The Philippines top ten trading partners for the first semester of 2011 posted a total trade value of $41.570 billion or 75.2 percent of the total. This comprised a total export receipt of $20.241 billion or 81.8 percent of the total exports and total import bill of $21.329 billion or 69.9 percent of the total imports.
Japan was the country’s top trading partner in the first semester of 2011, accounting for a total trade worth $7.285 billion or 13.2 percent of the country’s total trade. Exports to Japan totaled $4.290 billion while imports were valued at $2.995 billion, posting a trade surplus of $1.296 billion (Table 4). Electronic Products got a large share of 42.3 percent of the total exports valued at $1.813 billion, followed by Woodcraft and Furniture at $760.09 million or 17.7 percent share of the total exports. Majority of the imported products from Japan were Electronic Products billed at $1.135 billion or 37.9 percent of the total imports and Industrial Machinery and Equipment with $369.77 million or 12.3 percent share of the total imports (Tables 5 and 6).
USA followed the country’s second largest trading partner in the first semester of 2011 with total trade worth $7.121 billion or 12.9 percent of the total trade. Export receipts from USA stood at $3.668 billion while payments for imports were valued at $3.452 billion, resulting to $215.98 million trade surplus (Table 4). The biggest receipt came from Electronic Products at $1.384 billion or 37.7 percent of the country’s exports to USA. Articles of Apparel and Clothing Accessories followed with total receipts of $639.32 million or 17.4 percent of the total exports to the country. Imported goods purchased from USA consisted of Electronic Products worth $2.018 billion or 58.4 percent of the country’s total imports. Cereals and Cereal Preparations second highest imports from USA with $226.16 million or a share of 6.6 percent (Tables 5 and 6).
People’s Republic of China came third accounting for $5.751 billion or 10.4 percent of the total trade in the first semester of 2011. Receipts from exports to China were valued at $2.898 billion while payment for imports totaled to $2.853 billion, reflecting a trade surplus of $45.58 million (Table 4). The bulk of exports came from Electronic Products worth $1.950 billion or 67.3 percent of the total exports to the country and from Cathodes and Sections of Cathodes of Refined Copper with $127.54 million or 4.4 percent share. Major imports from China were Electronic Products with purchases worth $674.73 million or 23.7 percent of the total; Iron and Steel valued at $204.84 million or 7.2 percent of the total; and Industrial Machinery and Equipment with payments with $193.20 million or 6.8 percent of the total (Tables 5 and 6).
Singapore emerged as the fourth largest trading partner of the country for the first semester of 2011 with a total trade amounting to $5.305 billion or a share of 9.6 percent to total trade. Registered export receipts were valued at $2.588 billion while import bill reached $2.717 billion, resulting to a trade deficit of $128.28 million (Table 4). Electronic Products and Petroleum Products were the country’s major exports to Singapore with earnings of $1.921 billion or 74.2 percent share and $281.74 million or 10.9 percent of the total exports, respectively. Similarly, Electronic Products with import bill of $1.206 billion or 44.4 percent share, and Mineral Fuels, Lubricants and Related Materials worth $711.91 million or 26.2 percent share were the major imports from Singapore (Tables 5 and 6). - https://www.affordablecebu.com/