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Financial News: Philippine Trade Deficit Narrows In March

Philippine Trade Deficit Narrows In March

05/06/2020 - 01:57:00 (RTTNews)

(RTTNews) - The Philippine trade deficit declined in March from last year as the fall in imports outpaced the decrease in exports, data from the Philippine Statistics Authority showed on Wednesday.

The trade deficit declined to $2.38 billion in March from $3.335 billion in the same month last year.

Exports logged a double digit decline of 24.9 percent annually in March, after a 2.8 percent rise in February. The shipment of electronic goods fell 24.0 percent in March.

Imports decreased 26.2 percent year-on-year in March, following an 11.6 percent fall in the previous month.

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