Philippine trade deficit narrowed in April as imports shrank

Philippine trade deficit narrowed in April as imports shrank

Manila International Container Terminal

The Manila International Container Terminal operated by ICTSI. —CONTRIBUTED PHOTO

MANILA, Philippines — The Philippines’ trade deficit narrowed in April. This followed a decline in imports while exports went on a four-month growth streak.

READ: Do you have a personal trade deficit?

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Latest data from the Philippine Statistics Authority showed the country’s trade gap shrank by 26 percent year-on-year to $3.5 billion.

Imports fell by 7.2 percent to $10.2 billion. Meanwhile, exports grew by 7 percent to $6.7 billion.

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TAGS: balance of trade, trade deficit

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