Philippine imports grew 6.6% to $4.999 billion in July from $4.688 billion a year ago, and 11% from June this year’s $4.503 billion, according to latest data from the National Statistics Office.
From January to July, imports jumped 14.3% to $35.5 billion from $31.065 billion in the same period last year.
Accounting for 26.3% of the aggregate import bill, mineral fuels, lubricants and related materials emerged as the country’s leading import for July valued at $1.313 billion, up 82.6% from $719.02 million in July 2010.
Imports of electronic products ranked second at $1.167 billion, down 28.6% from $1.634 billion.
In third place was transport equipment which represented 5.85% of the total valued at $290.43 million. The amount was higher by 11.3% from $260.96 million registered a year ago.
China was the country’s top import source for July, comprising 11.5% or $576.71 million of the total import bill, a 48.5% rise from $388.11 million in July 2010.
Japan came next with a 9.6% share of the aggregate and recorded payments worth $481.30 million. This represents a 20.8% slide from last year’s $607.66 million.
The US took third spot, accounting for 9.2% or $460.66 million of the total, down 2.6% from $472.99 million in 2010.
Photo by Dru Bloomfield – At Home in Scottsdale
