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By Mayvelin U. Caraballo
The total external trade in goods of the Philippines for the first semester of 2012 reached $57.506 billion, a 3.6-percent increase from the $55.499 billion recorded in 2011, data from the National Statistics Office (NSO) showed over the weekend.
The NSO data said that total export receipts grew by 7.7 percent to $26.757 billion from $24.846 billion during the first semester of 2011.
Electronic products remain to be the top earner for the first semester of 2012 comprising 45.4 percent of the total exports, but with a decline of 3.9 percent from $12.638 billion to $12.145 billion in the same period.
Woodcrafts and furniture ranked second with receipts of $977.16 million, and articles of apparel and clothing accessories at third with $921.07 million.
Rounding up the list of top 10 exports for the first semester in 2012 were ignition wiring sets and other wiring sets used in vehicles, aircrafts and ships (consisting only of electrical wiring harness for motor vehicles), with export receipts of $709 million; metal components with sales amounting to $642.73 million; coconut oil (includes crude and refined) with an export value of $536.82 million; gold, worth $274.49 million; bananas (fresh), $271.83 million; other products manufactured from materials imported on consignment basis, worth $236.35 million; and petroleum products (includes refined petroleum products, manufactures from crude petroleum oil imported on consignment basis) with proceeds billed at $208.82 million.
Total imports
Meanwhile, NSO data noted that total imports in first semester of 2012 recorded a 0.3-percent growth to $30.749 billion from $30.653 billion during the same period in 2011.
Electronic products, accounting for 26.8 percent of the total import bill, posted a decline of 17 percent from $9.939 billion in 2011 to $8.253 billion in the first semester of the current year.
Mineral fuels, lubricants and related materials ranked second with $7.028 billion, and transport equipment at third, with $2.310 billion, reflecting the highest year-on-year change among the top 10 imports in first semester.
Rounding up the list for the top 10 imports for the first semester of 2012 were industrial machinery and equipment with $1.560-billion worth of imports; plastics in primary and non-primary forms, worth $834.84 million; organic and inorganic chemicals amounting to $785.09 million; cereals and cereal preparations, $710.12 million; iron and steel, $707.49 million; telecommunication equipment and electrical machinery, $626.04 million; and medicinal and pharmaceutical products, $458.37 million.