Philippine Imports Continue To Fall In September

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Total imports value in the Philippines dropped 25% year-on-year to $3.67 billion in September, after the 28.3% decline in the previous month, the National Statistics Office reported on Wednesday. On a monthly basis, imports grew 1.5% in September, rebounding from the 10.2% decline in the preceding month.

Imports of electronic products, which accounted for over 36% of the aggregate import bill, slid 22.1% annually in September, faster than the 21.1% fall in August. Month-on-month, electronic product imports climbed 2.2%.

Meanwhile, exports slumped 18.2% from the previous year to $3.64 billion, while the trade balance logged a deficit of $34 million, smaller than the $445 million deficit recorded a year ago.

Total imports value in the Philippines dropped 25% year-on-year to $3.67 billion in September, after the 28.3% decline in the previous month, the National Statistics Office reported on Wednesday. On a monthly basis, imports grew 1.5% in September, rebounding from the 10.2% decline in the preceding month. (Market News Provided by RTTNews)