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Philippines: JULY IMPORTS DROP BY 2.0 PERCENT MONTH-ON-MONTH, 31.6 PERCENT YEAR-ON-YEAR.
Section: General News - The total merchandise imports in July 2009 dropped by 2.0 percent from the previous month, and by 31.6 from July 2008. This amounted to $4.0 billion, lower than the previous month's $4.1 billion due to declines in the inward shipments of mineral fuels, lubricants and related materials (-28.6%), and consumer goods (-27.9%).
As July 2009 exports declined by 2.8 percent, trade deficit for the month amounted to US$715 million. Alongside the Philippines, Vietnam and Hong Kong also posted trade deficits in the same month among the trade-oriented economies in East and Southeast Asia.
In his memorandum to the President, Acting Socioeconomic Planning Secretary and NEDA …
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