By Karis Kasarinlan Paolo D. Mendoza, Researcher
THE PHILIPPINES’ trade-in-goods deficit ballooned to nearly $6 billion in October, the biggest trade gap in over two years, as exports continued to decline while imports grew at its fastest pace in six months, the Philippine Statistics Authority (PSA) reported on Tuesday.
Preliminary data from the PSA showed the country’s trade-in-goods balance — the difference between exports and imports — stood at a deficit of $5.8 billion in October, up 36.8% from the $4.24-billion deficit in October last year.
Month on month, the trade gap widened by 13.8% from the revised $5.1 billion in September.
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