Trade deficit widens as exports contract

Mar 15, 2023 12:56 am

THE country's trade deficit widened to $5.7 billion in January as exports fell and imports picked up from a year earlier, the Philippine Statistics Authority (PSA) reported on Tuesday.

Merchandise exports totaled $5.23 billion for the month, down 13.5 percent year on year, while imports rose by 3.9 percent to $10.97 billion, PSA data showed.

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