The Philippine trade deficit narrowed in July from the last year, the Philippine Statistics Authority showed Thursday.
Exports declined 9.6 percent on a yearly basis, but slower than the 12.5 percent decrease seen in June. This was the fifth consecutive decrease in shipments.
At the same time, imports plunged 24.4 percent versus a 23.1 percent drop in June.
As a result, the trade deficit narrowed to $1.83 billion from $3.64 billion in the same period last year. In June, the deficit was $1.37 billion.
Among major commodity groups, gold showed the biggest fall in exports value, which was down by 41.6 percent. Data showed that exports of electronic products continued to be the country’s top export with total earnings of $3.35 billion. But exports decreased 2.6 percent.
For comments and feedback contact: editorial@rttnews.com
[Economic News][1]
What parts of the world are seeing the best (and worst) economic performances lately? Click[here][2] to check out our [Econ Scorecard][2] and find out! See up-to-the-moment rankings for the best and worst performers in [GDP][3], [unemployment rate][4], [inflation][5] and much more.
- www.rttnews.com/Content/EconomicNews.aspx
- www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/lowest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/CPI/highest-performance.aspx