Total external trade and balance of trade
Total external trade: Decreased by 6.3 percent in November 2024, amounting to $16.15 billion, down from $17.23 billion in the same month in 2023. Imports constituted 64.8 percent of the total while exports accounted for 35.2 percent
Trade deficit: Narrowed by 0.04 percent to -$4.767 billion in November 2024, from -$4.769 billion in the same month in 2023
Exports
Export sales: Declined by 8.7 percent year-on-year in November 2024 to $5.69 billion
Key declines:
Electronic products: -$729.38 million
Refined copper cathodes: -$98.5 million
Wiring sets: -$13.44 million
Year-to-date exports: Dropped by 0.4 percent to $67.55 billion (January-November 2024)
Top export commodities:
Electronic products: $2.79 billion (48.9 percent share)
Other manufactured goods: $420 million (7.4 percent share)
Machinery and transport equipment: $245.61 million (4.3 percent share)
Major export markets: USA (17 percent), Japan (16.1 percent), China (13.8 percent), Hong Kong (10.5 percent), and Singapore (5.1 percent)
Regional export shares:
APEC countries: $4.78 billion (84 percent)
East Asia: $2.72 billion (47.7 percent)
Imports
Import value: Declined by 4.9 percent year-on-year in November 2024 to $10.46 billion
Key declines:
Mineral fuels: -$421.88 million
Transport equipment: -$352.70 million
Miscellaneous manufactured articles: -$68.87 million
Year-to-date imports: Increased by 1.1 percent to $117.51 billion (January-November 2024)
Top import commodities:
Electronic products: $2.46 billion (23.5 percent share)
Mineral fuels: $1.31 billion (12.5 percent share)
Transport equipment: $819.93 million (7.8 percent share)
Major import markets: China (27 percent), Indonesia (8.4 percent), Japan (7.9 percent), South Korea (7.4 percent), and the USA (5.9 percent)
Regional import shares:
APEC countries: $8.93 billion (85.3 percent)
East Asia: $4.92 billion (47.1 percent)
