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's 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's $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's deficit of $254 million.
marketing@alchempro.com
