Imports drop 22.8% in June
MANILA – Philippine imports fell 22.8% in June from a year earlier, the slowest decline since October, the National Statistics Office (NSO) said on Tuesday, as economic activity continued to gain pace.
Imports in June at $4.11 billion were also the highest for a single month since October.
However, purchases of electronics parts, a key component in the country’s export sector, were down 20.3% in June from a 12.3% fall in May.
The Philippines clocked up a trade deficit of $701 million in June, bringing the shortfall in the first 6 months of the year to $3.14 billion, the NSO said.
Ahron Villena
Lito Atienza