Home » Breaking News, Customs & Trade » PH August imports up 10% to $4.9B

Philippine imports increased 10.4% to $4.926 billion in August from $4.461 billion year on year, according to latest data from the National Statistics Office.

Month-on-month, imports fell 1.5% from $4.999 billion in July.

From January to August, imports jumped 13.8% to $40.426 billion from $35.526 billion in the same period last year.

Imports of electronic products, the country’s top import commodity, skidded 15.2% to $1.395 billion in August from a year earlier after a 28.6% annual fall in July.

Mineral fuels, lubricants and related materials were the next top imports valued at $985.21 million, up 55% over last year’s $635.57 million.

Transport equipment registered as the country’s third top import commodity with $304.68 million. This is higher by 40.1% from $217.52 million registered a year ago.

Japan was the top source of imports for August, cornering 11.8% or $580.06 million of the total import bill, a 3.2% drop from $599.32 million in August 2010.

China was the next biggest source with a 10.6% share and recorded payments of $521.71 million.

The US followed with a 9.9% share or $485.55 million, up 2.5% from $473.82 million last year.

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