Philippines posts $3.2 billion trade deficit in March

May 8, 2024 - 4:06 PM
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Shipment to Canada
The ship Anna Maersk is docked at Roberts Bank port carrying 69 containers of mostly paper and plastic waste returned by the Philippines in Vancouver, British Columbia, Canada June 29, 2019. (Reuters/Jason Redmond)

The Philippines posted a trade deficit PHTBAL=ECI of $3.2 billion in Marchthe narrowest since May 2021, preliminary official data showed on Wednesday.

Imports PHIMP=ECIfell 20% to $9.3 billion in March from a year earlier, the biggest drop since a 20.8% drop in July 2020, while exports PHEXP=ECIfell 7.3% to $6.13 billion, the Philippine Statistics Authority said.

(Reporting by Mikhail Flores and Neil Jerome Morales; Editing by John Mair)

— Reporting by Mikhail Flores and Neil Jerome Morales; Editing by John Mair