Philippines posts 315 mil. dlr trade surplus in Feb

Asian Economic News, April 19, 1999

MANILA, April 15 Kyodo

The Philippines posted a 315 million dollar merchandise trade surplus in February due to a continued slowdown in imports, the National Statistics Office said Thursday. The office said February goods imports dropped 12.8% to 2.25 billion dollars from 2.56 billion dollars a year earlier, but exports rose 15.4% to 2.57 billion dollars from 2.23 billion dollars. Imports of electronics and components slid 9.8% to 601 million dollars from 667.20 million dollars a year earlier, the office said. Imports of telecommunication equipment and electrical machinery dropped 22.0% to 173.43 million dollars from 222.23 million dollars. Japan emerged as the country's top source of imported goods in February with 531.06 million dollars, followed by the United States with 466.85 million dollars, and South Korea with 169.75 million dollars. The office released separate data on February exports in the last week of March.