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Sept. customs collections down

The Bureau of Customs said Thursday collection in September fell 0.8 percent to P32.65 billion from P32.91 billion year-on-year due to lower oil prices. The figure is also 21 percent short of the P41.1-billion target for the month.

Total value of importation in September decreased 5.4 percent while volume grew 20.5 percent.

Non-oil revenues climbed 11.3 percent to P26.59 billion while collections from petroleum products decreased 33 percent to P6 billion.

Revenues in the nine-month period rose 0.9 percent to P268.23 billion, but were 14.6 percent, or P45.942 billion, short of the target of P314.171 billion.

Non-oil collections from January to September increased 13.2 percent year-on-year to P218.85 billion. Both volume and imports rose 16 percent and 5.5 percent, respectively.

Volume of imports of oil products increased 20.6 percent in the nine-month period but the value dropped 32.4 percent. Collections from oil decreased 32 percent year on year, or P23.123 billion, after as the average oil prices for the period dropped 48 percent. Gabrielle H. Binaday

Topics: Bureau of Customs
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