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Philippines trade deficit at $5.84 billion as imports surge

Published 08/08/2022, 09:19 PM
Updated 08/08/2022, 09:20 PM
© Reuters. FILE PHOTO: Trucks transporting containers with imported items are prepared to leave a port in Manila, Philippines May 25, 2016. REUTERS/Erik De Castro

© Reuters. FILE PHOTO: Trucks transporting containers with imported items are prepared to leave a port in Manila, Philippines May 25, 2016. REUTERS/Erik De Castro

MANILA (Reuters) - The Philippines posted a $5.84 billion trade deficit in June, the widest gap based on data running from January 2020, government figures showed on Tuesday, ahead of the release of second-quarter GDP figures at about 0200 GMT.

Imports rose 26% from a year earlier to $12.5 billion, driven largely by higher cost of fuel, while exports increased just 1% to $6.64 billion.

Latest comments

ph government love to import others product rather than to use their own because lot of kick back in exporting.
ph government love to import others product rather than to use their own because lot of kick back in exporting.
ph government love to import others product rather than to use their own because lot of kick back in exporting.
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