Pandemic 'base effects' bloat Philippine imports, exports in April 2021

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Pandemic 'base effects' bloat Philippine imports, exports in April 2021
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Exports jump 72.1%, while imports leap 140.9% in April. But a closer look at the numbers shows weaknesses in the economy.

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The Philippines registered headline-grabbing increases in imports and exports mainly due to base effects, or a jump in percentages due to sharp falls the previous year, latest figures from the Philippine Statistics Authority showed.

All the top 10 major commodity groups in terms of value exports recorded annual increases, led by ignition wiring set and other wiring sets used in vehicles, aircraft, and ships , followed by metal components , and miscellaneous manufactured articles . China comprised the highest export value in April amounting to $953.2 million, followed by the United States , Japan , Hong Kong , and Singapore .

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