THE PHILIPPINES’ trade deficit in goods widened slightly in March as a record-high import bill driven by rising global energy prices offset the fastest export growth since late last year, the Philippine Statistics Authority (PSA) reported on Thursday.
Preliminary data from the PSA showed the country’s trade-in-goods balance — the difference between exports and imports — stood at a deficit of $4.512 billion in March, widening by 0.1% from the $4.509-billion deficit in March last year.
Month on month, the trade gap ballooned from the revised $4.015 billion in February.
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