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Financial News: Philippines Trade Deficit Grows To $3.577 Billion In

Philippines Trade Deficit Grows To $3.577 Billion In August

10/11/2021 - 21:07:00 (RTTNews)

(RTTNews) - The Philippines posted a merchandise trade deficit of $3.577 billion in August, the National Statistics Office said on Tuesday.

That missed expectations for a shortfall of $3.5 billion following the $3.29 billion deficit in July.

Exports were up 17.6 percent on year, shy of expectations for an increase of 20 percent following the 12.7 percent gain in the previous month.

Imports spiked an annual 30.8 percent versus forecasts for an increase of 28.0 percent following the 24.0 percent gain a month earlier.

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