RP April imports up 11.8 pct vs yr ago

ABS-CBN News

Posted at Jun 25 2008 11:44 AM | Updated as of Jun 25 2008 07:44 PM


Reuters


MANILA - Philippine imports in April rose 11.8 percent from a year earlier as the rising cost of fuel and food purchases masked a 10.7 percent annual drop in electronics imports that signals weaker export growth ahead.

Shipments of electronics parts dominate imports and are used as inputs for the country's key semiconductor exports. The sector is feeling the effects of a slowdown in US demand that is putting pressure on the Philippines' trade balance.

The Southeast Asian country had a trade deficit of $531 million for April and a trade deficit of $2.601 billion for the first four months of the year.