THE country's trade deficit widened in September from a year earlier as exports contracted, preliminary data from the Philippine Statistics Authority (PSA) showed.
THE country's trade deficit widened in September from a year earlier as exports contracted, preliminary data from the Philippine Statistics Authority showed.At $5.08 billion, the shortfall rose from $4.39 billion in August and was also higher than the year-earlier $3.55 billion.Total trade in goods eased to $17.6 billion from the previous month's $17.89 billion but was higher than September 2023's $17.09 billion.Imports growth improved to 9.9 percent, from 2.
The United States was the biggest buyer of Philippine-made goods for the month, having purchased $1.08 billion or 17.3 percent of total exports.Rounding out the top five were Hong Kong , Japan , China and Korea .Electronic products were also the Philippines' biggest import for September at $2.40 billion or 21.2 percent of the total.Mineral fuels, lubricants and related materials followed at $1.36 billion , and transport equipment was third.
Gap Expands As Exports Fall 7.6%
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