June imports show signs of recovery

MANILA, Philippines – The country’s import performance began to show signs of recovery in June, posting the lowest annual contraction since October last year and marking the second consecutive month of improvement.

The National Statistics Office (NSO) reported yesterday that imports fell 22.8 percent to $4.108 billion in June, better than the 24.3-percent drop recorded in the previous month.

On a month-on-month basis, June’s import performance was 13.6 percent higher than May, marking the second straight month of improvement.

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