Globalization and International Trading (Import/Export)

[jpdm]

RP ships 30% more goods to Japan as of May ’10

By Abigail L. Ho
Philippine Daily Inquirer
First Posted 19:46:00 07/04/2010

Filed Under: business, Economy and Business and Finance, Trade (general), Investments

THE PHILIPPINES’ exports to Japan jumped 29.9 percent in the first five months of the year, to more than $3 billion from $2.3 billion in the same period last year.

According to the Japan External Trade Organization, the country accounted for 1.1 percent of total Japanese imports during the period.

In May alone, the value of goods shipped from the Philippines to Japan reached $706.6 million, up 43.6 percent from the previous year’s $474.3 million.

The country’s imports from Japan, on the other hand, surged 66.8 percent as of end-May to almost $4.4 billion, from only $2.6 billion in the same period last year.

Japanese exports to the country in May alone spiked 56.1 percent, from $572.3 million in the same month in 2009 to $893.3 million.

The Philippines received 1.5 percent of total Japanese exports as of end-May.

In the January-May period, Japan enjoyed a surplus of more than $1.3 billion in its trade with the Philippines, a huge jump from the $324.9-million surplus registered in the same period last year.

Trade between the two countries slumped almost of all last year, registering declines month after month, before picking up toward the end of the year and continuing its recovery this year.

The government is banking on the Japan-Philippines Economic Partnership Agreement (Jpepa) to further boost trade between the two countries, particularly Philippine exports to Japan.

Under the Jpepa, around 95 percent of Philippine exports to Japan will have zero duties.

Tariffs on most industrial exports will likewise be reduced to nil after 10 years of the effectivity of the agreement.

[b_two]

kakatuwa naman yan. export tayo ng saging, mangga sa japan tapos import tayo ng kotse, truck mula sa kanila.

[april boy]

Customs notes ‘disturbing’ collection shortfall at MICP, Limay amid import surge

Saturday, 10 July 2010 00:00
BY KATRINA MENNEN A. VALDEZ REPORTER
Manila Times

The Bureau of Customs (BOC) said it would look into the ports that failed to meet their collection targets amid a recovering imports sector and the country’s better-than-expected economic expansion. “I am quite disturbed. How come the two largest ports in the country failed to meet their respective tax collection targets considering that the imports sector is shooting up?” Customs Commissioner Angelito Alvarez said in a phone interview.

The previous administration reported collecting a surplus of P7.4 billion for the first six months.

But Manila International Container Port (MICP)—one of the country’s biggest—and the oil port of Limay failed to hit their respective targets for the period by P432 million and P1.1 billion, respectively.

The ports of Cagayan de Oro, Zamboanga and Clark Field also failed to meet their first-half targets.

Cagayan de Oro missed its goal of P1.82 billion by P272 million, while Zamboanga barely reached half of its P19 million goal as it collected only P7.9 million for the first semester. Clark collected P4 million less than its P395-million target for the period.

“Those ports that are not performing will be closely monitored and be given the assistance to shape up.
However, in the event that—despite all these have already been in place—[those] ports would still fail to meet their respective targets, then the collectors for the subject ports would have to be removed,” Alvarez said.

The monitoring will be conducted by a team comprised of ranking officers of BOC, who would watch over each port and their tax collections every day.

Alvarez said he would meet with the team next week.

The Customs chief said that each underperforming port would be placed under probation for a month.

“In the course of one month, after missing or likely missing their monthly targets, we would likewise investigate whether there are irregularities among the collectors and agents,” he said.

“[But] I have to give them the benefit of the doubt. Maybe, they [collectors] are just misguided. That’s why they are given one month to improve,” he said.

The ports that are performing well, on the other hand, would be recognized and given rewards, he added.

BOC’s full-year collection target has been revised to P280 billion, of which P160 billion would have to be raised in the final six months of 2010.

[RonnieR]

fr ralfy

Originally Posted by ralfy

Re: GDP "growth," from what I know, 70 pct of it is based on consumer spending, which means there's actually no growth. It's best to check balance of trade to see how we're doing. In relation to that,

"The crash of the leading indicators"

http://www.dailykos.com/story/2010/7...ing-indicators

[Ephesus29]

Originally Posted by jpdm

China nga hindi nabili ng technology. Rampant ang pag-pirate ng mga Chinese companies ng mga techonogy from rival companies.


Ex. Yung Chery QQ kamukhang kamukha nuong Chevrolet model. Gayang gaya.

Yung Geely na kotse ginaya yung kotse ng Daihatsu.

Tayo nagawa na ng FMC Anfra at even our jeepney.Konting improvement lang sa design at engineering aspect may panlaban na tayo.

Actually ang jeepney natin iconic puede namang magproduce ng aerodynatic and modern jeep at gawing parang British black taxi.

I totally agree with you bro...jeepney no doubt is an icon for Pinoys. If the government would spend time and money in developing our product (JEEPNEY) that is, Philippines could be in a better position in terms of transportation manufacturing. Philippines has thousands of bankable and extremely well educated graduates every year. The government should come up a workable strategy to utilize those skilled and talented human resources the country has. Same talents given the opportunity to shine..they could take the country in upper gear of economic competetiveness with the rest of the Asian nations.

The problem is....some politicians would rather take care the families' treasurer chest rather looking after the people.

That's probalby why some real estate investors (apartment block) in North American cities are prominent politicians and their cronies.

[Ephesus29]

Originally Posted by Ady001

Pwede din, gawing ganito:





Ingenious din ang design ng jeepney natin eh. for example, instead of individualized seats, we use only elongated ones. Menos gastos na sa space, menos gastos pa sa seating.

Oh absolutely

[april boy]

very nice!

[RonnieR]

Calling the Moderators: Do we need this separate thread for import/export?

Philippine Exports Rose for an Eighth Month in June on Electronics Demand
By Karl Lester M. Yap and Cecilia Yap - Aug 10, 2010 9:27 AM GMT+0800

Philippine exports gained for an eighth month in June as demand for electronics rose, helping President Benigno Aquino’s efforts to boost economic growth.

Shipments abroad increased 33.4 percent from a year earlier to $4.55 billion after climbing 37.3 percent in May, the National Statistics Office said in Manila today. That compares with the median forecast for a 25 percent gain in a Bloomberg News survey of 11 economists.

Asia is leading the world’s recovery from last year’s slump as exports of Philippine-made Texas Instruments Inc. semiconductors and South Korea-produced Hyundai Motor Co. cars rebound. Aquino, who took office in June, plans to expand the $160 billion economy by 7 percent to 8 percent every year from 2011 to cut poverty.

“There is a noticeable trend of Asian exports veering away from Europe and the U.S. and focusing more on intra-regional trade,” Arthur Michael de Castro, an analyst at Bank of the Philippine Islands in Manila, said before the report. “There is still room for some growth as demand should still be strong.”

Exports account for about a third of the Philippine economy. South Korea’s exports rose 29.6 percent in July from a year earlier, and Malaysia’s overseas sales rose 17.2 percent in June.

To contact the reporters on this story: Karl Lester M. Yap in Manila at kyap5@bloomberg.net.
http://www.bloomberg.com/news/2010-0...cs-demand.html

[april boy]

BoI plans additional incentives to car assemblers


by Julito G. Rada
Manila Standard
August 11, 2010

The Board of Investments plans to give additional incentives to local car assemblers to increase production and eventually encourage them to export, a Trade Department official said Tuesday.

“What we are studying right now is how to improve the export volume, what is needed to support that and what incentives we can give to local car assemblers. Right now, it is all for domestic consumption, except Ford,” Trade Undersecretary and BoI managing head Cristino Panlilio said.

Ford Philippines has been exporting to member-countries of the Association of Southeast Asian Nations since 2002. The company ships out the Focus and Escape models, along with Mazda 3. The exports account for roughly half of Ford’s local production.

Panlilio said the current tax holidays and the preferential duty of 1 percent enjoyed by local manufacturers and 20-percent to 30-percent tariffs imposed on importers appeared to be fit.

But he said granting additional perks to local car assemblers would prompted to increase production and make them competitive with neighboring countries in the region.

“There may possibly be another subsection in the IRR [implementing rules and guidelines] of EO 877-A that may contain the additional incentives. That is why it would be hard for us to meet the Aug. 30 deadline for the IRR to be completed,” he said. He added the enhanced version of the executive order might entail congressional approval.

Former Trade undersecretary Elmer Hernandez said local car assemblers should not rely too much on the domestic market and should be encouraged to export.

“That is why [the rules] for an export program should be drafted so that these local car assemblers will be motivated to look out of the country,” Hernandez has said.

He said reducing the perks on those that limit their production to the domestic market should also be considered.

[amigo32]

I hope it's not too late baka pag gising nga mga nasa kongreso ay lumipat na sa Thailand lahat ng assembly/manufacturing ng Ford.

[RonnieR]

China's position in global economy...world's second biggest.

China overtakes Japan in 2Q as No. 2 economy
(philstar.com) Updated August 16, 2010 03:40 PM Comments (0) View comments

TOKYO (AP) – Japan lost its place as the world's No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery.

Gross domestic product grew at an annualized rate of just 0.4 percent, the government said Monday, far below the annualized 4.4 percent expansion in the first quarter and adding to evidence the global recovery is facing strong headwinds.

The figures underscore China's emergence as an economic power that is changing everything from the global balance of military and financial power to how cars are designed. It is already the biggest exporter, auto buyer and steel producer, and its global influence is expanding.

China has been a major force behind the world's emergence from deep recession, delivering much-needed juice to the US, Japan and Europe. Tokyo's latest numbers, however, suggest that Chinese demand alone may not be enough for Japan or other economic giants.

"Japan is the canary in the goldmine because it depends very much on demand in Asia and China, and this demand is cooling quite a bit," said Martin Schulz, senior economist at Fujitsu Research Institute in Tokyo. "This is a warning sign for all major economies that just focusing on overseas demand won't be sufficient."

China has surpassed Japan in quarterly GDP figures before, but this time it's unlikely to relinquish the lead.

China's economy will almost certainly be bigger than Japan's at the end of 2010 because of the huge difference in each country's growth rates. China is growing at about 10 percent a year, while Japan's economy is forecast to grow between 2 to 3 percent this year. The gap between the size of the two economies at the end of last year was already narrow.

Japan's nominal GDP, which isn't adjusted for price and seasonal variations, was worth $1.286 trillion in the April-to-June quarter compared with $1.335 trillion for China. The figures are converted into dollars based on an average exchange rate for the quarter.

Japan has held the No. 2 spot after the US since 1968, when it overtook West Germany. From the ashes of World War II, the country rose to become a global manufacturing and financial powerhouse. But its so-called "economic miracle" turned into a massive real estate bubble in the 1980s before imploding in 1991.

What followed was a decade of stagnant growth and economic malaise from which the country never really recovered. Prime Minister Naoto Kan now faces a long list of daunting problems: a rapidly aging and shrinking population, persistently weak domestic demand, deflation, a strong yen and slowing growth in key export markets.

In contrast, China's growth has been spectacular, its voracious appetite fueling demand for resources, machinery and products from the developing world as well as rich economies like Japan and Australia. China is Japan's top trading partner.

China's rise has produced glaring contradictions. The wealth gap between an elite who profited most from three decades of reform and its poor majority is so extreme that China has dozens of billionaires while average income for the rest of its 1.3 billion people is among the world's lowest.

Japan's people still are among the world's richest, with a per capita income of $37,800 last year, compared with China's $3,600. So are Americans at $42,240, their economy still by far the biggest.

"We should be concerned about per capita GDP," said Kyohei Morita, chief economist at Barclays Capital in Tokyo. China overtaking Japan "is just symbolic," he said. "It's nothing more than that."

But the symbolism may be exactly the "wake-up call" Japanese leaders need, said Schulz of the Fujitsu Research Institute. "Japan is always strangely inward looking," he said. "And nobody is doing anything about it."

Japan's people appear resigned to the power shift. A national poll conducted earlier this year by the Asahi, one of Japan's biggest newspapers, showed a roughly equal split between those that believed Japan's fall to No. 3 posed a major problem and those who did not. More than half of the 2,347 respondents said Japan does not need to be a global superpower.

The country's annualized growth in the second quarter was also sharply below expectations of 2.3 percent in a Kyodo news agency survey of analysts. On a quarterly basis, Japan's GDP — or the total value of the nation's goods and services — grew 0.1 percent from the January-March period, the Cabinet Office said.

Consumer spending, which accounts for about 60 percent of GDP, was flat from the previous quarter, the figures showed. Capital spending by companies rose 0.5 percent, while public investment fell 3.4 percent.

The outlook for the third quarter is uncertain. Private consumption appears to be solid so far, helped in part by unusually hot weather, said Masamichi Adachi, senior economist at JP Morgan Securities Japan. But the slowing global economy is weakening exports and production.

A stronger yen, which hit a 15-year high against the dollar last week, also poses a major risk for the country's export-driven economy. Yen appreciation reduces the value of repatriated profits for companies like Toyota Motor Corp. and Sony Corp. and makes their products more expensive abroad.

The currency worries led Finance Minister Yoshihiko Noda to say last week that he is closely monitoring foreign exchange rates. Bank of Japan Gov. Masaaki Shirakawa released a similar statement to try to calm markets.
http://www.philstar.com/Article.aspx...CategoryId=200

[Christendom]

uh hayan na,,,the sleeping dragon awakening--king of the east...

time will tell again...

[april boy]

The sleeping dragon has finally risen!!!


China overtakes Japan as world's No. 2 economy


(The Philippine Star)
Updated August 17, 2010 12:00 AM
Comments (0) View comments

TOKYO (AP) – Japan lost its place as the world’s No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery.

Gross domestic product grew at an annualized rate of just 0.4 percent, the government said Monday, far below the annualized 4.4 percent expansion in the first quarter and adding to evidence the global recovery is facing strong headwinds.

The figures underscore China’s emergence as an economic power that is changing everything from the global balance of military and financial power to how cars are designed. It is already the biggest exporter, auto buyer and steel producer, and its global influence is expanding.

China has been a major force behind the world’s emergence from deep recession, delivering much-needed juice to the US, Japan and Europe. Tokyo’s latest numbers, however, suggest that Chinese demand alone may not be enough for Japan or other economic giants.

“Japan is the canary in the goldmine because it depends very much on demand in Asia and China, and this demand is cooling quite a bit,” said Martin Schulz, senior economist at Fujitsu Research Institute in Tokyo. “This is a warning sign for all major economies that just focusing on overseas demand won’t be sufficient.”

China has surpassed Japan in quarterly GDP figures before, but this time it’s unlikely to relinquish the lead.

China’s economy will almost certainly be bigger than Japan’s at the end of 2010 because of the huge difference in each country’s growth rates. China is growing at about 10 percent a year, while Japan’s economy is forecast to grow between two to three percent this year. The gap between the size of the two economies at the end of last year was already narrow.

Japan’s nominal GDP, which isn’t adjusted for price and seasonal variations, was worth $1.286 trillion in the April-to-June quarter compared with $1.335 trillion for China. The figures are converted into dollars based on an average exchange rate for the quarter.

Japan has held the No. 2 spot after the US since 1968, when it overtook West Germany. From the ashes of World War II, the country rose to become a global manufacturing and financial powerhouse. But its so-called “economic miracle” turned into a massive real estate bubble in the 1980s before imploding in 1991.

What followed was a decade of stagnant growth and economic malaise from which the country never really recovered. Prime Minister Naoto Kan now faces a long list of daunting problems: a rapidly aging and shrinking population, persistently weak domestic demand, deflation, a strong yen and slowing growth in key export markets.

In contrast, China’s growth has been spectacular, its voracious appetite fueling demand for resources, machinery and products from the developing world as well as rich economies like Japan and Australia. China is Japan’s top trading partner.

China’s rise has produced glaring contradictions. The wealth gap between an elite who profited most from three decades of reform and its poor majority is so extreme that China has dozens of billionaires while average income for the rest of its 1.3 billion people is among the world’s lowest.

Japan’s people still are among the world’s richest, with a per capita income of $37,800 last year, compared with China’s $3,600. So are Americans at $42,240, their economy still by far the biggest.

“We should be concerned about per capita GDP,” said Kyohei Morita, chief economist at Barclays Capital in Tokyo. China overtaking Japan “is just symbolic,” he said. “It’s nothing more than that.”

But the symbolism may be exactly the “wake-up call” Japanese leaders need, said Schulz of the Fujitsu Research Institute. “Japan is always strangely inward looking,” he said. “And nobody is doing anything about it.”

Japan’s people appear resigned to the power shift. A national poll conducted earlier this year by the Asahi, one of Japan’s biggest newspapers, showed a roughly equal split between those that believed Japan’s fall to No. 3 posed a major problem and those who did not. More than half of the 2,347 respondents said Japan does not need to be a global superpower.

The country’s annualized growth in the second quarter was also sharply below expectations of 2.3 percent in a Kyodo news agency survey of analysts. On a quarterly basis, Japan’s GDP – or the total value of the nation’s goods and services - grew 0.1 percent from the January-March period, the Cabinet Office said.

Consumer spending, which accounts for about 60 percent of GDP, was flat from the previous quarter, the figures showed. Capital spending by companies rose 0.5 percent, while public investment fell 3.4 percent.

The outlook for the third quarter is uncertain. Private consumption appears to be solid so far, helped in part by unusually hot weather, said Masamichi Adachi, senior economist at JP Morgan Securities Japan. But the slowing global economy is weakening exports and production.

[Ady001]

What will Japan's 130 million do with 1 billion? Obviously it will succumb...

[Ephesus29]

Originally Posted by Ady001

What will Japan's 130 million do with 1 billion? Obviously it will succumb...

Absolutely...but what scares me most is China's military might, rather than its economic strenght.

[Christendom]

Originally Posted by Ephesus29

Absolutely...but what scares me most is China's military might, rather than its economic strenght.

it will reach to 200-million man armies together w/ india...

[amigo32]

Originally Posted by Ady001

What will Japan's 130 million do with 1 billion? Obviously it will succumb...

mas matatalino namn ang utak ng 130m.

[kenken94]

Nanaginip lang ng gising ang China kung iniisip nila na napakayaman na ng mga Tsino dahil lang nalagpasan nila ang Japan. Mas magiging matimbang parin ang perang tinitanggap nga bawat indibidwal and China's per capita income is just around 5000 Dollars lang. Compare it with Japan which is already a high income country.

Much more if they think they can surpass America's $45,000 individual income. Not even within 50 years. The national economy though, is fueled by 1.8 Billion consumers whom we can't say has the capability to spend.

The quality of their products would reflect their status as an advanced economy. So far, China's products are of low quality as they are more inclined with QUANTITY rather than QUALITY as reflected by many news of poisoning and health issues experienced by users from China and even the U.S.

[Simple Dude]

correction,... China has 2 billion people po hehe =)

[epik ll ian]

Originally Posted by Ephesus29

Absolutely...but what scares me most is China's military might, rather than its economic strength.

I think both are equally scary.
They have a lot more man power, and already a lot of labor is going to China instead of RP.