May trade deficit hits record high

By Mayvelin U. Caraballo

Jul 13, 2022 12:34 am

THE Philippines' trade deficit widened to a record high in May this year, according to preliminary Philippine Statistics Authority (PSA) data issued on Tuesday.

Exports increased by 6.2 percent to $6.30 billion, while imports rose by 31.4 percent to $11.98 billion. As a result, the trade gap in May was the highest on record at $5.67 billion.

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