Rounding up the list of the top imports for October 2007 were Organic and Inorganic Chemicals, $91.51 million; Plastics in Primary and Non-Primary Forms with $85.88 million worth of imports; Textile Yarn, Fabrics, Made-Up Articles and Related Products, $83.79 million; and Telecommunication Equipment and Electrical Machinery, $75.86 million.
RAW MATERIALS AND INTERMEDIATE GOODS ACCOUNT FOR 39.9 PERCENT OF THE TOTAL IMPORTS:
Accounting for 39.9 percent of the total imports, payments in October 2007 for Raw Materials and Intermediate Goods amounted to $2.048 billion or a 5.6 percent decrease over last year's figure of $2.171 billion.
Compared to the previous month?s level, purchases likewise went down by 2.0 percent from $2.089 billion. Semi-Processed Raw Materials mostly comprise imports of raw materials and intermediate goods valued at $1.913 billion or a decline of 5.8 percent from $2.031 billion in 2006.
Purchases of Consumer Goods amounted to $449.16 million, rose by 49.1 percent from $301.25 million in October 2006, while Special Transactions decreased by 25.4 percent to $74.53 million from $99.91 million.
JAPAN CORNERS 13.4 PERCENT OF OCTOBER 2007 IMPORT BILL:
Japan toppled United States of America (USA) as the top source of imports for October 2007 with a 13.4 percent share of the total import bill. Exports to Japan amounted to $648.80 million, yielding a two-way trade value of $1.336 billion and a trade deficit for RP at $38.77 million.
United States of America (USA) followed as the second biggest source of imports for October 2007 accounting for a 13.2 percent share of the total import bill, down by 13.9 percent to $678.80 million from $787.94 million during the same month in 2006. Exports to USA amounted to $820.48 million resulting to a total trade value of $1.499 billion and a trade surplus of $141.68 million.
Singapore came third, with an 11.2 percent share, recording payments worth $574.46 million or a growth of 61.1 percent from $356.70 million in October 2006.
Revenue from RP?s exports to Singapore reached $267.35 million, which generated a total trade value of $841.81 million and a $307.10 million trade deficit for the Philippines.
Other major sources of imports for the month of October 2007 were Taiwan, $429.28 million; People?s Republic of China, $396.48 million; Saudi Arabia, $353.68 million; Republic of Korea, $288.51 million; Thailand, $226.55 million; Hong Kong, $205.59 million; and Malaysia, $176.32 million.
National Statistics Office Philippines
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