PHL’s trade gap reaches three-month low in May

By Matthew Miguel L. Castillo

The Philippines’ trade deficit in goods further slimmed to a three-month low in May as exports grew while imports continued to fall, the Philippine Statistics Authority (PSA) reported on Friday.

Preliminary data from the PSA showed the country’s balance of trade in goods — the difference between the values of exports and imports — reached a deficit of $3.29 billion in May from the $4.73-billion gap in the same month last year.