"September imports grow 7.8% as consumer goods continue to surge
Quezon City (1 December 2005) -- Merchandise import payments in September increased by 7.8 percent to $4.1 billion as purchases of all major groups except raw materials and intermediate goods increased, according to National Economic Development Authority.
Socioeconomic Planning Secretary Augusto Santos said capital imports surged by 10.5 percent in September. Capital build-up was specifically recorded in aircraft, ships and boats (527.5%), power generating and specialized machines (26.1%) and telecommunication equipment and electrical machinery (9.2%).
The NEDA Chief also said that demand for consumer goods remained upbeat, rising 9.1 percent compared with the same period last year. He noted that inward shipments of fish and fish preparations (163.2%), importation of rice (63.3%), and passenger cars and motorized cycles (44.9%) cushioned the decline in dairy products (-36.9%) and other food and live animals (-6.4%).
Raw materials and intermediate goods were the only group that declined by 12.9 percent. Materials and accessories for the manufacture of electronic equipment declined by 32.2 per cent, compensating for the rise in imports of manufactured goods.
The United States remains the country's primary source of imports in September comprising 18.2 percent of the market followed by Japan and Singapore with 15.1 and 8.2 percent respectively. (Beat The Odds Infobits"
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