May imports up 1.6%

Reuters

Posted at Jul 26 2011 10:08 AM | Updated as of Jul 26 2011 06:08 PM

MANILA, Philippines - Philippine imports in May climbed 1.6% from a year earlier, with the growth sharply lower against the previous months and the slowest in about two and half years, official data showed on Tuesday.  

May's import growth was the first single digit increase recorded since June 2010 and was the slowest since October 2009 when imports fell 16.8%.   

But electronics, the country's primary import item, rose 11.2% in May from a year earlier, nearly flat from April's 11.5% annual increase. 

The trade deficit in May was $780 million, bringing the deficit for the first five months of the year to $5.37 billion.