Philippines posts biggest trade deficit in five months

MANILA (Phillippine Daily Inquirer/Asia News Network): The Philippines posted its widest trade deficit in five months for January as exports fell sharply, pointing to a worsening trade balance that could put pressure on the peso in the near term.

The trade gap in January widened by 27.2 per cent to US$5.74 billion, the biggest since the record monthly deficit of $6 billion in August, from $4.5 billion in the same month last year, preliminary data from the Philippine Statistics Authority showed on Tuesday (March 14).