Trade gap shrinks to $3.49 billion in April

By Abigail Marie P. Yraola, Deputy Research Head

The Philippines’ trade deficit in goods narrowed to its two-month low in April, as imports contracted to its lowest in 13 months, the Philippine Statistics Authority reported on Friday.

Preliminary data from the PSA showed the country’s trade-in-goods balance — the difference between the values of exports and imports — reached a deficit of $3.49 billion in April from the $4.51-billion deficit in March and the $4.73 billion gap a year earlier.