THE country’s merchandise imports expanded by 2.3 percent in October compared to a year ago, according to the National Statistics Office (NSO).
Data from NSO showed that the total merchandise imports for October amounted to $ 5.019 billion from $ 4.904 billion last year.
Month-on-month, however, it dropped by 1.1 percent from $ 5.076 billion in September this year.
This led imports in the first 10 months of the year to grow by 12.2 percent to $ 50.521 billion compared to $ 45.028 billion posted during the same period last year.
The country’s trade deficit in October stood at $ 932 million, bringing the 10-month tally to $ 9.228 billion.
Electronics, which accounted for 24.6 percent of the total import bill declined by 19.9 percent to $ 1.235 billion from from $ 1.542 billion registered in October last year.
Imports of mineral fuels, lubricants and related materials amounted to $ 1.159 billion, up by 28.4 percent over last year’s figure of $ 902.82 million.
Industrial machinery and equipment recorded a total import of $ 267.20 million, an annual growth of 13.4 percent from last year’s $ 235.60 million.
Imports of iron and steel rose 38.6 percent to $ 132.89 million from its year ago level of $ 95.89 million.
Purchases of transport equipment dropped by 9.1 percent to $ 337.49 million from $ 371.32 million posted a year ago.
Rounding up the list of the top ten imports were plastics in primary and non-primary forms amounting to $ 123.77 million; organic and inorganic chemicals valuing at $ 122.39 million; telecommunication equipment and electrical machinery including telecommunications and sound recording and reproducing apparatus and equipment, $ 98.90 million; cereals and cereal preparations, $ 84.94 million; and medicinal and pharmaceutical products, $ 78.25 million.
Total payment for the country’s top ten imports for October reached $ 3.640 billion or 72.5 percent of the total import bill.
Japan remained the country’s biggest source of imports in October with $ 606.42 million, an increase of 0.8 percent from $ 601.36 million in October 2010.
United States of America (USA) including Alaska and Hawaii, was the second biggest source of imports at $ 493.68 million from $ 481.58 million.
Imports from People’s Republic of China amounted to $ 476.34 million, higher by about 9 percent from $ 437.16 million during the same month in 2010.
Other major sources of imports for October were Singapore, $ 407.08 million; Republic of Korea, $ 402.91 million; Saudi Arabia, $ 335.25 million; Taiwan, $ 327.80 million; Thailand, $ 287.20 million; Malaysia, including Sabah and Sarawak, $ 271.41 million; and Indonesia, $ 232.63 million.
Payments for imports from the top ten sources for October amounted to $ 3.841 billion or about 76.5 percent of the total. [PNA]
