Tuesday October 27, 11:59 AM
Philippine August imports fall 28.3 percent
Philippine imports fell 28.3 percent year-on-year to 3.617 billion dollars in August, the government said Tuesday.
On a monthly basis, imports in August contracted 10.2 percent from 4.026 billion dollars worth of shipments in July, the National Statistics Office said in a statement.
Total import payments for the eight months to August shed 30.8 percent to 28.007 billion dollars over the same period last year, it said.
With the agency earlier reporting that exports in August reached 3.473 billion dollars, the trade deficit for the month fell to 144 million dollars compared to 4.394 billion dollars in the same period last year.
Total exports for the eight months to August were down 30.3 percent to 24.005 billion dollars, with the deficit at 4.002 billion dollars.
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