By Gabriela Baron
The Philippines’ total external trade in goods rose by 18.9% in the first semester of 2022, data from the Philippine Statistics Authority (PSA) showed.
According to PSA, the country’s total external trade in goods increased to $106.87 billion in the first semester of 2022, up from $89.90 billion in the same semester of 2021.
Of the total external trade, 64% were imported goods and the rest were exported goods.
Meanwhile, the country’s total export sales went up by 7.1%.
Of the top 10 major commodity groups, six recorded annual increases in terms of the value of exports, coconut oil (121.3%), other mineral products (41.2%), chemicals (9.7%), cathodes and sections of cathodes of refined copper (5%), electronic products (4.4%), and other manufactured goods (2.6%).
Electronic products continued to be the country’s top export in the first semester of 2022 with total learnings of $21.17 billion.
By major trading partner, the United States of America contributed the highest export value amounting to $5.94 billion or a share of 15.4% to the country’s total exports.
Also among the top major export trading partners of the Philippines were People’s Republic of China (14.5%), Japan (14.3%), Hong Kong (12.7%), and Singapore (6.6%).
