Sept imports up 7.2%

MANILA, Philippines – Merchandise imports rose 7.2% in September in anticipation of an increase in demand for goods during the Christmas season, the government said Tuesday, November 25.

The National Statistics Office said the country imported $5.711 billion worth of goods in September, higher than last year’s $5.327 billion.

Electronics products accounted for bulk of the imports, with a share of 30.9% or $1.764 billion of the total bill, up 29.8% from September 2012.

Imports in September brought the aggregate for the first 9 months of 2013 to $46.359  billion, almost the same level as last year’s $46.344 billion.

“The rise of importation in September 2013 mirrored the buoyant outlook of firms on the volume of business activities for the third and fourth quarters of the year,” Socioeconomic Planning Secretary Arsenio Balisacan said in a statement.

Import sources

United States, including Alaska and Hawaii, was the biggest source of imports in September, accounting for 11.8% or $675.10 million of the total import bill.

The other top sources were:

• People’s Republic of China – 11.5% share ($657.57 million)
• Taiwan – 8% share ($457.65 million)
• Japan – 7.9% share ($454.84 million)
• Singapore – 7.2% ($410.48 million)

– Cherrie Regalado/Rappler.com