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

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

Imports boosted by Non-Factor Services

Total imports grew by 1.2 percent from 5.8 percent in the previous year, boosted by the favorable performance of Non-Factor Services.

Merchandise Imports decelerates!

Total Merchandise Imports recorded a decelerated growth of 1.0 percent in the fourth quarter of 2005 from last year’s 6.5 percent growth. Growth came from “Others,” which rose to 8.9 percent from 21.2 percent and by “Imports on consignment,” which bounced back to 6.1 percent from a negative growth of 9.9 percent.

The top five Merchandise Imports were: Transport Equipment, which grew by 36.5 percent from 4.2 percent; Electrical machinery, apparatus and appliances, which gained 2.9 percent from a negative growth of 0.3 percent; Cereals and cereal products, up by 11.7 percent from negative 31.5 percent; Textile yarns, up by 5.4 percent from 7.5 percent ; and Machinery other than electrical machinery, up by 1.4 percent from negative 6.4 percent.

This, however, was offset by declines experienced by: Mineral fuels, lubricants and related materials, which fell to negative 20.0 percent from 17.8 percent; Base metals, with negative 15.6 percent from negative 23.8 percent; Dairy products, with negative 28.4 percent from 59.6 percent in the previous year; Textile fibers, negative 22.3 percent from 20.2 percent; and Fertilizer manufacturing, which slipped to negative 20.6 percent from 20.3 percent.

Import of Non-Factor Services grows!

Imports of non-factor services recovered by 3.8 percent in the fourth quarter of 2005 from a negative growth of 4.2 percent in 2004, pulled up by the increase in two of its sub-sectors: Travel Services, which grew by 33.7 percent from a negative 7.6 percent; and Other transportation, which went up by 5.7 percent from negative 24.0 percent.

The rest of its sub-sectors posted declines: Insurance, negative 64.5 percent from 34.1 percent in 2004; Miscellaneous services, negative 14.6 percent from 10.5 percent; and Government, negative 6.5 percent from negative 28.1 percent.

TOP TEN MERCHANDISE IMPORTS
4th Quarter 2005 and 4th Quarter 2004
AT CONSTANT 1985 PRICES, IN MILLION PESOS

ITEMS	4th Qtr 2005	4th Qtr 2004	Growth Rate (%)
1. Electrical machinery, apparatus & appliances	24,339	23,657	2.9
2. Machinery other than electrical machinery	17,049	16,813	1.4
3. Mineral fuels,lubricants and related materials	13,965	17,454	-20.0
4. Textile yarns	5,128	4,864	5.4
5. Chemical Elements and compounds	4,798	4,717	1.7
6. Base Metals	4,775	5,655	-15.6
6. Transport equipment	4,368	3,200	36.5
7. Cereals and cereal prods	2,857	2,559	11.7
8. Feeding stuff	2,331	2,204	5.8
10. Artificial resins and plastic meterials	2,127	2,207	-3.6

IMPORTS OF GOODS AND SERVICES
4th Quarter 2005 and 4th Quarter 2004
AT CONSTANT 1985 PRICES, IN MILLION PESOS

I T E M S	4th Qtr 2005	4th Qtr 2004	Growth Rate (%)
Total Imports	158,518	156,667	1.2
Total Merchandise Imports	148,822	147,329	1.0
Non-Factor Services	9,696	9,338	3.8

Source: National Statistical Coordination Board (NSCB)

Posted 30 January 2006.