Imports continue huge decline in September
11/25/2009 | 10:58 AM
Philippine imports dropped by a fourth in September but posted a marginal growth compared to the previous month's, the government reported on Wednesday.
The National Statistics Office said the country's imports bill slipped 25 percent to about $3.67 billion compared to the $4.89 billion that the country paid in the same month in 2008.
However, the latest figure showed a growth of 1.5 percent from August's 28.3-percent decline.
The September figure also brought the country's nine-month imports bill for the year at $31.677 billion or a 30.2-percent dip from last year's $45.383 billion.
Electronic products, which accounted for 36.3 percent of the total import bill, slid 22.1 percent year-on-year but improved 2.2 percent on a month-on-month basis.
The Philippine imports electronic products as components for it main export products - electronic items.
Owing to the sluggish and imports and exports figure of the country in January to September, the total external trade in goods for the period declined 29.6 percent to $59.318 billion.
"Thus, the balance of trade in goods (BOT-G) for the Philippines registered a deficit of $4.036 billion during the nine-month period in 2006 from $6.483-billion deficit in the same nine-month period last year," the NSO said.
Japan was the country's largest import source, with a 14.6-percent share, followed by the US' 10.4-percent share.
Other top sources were China, Singapore, South Korea, Taiwan, Thailand, Saudi Arabia, Malaysia and Indonesia. - Cheryl M. Arcibal, GMANews.TV
The National Statistics Office said the country's imports bill slipped 25 percent to about $3.67 billion compared to the $4.89 billion that the country paid in the same month in 2008.
However, the latest figure showed a growth of 1.5 percent from August's 28.3-percent decline.
The September figure also brought the country's nine-month imports bill for the year at $31.677 billion or a 30.2-percent dip from last year's $45.383 billion.
Electronic products, which accounted for 36.3 percent of the total import bill, slid 22.1 percent year-on-year but improved 2.2 percent on a month-on-month basis.
The Philippine imports electronic products as components for it main export products - electronic items.
Owing to the sluggish and imports and exports figure of the country in January to September, the total external trade in goods for the period declined 29.6 percent to $59.318 billion.
"Thus, the balance of trade in goods (BOT-G) for the Philippines registered a deficit of $4.036 billion during the nine-month period in 2006 from $6.483-billion deficit in the same nine-month period last year," the NSO said.
Japan was the country's largest import source, with a 14.6-percent share, followed by the US' 10.4-percent share.
Other top sources were China, Singapore, South Korea, Taiwan, Thailand, Saudi Arabia, Malaysia and Indonesia. - Cheryl M. Arcibal, GMANews.TV
