PHILIPPINE trade activity picked up in September this year as stronger overseas demand for manufactured goods and a surge in raw material purchases pushed up both exports and imports, official statistics showed.
Total seasonally adjusted exports increased 4.9 percent month-on-month to $9.36 billion in September, up from $8.92 billion in August, according to the Philippine Statistics Authority.
The monthly export growth was anchored by manufactured goods, the country’s major shipment driver, which rose 7.5 percent to $8.07 billion from $7.50 billion in August. Agro-based exports also registered a healthy 9.1 percent increase, reaching $546.16 million compared with $500.78 million in the previous month.
However, mineral exports pulled back sharply, sliding 14.6 percent to $675.76 million from $791.55 million in August due to shifting seasonal demand.
Meanwhile, total seasonally adjusted imports grew 4.5 percent month-on-month to $14.20 billion in September, up from $13.59 billion in August.
The overall import rise was heavily driven by raw materials and intermediate goods, which surged 29.5 percent to $6.37 billion from $4.92 billion in August, signaling strong demand for production inputs.
That surge offset declines in other major categories. Capital goods imports dropped 10.0 percent to $3.86 billion from $4.28 billion in August, while consumer goods slipped 8.6 percent to $2.18 billion from $2.39 billion. ( ABS-CBN News)
