Home » Customs & Trade » Sept imports up 24% to $4.574B

PHILIPPINE imports increased 24.6% in September thanks to the continuing surge in electronic product shipments.

Latest data from the National Statistics Office showed September imports jumped to $4.574 billion from $3.670 billion in the same month last year.

Month-on-month, imports for September 2010 grew 2.7% from $4.452 billion recorded in August.

Accounting for 35.7% of the aggregate import bill, payments for electronic products amounted to $1.632 billion in September, up 23.8% over last year’s $1.318 billion.

Imports of mineral fuels, lubricants and related materials were the country’s second biggest import grouping at 16.1% of the total or $734.66 million, an increase of 6.9% from $687.50 million in September 2009.

With a 6.4% share to total imports, transport equipment came in third at $294.66 million from $217.51 million.

Japan was the country’s number one source of imports in September, accounting for 12.2% of the total import bill or $556.09 million from $533.60 million in September 2009.

The US was the second biggest source with a 10.8% share and recorded payments worth $491.52 million from $377.28 million.

Singapore came in third, accounting for 9.1% of the total to $415.46 million from $312.48 million.

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