Philippines posts $4.76 billion trade deficit in April, widest gap in six months

June 11, 2024 - 7:13 PM
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 $4.76 billion for April, its widest gap since November 2023, preliminary official data showed on Tuesday.

Imports PHIMP=ECI in April rose 12.6% to $10.98 billion from a year earlier, while exports PHEXP=ECI jumped 26.4% to $6.22 billion, the Philippine Statistics Authority said.

Exports grew at their fastest pace since the 30.9% spike in May 2021, while imports posted their largest increase since a 14.4% gain in September 2022.

—Reporting by Neil Jerome Morales; Editing by Shri Navaratnam and Muralikumar Anantharaman