Date:
May 2003
Trade Figures Look Optimistic
Strong
import growth in March 2003 has again fueled
hopes of export recovery since the local semiconductor
industry accounted for 46.4% of all imports
during the month. Compared to March 2002,
imports increased by 11.4% while exports the
same month grew by 8.8%. The trade gap (imports
minus exports) widened from P234 million last
year to P324 million this year although, if
the experts are correct, this will be more
than compensated for down the track with higher
value-added exports.
 |
|
March 2003 Trade Figures
|
|
2003
|
Exports
|
3.10
|
|
Imports
|
3.42
|
|
Surplus
|
-0.32
|
|
2002
|
Exports
|
2.85
|
|
Imports
|
3.07
|
|
Surplus
|
-0.22
|
|
Change
|
Exports
|
9%
|
|
Imports
|
11%
|
|
Surplus
|
45%
|
|
|
|
For
the first quarter as a whole, the country’s
trade balance fell by 204% - from a surplus
of P626 million in 1Q 2002 to a deficit of
P650 million for 1Q 2003. According to the
National Economic and Development Authority
(NEDA) the outlook for enhanced downstream
export performance is good since the composition
of imports shows a strong bias towards capital
goods as well as raw materials and intermediaries.
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