Imports fall for 1st time in 9 months

ABS-CBN News

Posted at Jun 09 2017 11:33 AM

MANILA – Imports fell for the first time in nine months in April due to a decline in the purchase of consumer and capital goods, government data released Friday showed.

Seven out of 10 imported commodities recorded declines, including food and live animals, miscellaneous manufactured articles, plastics, industrial machinery, telecommunication equipment, fuels and electronic products, the Philippine Statistics Authority said.

Total imports for the month totaled $6.86 billion, the PSA said.

April exports grew 12.1 percent to $4.81 billion, resulting to a trade deficit of $2.1 billion for the month, it said.

Total external trade for the month reached $11.66 billion, it said.

Japan was the country’s top export market, accounting for 14.8 percent of the total, followed by the US, Hong Kong, China, Singapore, Thailand, Germany, South Korea, Taiwan and Malta.

China was the biggest source of imports, with 18.1 percent of the total, followed by Japan, Korea, US, Thailand, Singapore, Indonesia, Taiwan, Malaysia and Hong Kong.