Philippines posts US$3.2bil trade deficit in March

MANILA: The Philippines posted a trade deficit of US$3.2 billion in March, the narrowest since May 2021, preliminary official data showed on Wednesday (May 8).

Imports fell 20% to $9.3 billion in March from a year earlier, the biggest drop since a 20.8% drop in July 2020, while exports fell 7.3% to $6.13 billion, the Philippine Statistics Authority said. - Reuters