By Beatriz Marie D. Cruz, Senior Reporter
THE PHILIPPINES’ trade deficit in goods ballooned to $4.94 billion in June as the boom in artificial intelligence (AI) drove double-digit growth in exports and imports, data from the Philippine Statistics Authority (PSA) showed.
Preliminary data from the PSA showed the trade-in-goods balance — the difference between exports and imports — stood at a $4.94-billion deficit in June, widening by 12.3% from the $4.4 billion recorded in the same month last year.
Month on month, the trade gap narrowed from the $6.1-billion deficit posted in May.
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