RP imports down 3.3% in June

RP imports down 3.3% in June

MANILA: Merchandise imports in the Philippines fell 3.3 percent from a year earlier in June, though imports for the first six months remained ahead of last year's levels, the National Statistics Office said on Tuesday.

June imports dropped 3.3 percent to US$2.922 billion from a year ago. The figure was also 11.6 percent lower than the previous month's total of $3.305 billion.

June imports of electronic products, key components of the country's vital technology exports, dropped 4.3 percent year-on- year, and 12.2 percent month-on-month, to $1.34 billion.

Purchases of mineral fuels and related materials plunged 18.7 percent from the previous year to $36.02 million.

Purchases of industrial machinery, textiles and related products also fell, while imports of transport as well as telecommunications equipment both rose.

Six-month imports rose 9.9 percent compared to the first half of 2002. -- AFP