National Statistics Office of Philippines released the External Trade results for October 2005.
It stated that the January to October total trade stands at $70.895 billion.
Total external trade in goods for January to October 2005 reached $70.895 billion, a 1.5 percent growth from $69.835 billion during the same period of the previous year.
Expenditures for total foreign-made merchandise slightly increased by 0.3 percent to $37.227 billion from $37.117 billion. Similarly, exports registered a year-on-year increment of 2.9 percent to aggregate dollar revenue of $33.668 billion from $32.718 billion a year ago.
Textile yarn, fabrics, made-up articles and related products, accounted for 2.6 percent of the total imports, with foreign bill amounting to $101.04 million from $81.91 million last year. Higher value in the importation of fabrics for embroidery and yarns mainly contributed the growth of 23.4 percent.
Balance of trade in goods (BOT-G) deficit for the Philippines reached $3.559 billion, lower compared to last year? deficit of $4.399 billion.
October imports register 3.1 percent decrease
Total merchandise trade for October 2005 went down by 3.2 percent to $7.517 billion from $7.761 billion during the same period a year earlier. Dollar-inflow generated by exports amounted to $3.634 billion, or 3.2 percent lower than last year? $3.753 billion.
On the other hand, foreign bill on imported goods dropped by 3.1 percent to $3.882 billion from $4.008 billion. The BOT-G registered a deficit of $248 million, lower compared to last year? deficit of $254 million.
Electronic products account for 48.6 percent of import bill
Imports of mineral fuels, lubricants and related materials in October ranked second with 10.0 percent share. Expenditures at $389.90 million, registered a 19.5 percent decrease over the previous year? level of $484.13 million.
Transport equipment, contributing 5.0 percent to the total bill, was RP? third top import for the month with payments at $194.56 million from last year? $109.24 million. The double-digit increase of 78.1 percent was brought about by importations made on passenger cars, components, parts and accessories of motor vehicles.
Industrial machinery and equipment, the fourth top import was worth $160.97 million, or an increment of 10.1 percent from $146.24 million a year earlier. This was due to the high value of imports on parts of machinery and mechanical appliances.
Raw materials and intermediate goods account for 41.7 percent of the total imports
Payments in October for raw materials and intermediate goods accounted for 41.7 percent share as importation fell by 9.4 percent to $1.620 billion from last year? figure of $1.787 billion. Semi-processed raw materials got the biggest share of 38.6 percent and valued at $1.497 billion.
Capital goods
Comprising 38.8 percent of the total imports, moved up by 11.9 percent year-on-year to $1.505 billion from $1.345 billion. The major share went to telecommunication equipment and electrical machinery with a 21.7 percent share of the total imports and valued at $840.87 million.
