EAGLE News — Philippine imports dropped nearly 26 percent in December, the sharpest fall since 2009.
Semiconductor shipments contracted almost 40 percent to signal tougher days ahead for one of Asia’s fastest-growing economies.
The Philippines imports semiconductors largely for assembly in electronics products for export, and the decline underlines slower demand overseas as the global economy weakens.
Economists say the import data also highlights softening domestic demand, and growing uncertainty on the investment outlook ahead of national elections in May.