Trade gap narrows to $3.16 billion in February

The Philippines’ trade-in-goods deficit narrowed in almost four years in February as exports eased while imports declined, the Philippine Statistics Authority (PSA) reported on Friday.

Preliminary data from the PSA showed the country’s trade balance in goods — the difference between the values of exports and imports — reached $3.16 billion from the revised $5.12-billion deficit in January and the $3.56-billion gap a year earlier.

February saw the narrowest trade deficit in 46 months since the $3.09-billion deficit in April 2021.