INFOGRAPHIC: Consumer spending is buoyant despite drop in imports – NEDA

Despite the 12.8-percent year-on-year decline in merchandise imports in April, domestic demand for capital and consumer goods remains strong, the National Economic and Development Authority said Thursday.

 

The Philippine Statistics Authority reported that merchandise imports significantly dropped to $4.7 billion in April from $5.4 billion in April last year.

 

"The sharp decline in imported mineral fuels and lubricants (-53.9 percent), and raw materials and intermediate goods (-12.8 percent) in April 2015 caused the significant overall decrease in imports. However, double-digit increases were recorded in the importation of consumer (30.3 percent) and capital goods (13.0 percent)," the NEDA noted.

 

“Figures on capital and consumer goods reflect the upbeat outlook of consumer spending and is a positive indication of healthy demand-driven activities at the household and industry level,” said Economic Planning Secretary Arsenio M. Balisacan, who is also the NEDA director general. – VS, GMA News