NSCB - 1st Quarter 2009 National Accounts - Imports of Goods and Services

First Quarter 2009
Gross National Product &
Gross Domestic Product by Expenditure Shares

Merchandise Imports pull down Total Imports

Total imports further contracted to negative 19.2 percent from negative 2.6 percent in the previous year, largely attributed to the lackluster performance of merchandise imports.

Merchandise Imports continue its downtrend

Total Merchandise Imports slipped further to negative 22.6 percent in the first quarter of 2009 from last year’s decline of negative 3.4 percent. All sub sectors of the sector dipped further to negative with Principal Merchandise Imports registering the biggest decline with negative 25.2 percent from negative 3.7 percent last year, Imports on Consignment, negative 36.5 percent from previous year’s negative 16.5 percent, and import commodities grouped under Others, negative 16.2 percent from negative 0.8 percent.

The overall performance of Merchandise Imports was pulled down by declines registered by Electrical Machinery, Apparatus and Appliances, declining further by 42.3 percent from negative 5.5 percent; Mineral Fuels, Lubricant and related Materials, negative 25.6 percent from a growth of 10.0 percent; Machinery Other than Electrical Machinery, negative 21.9 percent from negative 15.5 percent; Dairy Products, negative 46.8 percent from a growth of 41.6 percent; and, Base Metals, negative 35.6 percent from negative 10.1 percent.

The two contributors to the growth among the Principal Merchandise Imports were Cereal & Cereal Products, which posted a slower growth of 63.0 percent from 83.9 percent and Manufactures of Metals with a turn around growth of 21.2 percent from negative 42.6 percent.

Imports of Non-Factor Services accelerates

Imports of non-factor services grew by 18.9 percent in the first quarter of 2009 from 7.7 percent in 2008. Growth was boosted by: Miscellaneous Services which rebounded to 66.7 percent from negative 9.0 percent and Government which grew by 2.3 percent from 61.7 percent.

Meanwhile, the following sub sectors suffered reversal and pulled down the growth of Imports of Non Factors Services: Transportation, negative 3.2 from 28.4 percent; Travel, 10.8 percent to negative 0.6 percent; and, Insurance, 2.9 percent to negative 38.1 percent.

TOP TEN MERCHANDISE IMPORTS
1st Quarter 2008 and 1st Quarter 2009
CIF Value in million pesos

At Constant 1985 Prices

ITEMS	1st Qtr 2008	1st Qtr 2009	Growth Rate (%)
1. Mineral fuels,lubricantsand related materials	16,031	11,935	-25.6
2. Machinery other than electrical machinery	10,072	7,867	-21.9
3. Base metals	3,585	2,311	-35.6
4. Electrical machinery, apparatus & appliances	22,468	12,970	-42.3
5. Cereals & cereal prods	2,513	4,096	63.0
6. Transport equipment	4,301	3,604	-16.2
7. Chemical elements and compounds	3,876	3,134	-19.1
8. Manufactures of metals	1,608	1,948	21.2
9. Textile yarns	4,674	4,542	-2.8
10. Artificial resins and plastic materials	2,267	1,453	-35.9

At Current Prices

ITEMS	1st Qtr 2008	1st Qtr 2009	Growth Rate (%)
1. Mineral fuels,lubricants and related materials	128,086	69,456	-45.8
2. Machinery other than electrical machinery	59,236	45,717	-22.8
3. Base metals	20,329	14,924	-26.6
4. Electrical machinery, apparatus & appliances	105,692	69,531	-34.2
5. Cereals & cereal products	18,474	28,278	53.1
6. Transport equipment	27,407	26,562	-3.1
7. Chemical elements and compounds	14,151	13,296	-6.0
8. Manufactures of metals	3,931	5,462	39.0
9. Textile yarns	7,338	6,331	-13.7
10. Artificial resins and plastic materials	12,896	8,966	-30.5

IMPORTS OF GOODS AND SERVICES
1st Quarter 2007 and 1st Quarter 2008
CIF Value in million pesos

I T E M S	At Current Prices			At Constant 1985 Prices
I T E M S	1st Qtr 2008	1st Qtr 2009	Growth Rate (%)	1st Qtr 2008	1st Qtr 2009	Growth Rate (%)
Imports	676,591	530,951	-21.5	145,212	117,402	-19.2
A. Merchandise Imports	630,178	460,286	-27.0	133,067	102,956	-22.6
B. Non-Factor Services	46,413	70,665	52.3	12,145	14,446	18.9

IMPORTS OF GOODS AND SERVICES
Annual 2008 and 2007
CIF Value in million pesos

I T E M S	At Current Prices			At Constant 1985 Prices
I T E M S	2007	2008	Growth Rate (%)	2007	2008	Growth Rate (%)
Imports	2,810,171	2,872,572	2.2	628,562	643,572	2.4
A. Merchandise Imports	2,616,992	2,658,458	1.6	583,505	593,394	1.7
B. Non-Factor Services	193,179	214,114	10.8	45,056	50,178	11.4

Source: National Statistical Coordination Board (NSCB)

Posted 28 May 2009


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