Economic Indicators

Philippines trade deficit at $5.84 billion as imports surge

08/09/2022

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2022.08.09 04:25

Philippines trade deficit at $5.84 billion as imports surge
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.

08/09/2022

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