Sign up | Log in



Home  >>  Daily News  >>  Philippines News  >>  Trade  >>  Philippines: Imports slide 2% in July
NEWS UPDATES 26 September 2009

Philippines: Imports slide 2% in July

Related Stories

September 23, 2009
Philippines receive $35m in US garment orders

September 11, 2009
Philippines’ exports down for 10th month

September 7, 2009
Philippine exporters return to Asian markets

September 1, 2009
Philippines considers allowing entry of US vegetables

August 30, 2009
Philippine farmers seek Asean tariff cut delay

August 20, 2009
Philippine food producers urged to tap Indian market

Philippines merchandise imports reverted to a negative monthly growth in July, falling 2 percent to $4.03 billion from the $4.11 billion in June, the Philippines Daily Inquirer reported.

Documents from the National Statistics Office (NSO) on the import bill showed that the value of inbound cargoes suffered a setback after rising month-on-month from March to June.

A rise in imports is considered positive because this indicates a similar movement in exports, especially for the Philippines, which relies heavily on foreign supplies of electronics inputs for its biggest source of export revenues.

Imports continued to contract year-on-year and at a faster rate of 31.6 percent from $5.88 billion in July last year, dipping for the 10th straight month since October last year.

This brought the import bill in the first seven months to $24.39 billion, or 31.2-percent less than the $35.45 billion worth of incoming goods in the same period last year.

From January to July, the trade balance settled at a deficit of $3.86 billion, which was less than the $5.39-billion deficit registered in the same period last year.

The balance for July showed a deficit of $715 million, easing from $1.44 billion in the same month a year ago.

NSO documents showed that exports of electronic products, which accounted for 39.8 percent of total imports in July, were down 8.2 percent to $1.6 billion year-on-year from $1.74 billion.

July shipments of mineral fuels, lubricants and related materials—which represented the second-biggest subgroup in terms of value—fell 65.7 percent to $610.38 million from $1.781 billion.

Japan was the biggest source of imports in July, accounting for 13.5 percent of total cargoes or $554.45 million, a decrease of 11.2 percent year-on-year.

The United States represented 11.7 percent of cargoes valued at $472.31 million or a 22.1-percent decrease. China shipped 8.8 percent of total imports worth $353.64 million, down by 15 percent.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand