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HomeCustoms & TradeNov imports up 35%

Nov imports up 35%

PHILIPPINE imports grew 35.3% to $4.944 billion in November 2011 from $3.655 billion year on year, according to latest data from the National Statistics Office (NSO).

This brought imports from January to November last year to $49.772 billion, up 27.1% from $39.155 billion in the comparable period.

Month-on-month, imports for November 2011 grew 1.1% from $4.890 billion.

Accounting for 32.9% of the aggregate import bill, electronic products were the country’s top imports in November with payments amounting to $1.625 billion. This is up 33.2% over the previous year's $1.220 billion.

Imports of mineral fuels, lubricants and related materials represented 17.5% of the total or $866.62 million, a growth of 13.3% from $764.56 million in November 2009.

Transport equipment were the country's third top imports for November, accounting for 8.1% of the aggregate at $398.41 million. The value accelerated by 109.9% from the previous year's $189.85 million, the highest annual growth rate among all imported goods.

Japan was the country's biggest source of imports with 11.9% of the total bill or $586.30 million from $435.97 million, higher by 34.5%.

The US was the second biggest source of imports with an 11.4% share and payments worth $562.93 million, up 44.4% from $389.73 million in November 2009.

People's Republic of China came third, accounting for 9.4% of the total or $466.59 million from $301.07 million, an improvement of 55%.


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