National Accounts of the Philippines - Highlights - Imports of Goods

National Accounts of the Philippines

Untitled Document

 

1st Quarter 2015
Gross National Income & Gross Domestic Product
by Expenditure Shares

 

Imports of Goods

Imports of Goods posts slower growth

Total Imports of Goods for the first quarter of 2015 grew by 2.5 percent from 16.8 percent the previous year.

The major contributors to total Imports of Goods’ growth were:  Mineral fuels, 32.6 percent from 18.6 percent; Semiconductors, 17.3 percent from negative 41.1 percent; Base metals, 16.3 percent from 32.6 percent; Medical and pharmaceutical products, 20.2 percent from 25.6 percent; and Cereals, 23.9 percent from 91.3 percent.

On the other hand, Transport equipment and Dairy products negatively contributed to the first quarter’s growth of Imports of Goods with declines of 32.5 percent and 37.2 percent from 83.1 percent and 57.8 percent, respectively. This was followed by Feedstuff at negative 38.2 percent from 72.5 percent, Communication/radar at negative 15.0 percent from 8.5 percent; and Consumer electronics at negative 37.5 percent from negative 14.9 percent last year.

IMPORTS OF GOODS
1st Quarter 2014 and 1st Quarter 2015
AT CURRENT PRICES, IN MILLION PESOS

ITEMS Q1 2014 Q1 2015 Growth Rate (%)
TOTAL IMPORTS OF GOODS 824,239 775,323 -5.9
       
A. PRINCIPAL IMPORT GOODS 614,350 506,914 -17.5
       
 1. Electronics 76,350 76,098 -0.3
     Components/Devices (Semiconductors) 31,704 36,927 16.5
     Electronic Data Processing 15,998 15,209 -4.9
     Office Equipment 1,349 646 -52.2
     Consumer Electronics 4,262 2,628 -38.3
     Telecommunication 12,090 12,158 0.6
     Communication/Radar 7,643 6,379 -16.5
     Control Instrumentation 1,923 1,164 -39.5
     Medical/Industrial Instrumentation 1,149 797 -30.6
     Automotive Electronics 231 190 -17.6
2. Mineral fuels 177,175 116,361 -34.3
3. Machinery and mechanical appliances 49,872 50,155 0.6
4. Base metals 27,976 31,920 14.1
5. Transport equipment 147,938 102,088 -31.0
6. Textile yarns 10,225 9,934 -2.8
7. Electrical machinery 17,835 17,724 -0.6
8. Artificial resins 22,843 22,525 -1.4
9. Chemical products 14,159 14,055 -0.7
10. Cereals 15,484 18,448 19.1
11. Dairy Products 14,014 9,157 -34.7
12. Medical and Pharmaceutical products 14,281 16,570 16.0
13. Paper products 9,361 8,934 -4.6
14. Feedstuff 15,032 8,092 -46.2
15. Metalliferous ores and metal scrap 1,806 4,851 168.7
       
B. OTHERS 209,889 268,409 27.9

Notes:
*Starting 2011, Manufactured Products on Consignment Basis are not treated as imports of goods following the recommendation of the 2008 System of National Accounts (SNA), rather it is treated as exports of processing services under the Exports of Services. NSCB will back track the series as soon as the revised Balance of Payments (BOP) data for the years prior to 2011 are released by the Bangko Sentral Ng Pilipinas, reflecting its adoption of the Balance of Payments Manual 6 (BPM6). Hence, at present there is a break in the National Accounts for this item from 2010 backwards.
* Includes goods acquired under merchanting following the recommendation of the 2008 SNA. This item used to be part of Exports of Services
.

 

IMPORTS OF GOODS
1st Quarter 2014 and 1st Quarter 2015
AT CONSTANT 2000 PRICES, IN MILLION PESOS

ITEMS Q1 2014 Q1 2015 Growth Rate (%)
TOTAL IMPORTS OF GOODS 658,634 674,963 2.5
       
A. PRINCIPAL IMPORT GOODS 462,730 445,119 -3.8
       
 1. Electronics 118,415 127,826 7.9
     Components/Devices (Semiconductors) 73,818 86,582 17.3
     Electronic Data Processing 26,102 25,718 -1.5
     Office Equipment 781 380 -51.4
     Consumer Electronics 2,455 1,535 -37.5
     Telecommunication 6,087 6,233 2.4
     Communication/Radar 7,078 6,016 -15.0
     Control Instrumentation 1,091 646 -40.8
     Medical/Industrial Instrumentation 888 622 -30.0
     Automotive Electronics 114 94 -17.8
2. Mineral fuels 43,638 57,876 32.6
3. Machinery and mechanical appliances 40,079 39,798 -0.7
4. Base metals 13,615 15,839 16.3
5. Transport equipment 139,504 94,129 -32.5
6. Textile yarns 21,810 22,274 2.1
7. Electrical machinery 19,920 19,874 -0.2
8. Artificial resins 19,412 20,086 3.5
9. Chemical products 6,926 7,688 11.0
10. Cereals 7,364 9,125 23.9
11. Dairy Products 6,599 4,142 -37.2
12. Medical and Pharmaceutical products 9,932 11,938 20.2
13. Paper products 8,925 8,722 -2.3
14. Feedstuff 5,720 3,533 -38.2
15. Metalliferous ores and metal scrap 873 2,271 160.0
       
B. OTHERS 195,904 229,844 17.3

Notes:
*Starting 2011, Manufactured Products on Consignment Basis are not treated as imports of goods following the recommendation of the 2008 System of National Accounts (SNA), rather it is treated as exports of processing services under the Exports of Services. NSCB will back track the series as soon as the revised Balance of Payments (BOP) data for the years prior to 2011 are released by the Bangko Sentral Ng Pilipinas, reflecting its adoption of the Balance of Payments Manual 6 (BPM6). Hence, at present there is a break in the National Accounts for this item from 2010 backwards.
* Includes goods acquired under merchanting following the recommendation of the 2008 SNA. This item used to be part of Exports of Services
.

 

IMPORTS OF GOODS
Annual 2013 and 2014
AT CURRENT AND CONSTANT 2000 PRICES, IN MILLION PESOS

ITEMS At Current Prices At Constant Prices
2013 2014 Growth Rate
(%)
2013 2014 Growth Rate
(%)
TOTAL IMPORTS OF GOODS 2,914,119 3,185,022 9.3 2,501,608 2,716,287 8.6
             
A. PRINCIPAL IMPORT GOODS 2,097,357 2,201,739 5.0 1,821,463 1,862,154 2.2
             
 1. Electronics 402,356 344,972 -14.3 741,933 628,631 -15.3
     Components/Devices (Semiconductors) 216,550 159,177 -26.5 496,403 378,628 -23.7
     Electronic Data Processing 75,571 74,370 -1.6 162,611 165,053 1.5
     Office Equipment 4,966 4,620 -7.0 3,578 3,165 -11.6
     Consumer Electronics 19,554 19,592 0.2 11,066 11,239 1.6
     Telecommunication 46,628 47,813 2.5 35,026 35,939 2.6
     Communication/Radar 25,153 26,303 4.6 21,809 23,998 10.0
     Control Instrumentation 8,600 7,433 -13.6 7,500 6,431 -14.2
     Medical/Industrial Instrumentation 4,636 4,655 0.4 3,505 3,549 1.3
     Automotive Electronics 699 1,010 44.5 436 629 44.5
2. Mineral fuels 608,779 641,573 5.4 196,598 210,298 7.0
3. Machinery and mechanical appliances 179,322 195,281 8.9 139,698 152,581 9.2
4. Base metals 91,369 112,783 23.4 50,856 64,713 27.2
5. Transport equipment 321,092 364,745 13.6 302,894 344,986 13.9
6. Textile yarns 38,365 38,892 1.4 51,576 63,084 22.3
7. Electrical machinery 57,564 65,005 12.9 70,464 79,488 12.8
8. Artificial resins 67,813 97,240 43.4 55,812 78,094 39.9
9. Chemical products 59,869 60,403 0.9 37,296 37,230 -0.2
10. Cereals 61,930 84,897 37.1 49,228 74,222 50.8
11. Dairy Products 40,555 44,241 9.1 18,819 20,000 6.3
12. Medical and Pharmaceutical products 48,120 48,096 -0.1 44,311 46,336 4.6
13. Paper products 33,398 37,628 12.7 33,311 35,168 5.6
14. Feedstuff 46,132 57,490 24.6 17,215 24,792 44.0
15. Metalliferous ores and metal scrap 40,692 8,492 -79.1 11,452 2,530 -77.9
             
B. OTHERS 816,762 983,284 20.4 680,144 854,134 25.6

Source: Philippine Statistics Authority

Posted: 28 May 2015


 

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Updated 28 January 2016

Ver. 7.2014.234-11.04

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