04 million); organic and inorganic chemicals ($139.88 million); plastics in primary and non-primary forms ($136.35 million); iron and steel ($104.75 million); cereals and cereal preparations ($103.50 million); telecommunication equipment and electrical machinery ($102.28 million); and feeding stuff for animals ($77.78 million).
“Aggregate payment for the country’s top ten imports for November 2011 reached $3.704 billion or 74.3 percent of the total import bill,” the agency noted. Moreover, the NSO said that in November 2011, Japan, including Okinawa, was reported as the country’s biggest source of imports with $631.60 million, an increase of 8.3 percent from $583.07 million in November 2010.
China emerged as the second biggest source of imports ($548.82 million) followed by the United States including Alaska and Hawaii ($542.80 million); Singapore ($343.38 million); Saudi Arabia ($325.80 million); United Arab Emirates ($313.59 million); Taiwan, ($306.70 million); South Korea ($300.93 million); Malaysia, including Sabah and Sarawak, ($221.81 million); and Thailand ($212.95 million).
“Payments for imports from the top ten sources for November 2011 amounted to $3.748 billion or 75.2 percent of the total,” the NSO added.
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