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Financial News: Philippine Trade Deficit Narrows In February

Philippine Trade Deficit Narrows In February

04/07/2020 - 23:13:00 (RTTNews)

(RTTNews) - The Philippine trade deficit declined in February from last year as exports rose and imports declined, data from the Philippine Statistics Authority showed on Wednesday.

The trade deficit declined to $1.656 billion in February from $2.733 billion in the same month last year.

Data showed that exports grew 2.8 percent year-on-year in February following a 0.5 percent rise in the last year. The shipment of electronic goods gained 3.4 percent in February.

Imports logged a double digit decrease of 11.6 percent annually in February, after a 2.9 percent rise in the previous year.

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