The country’s trade deficit further widened in May, the government reported on Tuesday, as imports continued to post double-digit growth and exports contracted anew.
Merchandise exports for the month fell by 3.8 percent to $5.76 billion from a year earlier while inbound shipments grew by 11.4 percent to $9.46 billion, the Philippine Statistics Authority (PSA) said, bringing the trade balance to a deficit of $3.7 billion.
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