Philippines Balance of Trade Deficit Widens in September


The balance of trade for the Philippines in September 2012 registered a deficit of $483 million, as exports stood at $4.78 billion while imports surged to $5.27 billion.

Total external trade in goods for September 2012 reached $10.051 billion, representing an 11.9 percent increase from $8.980 billion recorded during the same month in 2011. The increase can be attributed to the 22.8 percent positive growth of exports to $4.784 billion from $3.897 billion in the same month a year ago. Also, total imports expanded by 3.6 percent to $5.267 billion from $5.083 billion in September 2011.  Thus, the balance of trade in goods (BOT-G) for the Philippines in September 2012 registered a deficit of $483 million from $1.186 billion deficit in the same period last year.

The country’s total merchandise imports for September 2012 went up by 3.6 percent to $5.267 billion from $5.083 billion. The increment in imports payments resulted mainly on the higher purchases of goods such as Mineral Fuels, Lubricants and Related Materials, Cereals and Cereal Preparations, Telecommunication Equipment and Electrical Machinery, and Industrial Machinery and Equipment. Similarly, it increased by 4.1 percent compared to previous month’s level to $5.057 billion. On the other hand, aggregate imports slightly went up by 0.5 percent to $46.036 billion value in the first nine months of 2012 from $45.814 billion for the same period in 2011.
 

Philippines National Statistics Office | Andre Crujo | andre@tradingeconomics.com
12/21/2012 12:05:34 PM