Textile products among top imports in Oct

31 Dec '07

4 min read

National Statistics Office Philippines announced the External Trade Performance for October 2007. Total external trade in goods for January to October 2007 reached $87.071 billion, representing a 5.2 percent increment from $82.774 billion during the same 10-month period in 2006.

Similarly, total imports grew by 5.0 percent to $45.221 billion from $43.086 billion during the same 10-month period in 2006. The same is true for exports where a 5.4 percent increase is noted to aggregate dollar revenue of $41.850 billion from $39.689 billion during the same 10-month period in 2006.

Balance of trade in goods (BOT-G) for the Philippines registered a deficit of $3.371 billion during the 10-month period in 2007.

OCTOBER 2007 IMPORTS UP BY 9.6 PERCENT:
Total merchandise trade for October 2007 increased by 10.0 percent to $9.786 billion from $8.894 billion in October 2006.

Revenue generated by exports increased by 10.5 percent to $4.648 billion from last year?s $4.207 billion. The same is true for imports posting an increase of 9.6 percent to $5.138 billion from $4.686 billion in October 2006.

The balance of trade in goods (BOT-G) in October 2007 recorded a deficit of $489.00 million, higher than the last year?s recorded deficit of $479.00 million.

Transport Equipment, contributing 4.5 percent to the total bill, was the RP?s third top import for the month with payments placed at $230.26 million from last year?s $169.05 million or an increase of 36.2 percent.This is due to the importation of aeroplanes, tankers and completely built-up (CBU) motor buses and motor cars.

Industrial Machinery and Equipment ranking fourth recorded a share of 3.6 percent at $185.21 million worth of imports; down by 0.4 percent from its year ago level of $185.89 million.

More National Statistics Office Philippines News... More Textiles News - Philippines...