* Electronics imports up 11.1 pct yr/yr, highest in 4 mths
* Jan trade deficit at $1.38 bln vs yr-ago gap of $716 mln
MANILA, March 25 Philippine imports in January
jumped 21.8 percent from a year earlier, the biggest since March
2011 when they rose 21.9 percent, the statistics agency said on
KEY DATA Jan Dec Nov Oct Sept Aug July
Imports ($ bln) 5.76 5.41 5.24 4.82 5.71 5.55 5.49
yr/yr chg (pct) 21.8 2.1 0.5 -8.6 7.2 7.0 8.7
mth/mth (pct) 6.4 3.4 8.5 -15.5 3.0 1.1 12.9
Imports ($ bln) 1.28 1.26 1.15 1.25 1.76 1.34 1.63
yr/yr chg (pct) 11.1 -2.5 -8.7 -7.3 29.9 -9.0 33.1
mth/mth (pct) 1.7 8.2 -7.6 -29.3 31.6 -17.6 48.8
- The country's largest imports are components used by the
semiconductor and electronics industry, the biggest export
sector and a major contributor to the economy. Imports of
electronic parts in January climbed 11.1 percent from a year
earlier, the highest since September.
- Exports climbed for an eighth-month in a row in January,
although at a slower pace, supported by a 22.1 percent increase
in electronics exports. Total exports in 2013 rose 3.6 percent
to $54 billion.
- The country's trade deficit in January of $1.38 billion
nearly doubled from a year ago gap of $716 million
- The electronics industry group has forecast electronic
exports will grow 5 percent this year.
- Based on the central bank's latest estimates, Philippine
exports are expected to rise 6 percent this year, and imports to
grow 6 percent.
- The destruction wrought in the central Philippines in
November by super typhoon Haiyan, one of the strongest to ever
hit land, could spur more imports of construction materials for
rebuilding of communities, officials have said.
- Total imports in 2013 were down 0.7 percent to $61.7
billion from a year ago. The country had a trade deficit of $695
million in December, widening the total trade gap in 2013 to
- Officials have set an economic growth target of 6.5-7.5
percent this year, after growth of 7.2 percent in 2013.
(Reporting by Erik dela Cruz; Editing by Shri Navaratnam)