PH imports down 12.8% in April

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MERCHANDISE imports dropped for the second consecutive month in April, falling 12.8 percent from a year earlier, preliminary data from the Philippine Statistics Authority (PSA) showed on Thursday.

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Total value of imports declined to $4.677 billion in the fourth month of this year from $5.366 billion in April 2014.

The contraction reverses the year-earlier expansion of 4.1 percent, and widens a revised 6.5 percent decline in March.

The trade balance in April swung to a deficit of $301 million from a $246 million surplus in March.

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