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By Darwin G. Amojelar, Reporter
Philippine import bill dipped from previous
month but remained in double-digit territory as the country bought
more oil and food products abroad in April, the National Statistics
Office (NSO) reported Wednesday.
The NSO said imports grew 11.8 percent in April
to $4.855 billion from $4.343 billion in the same period last year.
In March, imports were up 12.1 percent to $5.12 billion.
The April purchases brought the total imports to
rise by 10.6 percent in the first four months of the year from
$32.828 billion in the same period last year.
Exports from January to April inched up by just
3.3 percent to $16.86 billion, causing a trade deficit of $2.601
billion. In April alone, the balance of trade recorded a deficit of
$531 million.
Electronics, which accounted for 32.8 percent of
the total import bill, fell 10.7 percent to $1.594 billion over last
year’s $1.784 billion. Among the major groups of electronic
products, semiconductors had the biggest share of 24.9 percent, down
by 15.2 percent to $1.209 billion from $1.426 billion in April 2007.
Purchases of mineral fuels, lubricants and
related materials in April rose 13.7 percent to $1.037 billion over
the previous year’s level of $912.08 million. In March, oil
imports surged 87.1 percent.
The country’s rice imports in April surged
173.96 percent to $155.16 million from last year’s P56.64 million.
In March, rice imports were up by 404.43 percent to $90.65 million.
Transport equipment imports rose 36.4 percent to
$304.07 million from $222.88 million in April last year. “This is
due to the acquisition of aeroplanes of an unladen weight exceeding
15,000 kilograms,” NSO said.
Purchases of cereals and cereal preparations
surged 222.9 percent to $239.95 million from $74.31 million last
year.
Rounding up the list of the top ten imports for
April were industrial machinery and equipment, $203.04 million; iron
and steel, $136.42 million; organic and inorganic chemicals, $94.29
million; fertilizers manufactured, $91.29 million; plastics in
primary and nonprimary forms, $90.29 million, and textile yarn,
fabrics, made-up articles and related products, $78.22 million.
Total payment for the country’s top ten
imports for April reached $3.869 billion or 79.7 percent of the
total import bill.
Singapore remained the country’s biggest
source of imports for April with a 14.5 percent share of the total
import bill or an increase of 36.4 percent to $702.99 million from
$515.31 million in April 2007.
Purchases from the United States, the second
biggest source of Philippine imports at $568.01 million in April,
declined by 6.9 percent from $610.06 million in the same month last
year.
Japan’s 11.4-percent share of the total import
bill at $552.44 million represented an increase of 7.5 percent from
$513.83 million during the same month last year.
Other major sources of imports for the month
were Saudi Arabia, $424.24 million; People’s Republic of China,
$350.08 million; Taiwan, $297.61 million; Republic of Korea, $222.08
million; Thailand, $199.24 million; Malaysia, $173.25 million; and
Hong Kong, $172.92 million.
Payments for imports from the top ten sources
for April 2008 amounted to $3.663 billion or 75.4 percent of the
total.
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