Philippine imports grew by 30.8 percent year-on-year to 6.83 billion U.S. dollars in January from 5.22 billion U.S. dollars a year ago, the Philippine Statistics Authority (PSA) said Wednesday.
The January import level was the highest reached since November 2010, said Socioeconomic Planning Secretary Emmanuel Esguerra. The increase was due to the positive performance of nine out of the top 10 major imported commodities for the month led by metal products.
The other eight positive performers were: electronic products, transport equipment, industrial machinery and equipment, telecommunication equipment and electrical machinery, miscellaneous manufactured articles, iron and steel, other food and live animals, and plastics in primary and non-primary forms.
Only mineral fuels, lubricants and related materials recorded a decline in January. China has remained as the Philippines' biggest source of imports at 17.9 percent in January. Payments were recorded at 1.22 billion U.S. dollars, an increase of 38.1 percent from 886.27 million U.S. dollars in January 2015.
Latest comments