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Financial News: Philippines Trade Deficit Rises In February

Philippines Trade Deficit Rises In February

04/08/2021 - 01:15:00 (RTTNews)

(RTTNews) - The Philippine trade deficit increased in February from the last year, the Philippine Statistics Authority showed on Thursday.

Exports declined 2.3 percent yearly in February, after a 4.8 percent fall in January.

Imports grew 2.7 percent annually in February, after a 12.1 percent decline in the previous month.

The trade deficit decreased to $2.293 billion in February from $1.968 billion in the same month last year. In January, the deficit was $2.876 billion.

Separate data from the statistical office showed that the production index value declined 46.5 percent yearly in February, following a 16.7 percent fall in January.

The production index volume decreased 43.6 percent in February, following a 12.0 percent decline in the previous month.

Data also showed that producer prices fell 5.3 percent annually in February, same as seen in January.

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