TOKYO: It was the third-strongest rise in imports since January 2014, when the indicator was up 25.7%.
According to preliminary data from the Philippine Statistics Authority, $6.50 billion worth of goods was shipped into the country, the high for 2015. This compares with the revised $5.56 billion a year earlier.
Electronic products accounted for 30.8% of total imports, with a value of $2 billion, with components/devices or semiconductors coming in at 23.7% of all electronic goods.
In the year to date, imports now total $37.23 billion, up 0.1% year-on-year. The balance of trade in July was a $1.78-billion deficit, compared to a $138.95-million deficit in the same period last year, the PSA said.
Raw materials and intermediate goods amounted to $2.85 billion, or 43.8% of total imports, against $2.02 billion a year earlier. Capital goods, on the other hand, accounted for 29.8%, rising to $1.94 billion in July from $1.46 billion a year earlier.
China was the Philippines’ biggest source of imports with a 19.1% share in July, followed by the United States (12.9%) and Japan (10.9%).
