(Refiles to add number in first paragraph)
* Electronics imports down 5.8 pct y/y at $1.36 bln
* Sept trade deficit at $483 million
* Jan-Sept trade deficit at $5.97 billion
MANILA, Nov 27 Philippine imports in September
rose 3.6 percent from a year earlier, the statistics office said
KEY DATA Sept Aug July Jun May Apr Mar
Imports ($ bln) 5.27 5.06 4.96 5.09 5.39 4.77 5.37
yr/yr chg (pct) 3.6 -0.4 -0.8 13.0 10.1 -13.6 -3.3
- The country's largest imports are inputs used by the
semiconductor and electronics industry, also the biggest export
sector and a major contributor to the economy. Imports of
electronic parts in September fell 5.8 percent from a year
earlier, after a 5.7 percent rise in August.
- The government has trimmed its imports growth forecast for
this year to 12 percent from 15 percent as manufacturers feel
the brunt of the global economic slowdown.
- Exports, which account for about two-fifths of the
country's GDP, jumped 22.8 percent in September from a year
earlier as top electronics shipments rebounded after five
straight months of contraction.
- The Philippine central bank, which will hold its last
policy meeting this year on Dec. 13, cut its key rate by 25
basis points to a new low of 3.5 percent in October to help
manage capital inflows that have kept the peso rising against
the U.S. dollar and to boost growth amid weak external demand.
- Philippine economic growth likely defied the global
downdraft and picked up modestly in the third quarter, helped by
strong domestic demand and a late spurt in exports, but a
December rate cut may still on the cards to contain the peso's
- The government will release the third-quarter GDP data at
around 0200 GMT on Wednesday.
(Reporting by Erik dela Cruz; Editing by Rosemarie Francisco)