Retail in Asia

In Markets

Philippine May imports up 31.4pc to USD4.75b

Philippine imports rose 31.4 percent to USD4.753 billion in May from USD3.616 billion in the same period last year, led by a double-digit surge in electronics, the Philippine National Statistics Office reported on Tuesday.

The government statistics office said the latest import figure was the highest in 21 months, indicating a pickup in domestic economic activity.

The country’s purchase of electronics went up by 17.7 percent from a year ago to USD1.53 billion after a 63.9 percent rise in April.