NSCB - Third Quarter 2005 GNP - Imports of Goods and Services

Third Quarter 2005
Gross National Product &
Gross Domestic Product by Expenditure Shares

Imports

Total imports expanded to 7.5 percent from 6.6 percent in the previous year, boosted by the favorable performance of Merchandise Imports.

Merchandise Imports

Total Merchandise Imports increased by 8.2 percent in the third quarter of 2005 from 6.1 percent in 2004, buoyed by Principal Merchandise Imports which rose to 10.0 percent from 2.7 percent; and “Others”, which grew by 4.4 percent from 15.2 percent.

The top five contributors to the growth of Merchandise Imports were: Electrical machinery, which grew by 9.7 percent from 4.9 percent; Machinery other than electrical, up by 13.2 percent from 2.8 percent; Feeding stuff, increase of 32.2 percent from 49.5 percent; Textile yarns, up by 19.1 percent from 20.2 percent; and Cereals and cereal products, which accelerated to 25.8 percent from 12.3 percent.

On the other hand, the following dragged the growth of Merchandise Imports: Dairy products, which fell by 31.2 percent from negative 7.4 percent; Artificial resins, down by 8.6 percent from a growth of 5.9 percent; Textile fibers, dropped by 15.1 percent from a growth of 12.2 percent; and Paper products, which declined by 8.0 percent from a growth of 10.3 percent.

Imports of Non-Factor Services

Imports of non-factor services decreased by 3.6 percent in the third quarter of 2005 from 16.0 percent in 2004, pulled down by the decline in three of its subsectors: Insurance and Miscellaneous services, (which includes payments for royalties and business services), which slipped by 9.4 percent and 11.4 percent, respectively. Government likewise shrank to negative 35.5 percent.

On the other hand, Other transportation and communication bounced back to a growth of 9.4 percent, from negative 11.3 percent while Travel services, which include expenditures of resident travelers abroad expanded by 13.2 percent from 24.3 percent.

TOP TEN MERCHANDISE IMPORTS
3rd Quarter 2005 and 3rd Quarter 2004
AT CONSTANT 1985 PRICES, IN MILLION PESOS

ITEMS	3rd Qtr 2005	3rd Qtr 2004	Growth Rate (%)
1. Electrical machinery, apparatus & appliances	32,304	29,446	9.7
2. Mineral fuels,lubricants and related materials	17,325	16,324	6.1
3. Machinery other than electrical machinery	17,025	15,044	13.2
4. Textile yarns	6,693	5,618	19.1
5. Base Metals	5,549	5,288	4.9
6. Cereals & cereal products	5,237	4,164	25.8
7. Feeding stuff	4,801	3,632	32.2
8. Chemical elements and compounds	4,174	3,749	11.3
9. Transport equipment	3,221	2,559	25.9
10. Artificial resins and plastic meterials	2,215	2,425	-8.6

IMPORTS OF GOODS AND SERVICES
3rd Quarter 2005 and 3rd Quarter 2004
AT CONSTANT 1985 PRICES, IN MILLION PESOS

I T E M S	3rd Qtr 2005	3rdd Qtr 2004	Growth Rate (%)
Total Imports	164,340	152,810	7.5
Total Merchandise Imports	156,680	144,862	8.2
Non-Factor Services	7,660	7,948	-3.6

Source: National Statistical Coordination Board (NSCB)

Posted 29 November 2005.