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PH Oct imports inch up 2.3%

Philippine imports grew 2.3% in October 2011 to $5.019 billion from $4.904 billion year-on-year but was down 1.1% from $5.076 billion in September 2011, according to latest data from the National Statistics Office.

Accounting for 24.6% of the aggregate import bill, electronic products emerged as the country’s leading imports for October at $1.235 billion, down 19.9% from $1.542 billion year-on-year.

Imports of mineral fuels, lubricants and related materials ranked second at $1.159 billion. The figure expanded by 28.4% over the previous year’s $902.82 million.

Transport equipment registered as the country’s third top import for October representing 6.7% of the total valued at $337.49 million. The amount was lower by 9.1% from $371.32 million posted year-on-year.

Japan was the country’s biggest source of imports for October with $606.42 million, up 0.8% from $601.36 million in October 2010.

The US was the second biggest source of imports with a 9.8% share and recorded payments worth $493.68 million. This number represented a 2.5% increment from $481.58 million registered in October 2010.

China was third with a 9.5% share to the total at $476.34 million, higher by 9% from $437.16 million in October 2010.

Midnight At Harbor by happykanppy


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