07.08.201901:46:00UTC+00Philippine Trade Deficit Narrows In June

The Philippine trade deficit declined in June from last year amid sharp decrease in imports, data from the Philippine Statistics Authority showed on Wednesday.

The trade deficit declined to $2.47 billion from $3.55 billion in the same period last year.

Data showed that exports grew 1.5 percent on year after rising 1 percent each in May and April. At the same time, shipment of electronic goods gained 4.3 percent in June. Imports logged a double digit decrease of 10.4 percent year-on-year, bigger than the 5.2 percent drop in May. This was the third consecutive decline in imports.