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HomeCustoms & TradeImports see 8.5% decrease in August to $3.1 billion

Imports see 8.5% decrease in August to $3.1 billion

MERCHANDISE imports fell 8.5% from a year earlier to US$3.105 billion in August, continuing a mixed trend for the year, the National Statistics Office said last Monday

Electronics products imports, which accounted for 47.5% of the total for the month, dropped by 14.9% to US$1.475 billion. Most are raw materials for the semiconductor industry, the country’s main export product.

The 8.5% import drop for the month followed a 1.3% rise in July. It was the third month this year that imports fell, compared to five months of increased overseas shipments.

Imports for the eight months to August are up 6.1% from a year earlier to US$24.908 billion, while exports are 0.2% higher to US$23.002 billion.

The eight-month trade deficit rose to US$1.905 billion, compared to US$513 million last year.

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