FX.co ★ Philippine Trade Deficit Narrows In February

Philippine Trade Deficit Narrows In February

The Philippine trade deficit declined in February from last year as exports rose and imports declined, data from the Philippine Statistics Authority showed on Wednesday.

The trade deficit declined to $1.656 billion in February from $2.733 billion in the same month last year.

Data showed that exports grew 2.8 percent year-on-year in February following a 0.5 percent rise in the last year. The shipment of electronic goods gained 3.4 percent in February.

Imports logged a double digit decrease of 11.6 percent annually in February, after a 2.9 percent rise in the previous year.

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