The Philippines’ trade-in-goods deficit widened to a three-month high in January as both exports and imports picked up, the Philippine Statistics Authority (PSA) reported on Friday.
The trade deficit could further worsen this year as the US trade war escalates, analysts said.
Preliminary data from the PSA showed the country’s trade balance — the difference between the values of exports and imports — ballooned to a $5.09-billion deficit from $4.14-billion deficit in December and the $4.36 billion gap a year earlier.
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