Home » Customs & Trade » March imports up 21%

PHILIPPINE imports in March rose 21.2% to $5.523 billion from $4.556 billion in the same month last year, according to the National Statistics Office.

March exports also increased 16% from $4.761 billion recorded in February.

For the three-month period, imports jumped 22% to $15.586 billion from $12.772 billion year-on-year.

Accounting for 37.2% or $2.054 billion of the aggregate import bill were payments for electronic products. Imports of the commodity went up 36.4% over last year’s $1.506 billion.

Mineral fuels, lubricants and related materials were the second biggest inward shipments with a 15.5% share or $858.18 million over the previous year’s $775.53 million.

Transport equipment registered as the country’s third top import for March with a 4.7% share valued at $258.75 million, up 8.9% from $237.54 million.

The US was the biggest source of imports for March with $636.48 million, an increase of 40.5% from $453.04 million in the same month last year. It accounted for 11.5% of the total.

Japan was the second biggest source of imports with a 10.4% share worth $576.83 million. This represents a 3.7% drop from $598.85 million in March 2010.

Singapore came third, accounting for 9.5% of the total import bill in March to $524.31 million, up 48% from $354.29 million last year.

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