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Imports in July reached only $4.964 billion, a 0.8% decline, government data on September 25 shows
MANILA, Philippines – Imports in July reached only $4.964 billion, government data on September 25 showed.
This reflected a 0.8% decline and ends the upward momentum in previous months when imports were reflecting double-digit increases, indicating a pick up in demand for Philippine products for export amid a global economic slowdown.
This latest data brings total imports for the first 7 months of 2012 to $35.712 billion, trimming overall growth to only 0.2%.
Top import sources in July were Japan, which accounted for 11.6%; China, 10.9%; and US, 10.1% – Rappler.com
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