Import bill down 0.67 pct in 2013
MANILA, Philippines (Xinhua) - Import bill in 2013 declined by 0.67 percent on year to $61.71 billion on the back of lower purchases of electronic products and fuel, the National Statistics Office (NSO) said today.
In month of December alone, NSO said import bill went down by 0. 1 percent on year to $5.3 billion due to a decrease in the purchases of electronic products, industrial machinery and transport equipment from abroad.
Last year, data from the NSO showed that payments for imported electronic products declined by 4.72 percent on year to $15.43 billion.
Payments for mineral fuels and lubricant contracted by 4.67 percent on year to $13.1 billion on the back of lower purchases of petroleum crude.
The Philippines also bought less iron ore, wheat, chemical, and animal and vegetable oils and fats in 2013.
Major sources of imports for the Philippines last year were China, the United States, Japan, and South Korea.
The Philippines posted a trade deficit of $7.73 billion in 2013, lower than the $10.02 billion registered in 2012.
- Latest
- Trending
