PH imports down 5.8% in Feb

Apr 25, 2013 9:30 AM PHT

Rappler.com

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Merchandise imports fell two months in a row in 2013 as electronics remain weak

LOWER IMPORTS. The country's merchandise imports declines 8% in January 2013. Photo by AFP

MANILA, Philippines – Merchandise imports fell two months in a row in 2013 as electronics remain weak.

Data from National Statistics Office showed imports fell 5.8% in February following the 7.9% drop in January, the first drop since August 2012 and steepest since April 2012.

February imports reached $4.708 billion as electronics dropped 12.6% to $1.248 billion. Electronics accounted for 26.5% of total imports for the month.

Top import sources were the US (11.6% of total), China (11.5%), and Japan (9.4%). – with reports from Cai Ordinario and research by Ramon Calzado/Rappler