Home » Customs & Trade » Feb imports jump 28%

PHILIPPINE imports continued to climb this year, with February figures growing 27.6% to $3.903 billion from $3.059 billion in February 2009, according to the National Statistics Office.

The growth has pushed the country’s total external trade data for the first two months of the year to $15.340 billion, 35% higher than the $11.38 billion posted in the same period of the previous year.

Electronic products remained the country’s top import item, accounting for 36.7% of the aggregate import bill amounting to $1.434 billion, 33.8% over last year’s $1.072 billion.

Imports of Mineral Fuels, Lubricants and Related Materials in February 2010 ranked second with a 13.8% share. They showed an 11.1% rise to $538.23 million from the previous year’s $484.40 million.

Cereals and Cereal Preparations was the country’s third top import commodity. With a 7.8% share to total imports, February shipments were worth $304.94 million, up 63.8% from $186.15 million.

Japan was the country’s leading source of imports with a 13.4% share of the total import bill. Imports from that country grew 28.2% to $522.08 million from $407.40 million in February 2009.

The US was the second biggest source with an 11.1% share. Payments amounted to $434.26 million, an increase of 4.2% from $416.88 million in February 2009.

Singapore came in third, accounting for 8.8% of the total. Imports amounted to $384.81 million, down 11.2% from $341.91 million last year.

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