Trade deficit widens in March
Credit to Author: ANNA LEAH E. GONZALES| Date: Wed, 08 May 2019 02:37:56 +0000
THE country’s trade deficit widened to $3.14 billion in March from $2.34 billion a year ago as imports increased while exports contracted, the Philippine Statistics Authority (PSA) reported on Wednesday.
March’s trade deficit was also higher compared to the $2.79 billion recorded in February this year.
PSA said total export sales during the month slipped by 2.5 percent to $5.88 billion from $6.02 billion in the same month last year.
Total value of imported goods on the other hand, increased by 7.8 percent from $8.36 billion to $9.01 billion this year.
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