Trade deficit at $5.74B in January 2023: PSA DOE encourages consumers to save power for summer

Department of Energy (DOE) Raphael Lotilla has urged Filipinos to observe efficient use of electricity to help ensure the availability of sufficient power in preparation for the dry season when higher temperature triggers increase in demand.

On the sidelines of Makati Business Club’s event in Makati City Monday, Lotilla told reporters that based on the available supply and the scheduled maintenance of different power generation plants, yellow alerts are expected especially during the dry season.

Based on DOE’s power outlook for the year, the first yellow alert is expected to occur in week 11 in March, which is this week in Luzon grid.

Data from the National Grid Corporation of the Philippines (NGCP) showed that for March 14, the Luzon grid will have operating margin of 4,012 megawatts (MW), 354 MW for the Visayas grid and 801 MW for the Mindanao grid.

ThePhilippines opened the year with a wider trade deficit as exports recorded a bigger contraction than the growth in imports, government data released Tuesday revealed.

Lotilla said the current weather and temperature have helped in moderating power demand this week.

“We are already in March. Good thing is that temperature has also helped and in April, we expect some weekly rainy days, that will help manage temperature,” he added.

Lotilla said that for every 1-degree Celsius increase in temperature, demand also goes up by around 100 MW of additional power.

Yellow alerts, or the thinning of power supply but with no rotational brownouts, are also expected in the Luzon grid in months of April, May, June, September, October and November, according to the DOE outlook.

“We would like to have everyone manage their demand,” the energy chief said.

Lotilla cited some practices in managing power demand, such as avoiding the use of electricity during peak hours which are between 11 a.m. to noon,

Preliminary data from the Philippine Statistics Authority (PSA) showed that the balance of trade in goods (BoT-G) posted a $5.738-billion deficit, wider than the $4.503-billion deficit in December and the $4.513-billion deficit in January 2022.

This is the biggest trade deficit in six months, since the country recorded a $6.430-billion deficit in August 2022.

A trade deficit indicates that the country imported more than it shipped out goods during a period, while a surplus indicates that the country exported more than it brought in goods from other countries.

Exports for the month stood at $5.231 billion, lower than the $5.799 billion in December, and 13.5% less than the $6.045 billion recorded in the same month of 2022.

In terms of export receipts, six commodity groups recorded annual decreases, with coconut oil down by 39.1%, cathodes by 39.0%, metal components by 19.8%, electronic products by 19.2%, chemicals by 14.6%, and other manufactured goods by 11.9%.

Growths were seen in the exports of other mineral products up by 41.2%, gold by 29.3%, machinery and transport equipment by 20.7%, and ignition wiring sets by 15.0%.

FTRADE, P10