Philippine imports slide - NSO

MANILA, Philippines- Philippine imports dropped steeply in December, reflecting the continued slump in global trade owing to the worldwide recession. The National Statistics Office on Wednesday reported that imports slid 34.2 percent owing to the contraction of volume of imported electronic parts, the top import item of the country. Exports in the same month had plunged by more than 40 percent, indicating a slowdown in global demand.GMANews.TV