The country’s trade deficit in September narrowed to $4.82 billion, the leanest in six months and from a record $6 billion in August, according to preliminary data from the Philippine Statistics Authority.
The gap between imports and exports in September, however, was 26.5 percent bigger than the $3.81-billion deficit in the same month of 2021 although the year-on-year growth was far slower in September this year from 68 percent in September 2021.
Still, local exporters are optimistic of their prospects in the remainder of this year while ING Bank noted an unexpected rise in outbound shipments in September.
Two-way traffic of goods in September was valued at $19.14 billion, an i…
Keep on reading: Philippine trade deficit narrowed to $4.82B in September