Philippine imports grew 6.6% in June to $4.503 billion from $4.225 billion in the same month last year, according to the National Statistics Office.
Month-on-month, however, imports declined 7.9% from $4.888 billion.
From January to June, total imports rose 15.6% to $30.501 billion from $26.377 billion.
Accounting for 25.5% of the aggregate import bill in June were electronic product payments which amounted to $1.147 billion. This is down 20.7% over last year’s $1.447 billion.
Imports of mineral fuels, lubricants and related materials represented 23.1% of the total and posted an annual growth of 42.5% to $1.040 billion from $729.72 million.
Industrial machinery and equipment cornered 5% of the aggregate valued at $225.23 million. The amount was 11.8% higher than the $201.47 million registered in June last year.
China was the country’s biggest source of imports for June 2011, accounting for 10.4% of the total import bill with $470.44 million, up 31.6% from $357.58 million in June 2010.
The US was the second biggest source of imports with a 10.2% share and recorded payments of $458.59 million. This is 8.1% more than last year’s $424.04 million.
Japan was the third biggest source of imports with a 9.3% share to $416.90 million, down 22.7% from $539.29 million last year likely because of supply disruptions following that country’s earthquake and tsunami.
Photo by AMAgill
