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Philippine imports rise to 8-month high in May

07-25-2012 13:45 BJT

MANILA, July 25 (Xinhua) -- Philippine import bill in May rose 10.1 percent on year to 5.39 billion U.S. dollars the highest year on year growth posted since September 2011, according to data issued Wednesday by the National Statistics Office (NSO).

Electronic products remain the country's top import, accounting for nearly a third of total import receipts. Electronic imports in May hit 1.44 billion U.S. dollars this is 15.3 percent lower than last year's but 9.3 percent higher than April 2012.

Import bill payments for mineral fuel and lubricants, the second among the top ten imports, rose 88.1 percent on year to 1. 29 billion U.S. dollars. Imports of other products like transport equipment and industrial machinery also increased.

Most of the country's imports came from the U.S., China, Republic of Korea and Japan.

Aggregate imports for the first five months went down by 1.9 percent on year to 25.66 billion U.S. dollars.

Trade deficit for May was at 454 million U.S. dollars, bringing the five-month trade deficit to 3.22 billion U.S. dollars.




Editor:James |Source: Xinhua

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