MANILA: The Philippines’ trade in goods with the rest of the world rose 5% year-on-year to US$43.1bil (RM177.25bil) in the first quarter of the year amid an overall recovering global economy from last year’s pandemic-induced recession.
The latest preliminary Philippine Statistics Authority (PSA) data showed that merchandise exports from January to March grew by 7.6% year-on-year to US$17.6bil (RM72.38bil), while imports were up by 3.2% to US$25.6bil (RM105.28bil), reversing the 5.6% contraction in external trade a year ago
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