(MENAFN) The Philippine Statistics Authority (PSA) said Philippine imports fell year-on- year by 13.4 percent to USD4.39 billion in May, Xinhua reported.
The drop was due to negative performance of eight out of the top 10 major imported commodities for the month.
According to PSA, transport equipment, mineral fuels, lubricants and related materials, and iron and steel dropped by 32 percent, 24.8 percent and 19.1 percent, respectively.
On the other hand, imported capital goods sustained its double- digit growth for the fourth straight month at 12.8 percent.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.