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Imports of textile yarn & fabrics related products fall
Jun '08
According to National Statistics Office of Philippines, the external trade from January to April 2008 stands at $36.322 billion. Total external trade in goods for January to April 2008 reached $36.322 billion, representing a 10.6 percent increment from $32.828 billion during the 4-month period in 2007.

This growth is triggered by the 17.9 percent growth of the total imports to $19.462 billion from $16.504 billion in the 4-month period of 2007. Meanwhile, total exports grew a modest growth of 3.3 percent during the 4-month period in 2008 to aggregate dollar revenue of $16.860 billion from $16.325 billion during the same period in 2007. Balance of trade in goods (BOT-G) for the Philippines registered a deficit of $2.601 billion during the 4-month period in 2008.

Total merchandise trade for April 2008 grew by 8.4 percent to $9.180 billion from $8.467 billion in April 2007. Dollar-inflow generated by exports reached $4.325 billion, or 4.9 percent higher from last year's $4.124 billion. Expenditures for imported goods sustained its growth by 11.8 percent to $4.855 billion from $4.343 billion in April 2007. The balance of trade in goods (BOT-G) recorded a deficit of $531 million in April 2008.

Industrial Machinery & Equipment ranked fifth recorded a share of 4.2 percent at $203.04 million worth of imports, went up by 35.6 percent from its year ago level of $149.74 million.

Rounding up the list of the top ten imports for April 2008 were Organic and Inorganic Chemicals, $94.29 million; Fertilizers Manufactured, $91.29 million; Plastics in Primary and Non-Primary Forms with $90.29 million worth of imports; and Textile Yarn, Fabrics, Made-Up Articles and Related Products, $78.22 million.

Accounting for 37.9 percent of the total imports, payments in April 2008 for Raw Materials and Intermediate Goods amounted to $1.841 billion or a 3.4 percent decline over last year's figure of $1.907 billion. Compared to the previous month's level, purchases likewise went down by 4.4 percent from $1.925 billion. Semi-Processed Raw Materials valued at $1.625 billion had the biggest share of 33.5 percent.

National Statistics Office Philippines

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