INDUSTRY AND ENVIRONMENTAL ANALYSIS:

CURRENT EVENTS PART II

Importation of certain commodities into the Philippines is regulated or

prohibited for reasons of public health and safety, national security,
international commitments, and development/rationalization of local
industry.
The Philippines is the 41st largest export economy in the world. In 2016, the
Philippines exported $54.3B and imported $80.5B, resulting in a negative trade
balance of $26.3B. In 2016 the GDP of the Philippines was $304B and its GDP per
capita was $7.81k. The top exports of the Philippines are Integrated
Circuits ($13.6B), Computers ($4.47B), WoodCarpentry ($2.78B), Semiconductor
Devices ($2.33B) and Insulated Wire ($2.25B), using the 1992 revision of the HS
(Harmonized System) classification. Its top imports are Integrated
Circuits ($9.5B), Cars ($3.93B), Refined Petroleum ($3.56B), Office Machine
Parts($3.06B) and Crude Petroleum ($2.91B). The top export destinations of the
Philippines are Japan ($11.7B), the United States ($8.67B), Hong Kong
($6.58B), China ($6.19B) and Singapore ($3.7B). The top import origins
are China ($29.8B), Japan ($10.3B), the United States ($8.2B), South
Korea ($7.28B) and Singapore ($6.51B). The Philippines is an island and
borders China, Indonesia, Japan, Malaysia, Taiwan, Vietnam and Palau by sea.
The total import goods for the month of August 2017 amounting to
$7.92 billion, grew by 10.5 percent from $7.16 billion recorded during the
same period of the previous year. The increment was due to the positive
performance of nine out of the top ten major import commodities for the
month. These were metalliferous ores and metal scrap (718.0%); organic and
inorganic chemicals (27.6%); mineral fuels, lubricants and related materials
(23.8%); telecommunication equipment and electrical machinery (11.3%);
iron and steel (10.9%); other food and live animals (9.7%); electronic
products (8.3%); industrial machinery and equipment (6.2%) and transport
equipment (2.2%).
 Top 10 Philippine Imports from All Countries: August 2017 p
Year-on-Year Growth in Percent)

Gainers Loser

Miscellaneous
Metalliferous Ores and Metal Scrap 718.0 Manufactured -16.2
Articles
Organic and Inorganic Chemicals 27.6
Fuels, Lubricants and Related Materials 23.8
Telocommunication Equipment and Electrical
11.3

Iron and Steel 10.9

Other Food and Live Animals 9.7
Electronic Products 8.3
Industrial Machinery and Equipment 6.2
Tansport Equipment 2.2

p - preliminary, r – revised
IMPORTS FROM COUNTRIES IN EAST ASIA ACCOUNT FOR 44.9
PERCENT

By economic bloc, East Asia (China, Hong Kong, Japan, Macau,

Mongolia, North Korea, South Korea and Taiwan) was the biggest source of
the country’s imports in August 2017 accounting for 44.9 percent of the total
imports valued at $3.55 billion. It grew by 7.2 percent from $3.31 billion in
August 2016.
Commodities imported from ASEAN member countries reached $2.17
billion. It represented a 27.4 percent share to the total imports increasing by
13.9 percent over the previous year’s import recorded at $1.90 billion.
Imports from European Union amounted $662.49 million. It expanded
by 25.7 percent compared with the previous year’s value of $527.11 million.

https://psa.gov.ph/content/highlights-philippine-export-and-import-statistics-
august-2017