MANILA (Mabuhay) — Philippine imports rose at the fastest pace in nearly 1.5 years in June to break a declining trend in the past four months.
The country’s import bill expanded by 22.6 percent year-on-year to $5.92 billion in June, according to the Philippine Statistics Authority.
Electronic goods comprised over a third of the total, PSA data released on Tuesday showed. Components or semiconductors, which comprised 28 percent of electronic imports, increased by 168 percent in June.
Mineral fuels, meanwhile, accounted for 14.1 percent of the total. Such imports decreased by 21.9 percent.
The over-all growth rate in June was the fastest reported since the 25.7-percent increase in January 2014. But total imports for the first six months of the year were down 2.8-percent at $30.7 billion.(MNS)