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Philippines posts US$4.53bil trade deficit for April

Tan KW
Publish date: Fri, 09 Jun 2023, 02:49 PM
Tan KW
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MANILA : 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.


  - Reuters


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