By Beatriz Marie D. Cruz, Senior Reporter
THE Philippines’ trade-in-goods deficit widened to $5.48 billion in May from a year ago, as imports grew faster than exports, according to the statistics agency.
Preliminary data from the Philippine Statistics Authority (PSA) showed the trade-in-goods balance — the difference between exports and imports — widened by 50.5% to $5.48 billion in May from $3.64 billion recorded in the same month a year ago.
Month on month, the trade gap narrowed from the revised $6.43 billion in April.
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