MANILA (Reuters): The Philippines posted a trade deficit of US$4.53 billion for April, preliminary official data showed on Friday (June 9).
Imports in April fell 17.7% to $9.43 billion from a year earlier, the deepest decline recorded since May 2020.
Exports shrank 20.2%, the biggest decline since May 2020, to $4.9 billion, falling for a fifth successive month, the Philippine Statistics Authority said.
The World Bank this week flagged high global inflation and a weaker economy as downside risks to the Philippines including its exports.
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
