By Beatriz Marie D. Cruz, Reporter
THE PHILIPPINES’ trade gap widened year on year in August as growth in imports still outpaced the increase in exports, even as the value of outbound shipments was the highest in 11 months, the government reported on Thursday.
Preliminary data from the Philippine Statistics Authority showed that the country’s trade-in-goods balance — the difference between exports and imports — stood at a $4.375-billion deficit in August, 6.6% bigger than the $4.105-billion gap in the same month last year.
However, month on month, the trade gap shrank by 10.25% from the $4.88-billion deficit posted in July.
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