Import bill swells past P15.6 billion
The recovering economy and the Pula’s weakened position against the Rand are among factors contributing to the rise of the import bill, currently estimated beyond P15.6 billion.
According to recently released Central Statistics Office (CSO) data, total imports up to May 2010 this year amount to P15.6 billion representing an increase of 21.5 percent over the value of imports between January and May 2009.
The CSO report explains that figure of P15.6 billion does not include June figures and for May, factors in about 95 percent of imports. Thus, the CSO expects to soon revise the statistics, when it releases its trade figures for the second quarter.
Since January, monthly import figures have eclipsed those of last year, with April 2010’s bill of P2.79 billion representing an 11.8 percent jump from the same month last year. May 2010’s import bill of P2.77 billion is approximately 2.7 percent above the figure recorded for the [continue reading]