BoC July collections hit record P95.85 billion

The Bureau of Customs (BoC) said July collections hit a record P95.85 billion, surpassing its target by 4.7%, BusinessWorld reported.

The July haul was 12.5% higher than the P85.18 billion collected in the same month last year. This brought the agency’s collections in the first seven months to a record P587.71 billion, reflecting continued growth in import duties and other customs revenues.

The strong collections support government spending programs and reflect resilient trade activity. Customs revenues are a key source of funding for infrastructure and social services, and the record pace could ease fiscal pressures amid global supply chain shifts.