China remains Philippines' biggest source of imports in March

MANILA - China remains the biggest source of imports with 15.3 percent share in March, Philippine Statistics Authority (PSA) said Wednesday.

Import bills from the top 10 countries for imports in March amounted to $6.14 billion or 75.6 percent share of the total, the PSA said.

"China was the country's biggest source of imports with 15.3 percent share in March 2018. Import payments to China stood at $1.24 billion, posting a decrease of 12.0 percent from $1.41 billion in March 2017," the PSA said in a statement.

Japan, including Okinawa, placed the second, accounted for 11.0 percent and an import value of $891.21 million.

South Korea ranked the third with imports valued at $830.88 million, contributing a share of 10.2 percent.

The United States, including Alaska and Hawaii placed fourth with imports valued at $624.51 million.

Other countries rounding the list of major sources of imports in March were Thailand, Singapore, Indonesia.

The PSA also said that total exports receipt recorded by the Philippines' top 10 market destinations in March amounted to $4.64 billion or 84.2 percent share of the total.