RP imports jump 45 percent

RP imports jump 45 percent

MANILA: Philippine merchandise imports jumped 45.1 percent in
January from a year earlier, official data showed Wednesday, with
local manufacturers seen stocking up electronics parts and fuel
ahead of a looming war in Iraq.

The import value rose to US$2.92 billion in January, the
National Statistics Office (NSO) said in a statement. Imports in
December rose 19.8 percent to $2.57 billion.

The NSO said the Philippines suffered a trade deficit in
January of $226 million compared with the year-earlier surplus of
$621 million.

Electronics accounted for 25.9 percent of the January imports,
surging 102.8 percent to $754.56 million with mineral fuels,
lubricants and related materials rising 62.5 percent to $329.23
million.

The largest source of Philippine imports is the United States,
which comprised about 20 percent or $583.11 million of the total
in January. -- AFP