MANILA – Merchandise imports contracted by 6.8 percent in March 2015 as lower payments primarily for mineral fuels, lubricants and raw materials were recorded in the period, according to the National Economic and Development Authority (NEDA). According to a report from the Philippine Statistics Authority, total import payments fell to US$5.1 billion in March 2015 continue reading : Lower prices of oil, raw materials reduce imports in March 2015