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Imports fall anew in June

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Weak electronics shipments continue to weigh on imports

A staff member of the Semiconductor and Electronics Industries in the Philippines shows in their Manila office on December 10, 2008 computer chips manufactured by foreign semiconductor firms in the country. AFP PHOTO/ROMEO GACAD

MANILA, Philippines – Merchandise imports fell anew in June as electronics shipments remained weak.

The National Statistics Office reported Tuesday, August 27, imports declined 4.8% to $4.860 billion in June from $5.103 billion in the same month last year.

Compared to May’s import bill of $5.258 billion, June’s figure was down 7.6%.

Imports, which are raw materials used by the country’s export sector, were down for most of the year, except in April, when they rose 7.4%.

Electronics shipments in June went down 24.8% to $1,096 billion from $1.459 billion a year ago. This group was the top imported commodity, accounting for 22.6% of the total bill.

The other top imports for June were:

  • Mineral Fuels, Lubricants and Related Materials – 21.9% share or $1.065 billion
  • Transport Equipment – 8.7% or %423.96 million
  • Industrial Machinery and Equipment – 6.4% or $312.47 million
  • Other Food and Live Animals – 3.3% or $161.47 million

China was the country’s biggest source of imports, accounting for 14.1% ($685.16 million) of the bill.

Japan displaced US as the second top source, with a 9.3% share ($453.73 million). –

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