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Philippine imports down by 12.8 pct in April

Xinhua, June 25, 2015 Adjust font size:

Philippine imports fell by 12.8 percent year-on-year to 4.68 billion U.S. dollars in April from 5. 37 billion U.S. dollars a year ago, the Philippine Statistics Authority (PSA) said Thursday.

"The decline in total imports for this period was due to the negative performance of five out of the top 10 major commodities for the month," the state agency said.

The negative performers were mineral fuels, lubricants and related materials, plastics in primary and non-primary forms, iron and steel, transport equipment, and electronic products.

The April imports brought the first four months of the year to 20.38 billion U.S. dollars, 6.2 percent lower compared to 21.71 billion U.S. dollars last year.

While China remained as the Philippines' biggest source of imports with 16 percent share in April, import payments declined by 11 percent to 749.85 million U.S. dollars from 842.48 million U. S. dollars a year ago.

The United States was the second biggest source of imports with total import bill amounting to 404.84 million U.S. dollars, 6 percent higher from 382.08 million U.S. dollars last year.

Singapore came third, contributing 8.3 percent to the total import bill in April 2015, valued at 388.91 million U.S. dollars, 11.2 percent increase from April last year. Endi