Philippines' total external trade in goods with the European Union (EU) for the first semester of 2011 grossed $5.371 billion or 9.7 percent of the country’s total trade. Exports to EU reached $3.035 billion or 12.3 percent of the total export receipts, while imports were valued at $2.337 billion or a 7.7 percent share to total imports, resulting to a balance of trade in goods (BOT-G) surplus of $697.96 million. Among the EU member-countries, Germany was RP’s top trading partner with a total trade of $1.634 billion or 30.4 percent of EU’s total trade. Receipts from exports to Germany totaled to $919.49 million while payment for imports was valued at $714.99 million or a trade surplus of $204.50 million (Table 7).
Top imports from the EU member-countries for the first semester in 2011 were Electronic Products, $988.81 million; Industrial Machinery and Equipment, $233.83 million; Medicinal and Pharmaceutical Products, $211.24 million; Transport Equipment, $94.12 million; and Paper and Paper Products, $68.48 million (Table 9).
ASEAN TOTAL TRADE STANDS AT $12.344 BILLION
Total external trade in goods with ASEAN member-countries for the first semester of 2011 amounted to $12.344 billion or 22.3 percent of the country’s entire trade. Exports to ASEAN member-countries were valued at $4.793 billion while imports were worth $7.551 billion, generating a trade deficit of $2.758 billion. Singapore emerged as the country’s top trading partner among the ASEAN member-countries with a total trade accounting for $5.305 billion or 43.0 percent share of the ASEAN total trade. Exports to Singapore registered a total of $2.588 billion while imports payment was $2.717 billion, which resulted to a trade deficit of $128.28 million (Table 7).
Leading exports for the ASEAN member-countries for the first semester in 2011 were Electronic Products, $2.532 billion; Petroleum Products, $298.82 million; Cathodes and Sections of Cathodes of Refined Copper, $298.71 million; Metal Components, $151.27 million; and Fertilizers Manufactured, $81.47 million (Table 8).
Top imports from the ASEAN member-countries for the first semester in 2011 were Electronic Products, $2.319 billion; Mineral Fuels, Lubricants and Related Materials, $1.356 billion; Transport Equipment, $670.53 million; Plastics in Primary and Non-Primary Forms, $322.12 million; and Cereals and Cereal Preparations, $257.50 million (Table 9). - https://www.affordablecebu.com/