From BusinessWorld:
"Merchandise imports slid further in January, highlighted by a continued fall in shipments of key electronics components, in a sign that the global downturn was continuing to take its toll on trade.
January’s 34.5% decline to 3.27 billion, which was slightly worse than December’s 34%, was the lowest monthly total for imports since February 2005 and the fourth straight month that inbound shipments had fallen on an annual basis.
The Philippines had a trade deficit of $759 million for the month after a revised deficit of $7.62 billion in 2008."
