October 3, 2021 | 12:00am
MANILA, Philippines — Collection of the Bureau of Customs (BOC) reached a record high of almost P60 billion in September due largely to the gradual recovery of global trade.
The BOC said its collection reached P59.9 billion in September, beating by more than five percent its P56.9-billion target for the month.
Aside from posting record revenue, the September performance marked the ninth straight month that the BOC exceeded its collection goal.
The BOC said eight of the 17 ports nationwide surpassed their respective targets for September. These ports are: Limay, Manila, San Fernando, Zamboanga, Davao, Iloilo, Legaspi and Clark.
For the nine-month period, the BOC collected P472.2 billion, accounting for nearly 77 percent of its 2021 revenue goal of P616.74 billion. Last year, revenue declined by about 15 percent to P537.68 billion from P630.31 billion in 2019.
Customs Commissioner Rey Leonardo Guerrero said the agency improved its collection efforts and adjusted its valuation systems to account for the escalating volume of imports.
Likewise, Guerrero said the BOC made sure that goods coming in and out of the Philippines move without disruption despite the logistical regulations in place.
As countries begin to lift border restrictions, commercial activities worldwide start to gain traction as shown by the trade data for the year.
In July, the country’s merchandise trade increased by over 19 percent to $16.13 billion, from $13.53 billion a year ago. Exports went up by close to 13 percent to $6.42 billion, while imports rose by at least 24 percent to $9.71 billion.
From January to July, exports jumped by around 20 percent to $42.39 billion from $35.4 billion a year ago. Electronics, the country’s largest exports, grew by more than 17 percent to $23.95 billion.
On the other hand, imports expanded by over 30 percent to $63.7 billion from $48.91 billion as the country’s trading partners boost their outputs to exploit the lifting of border controls.
