Trade deficit drops in August
Credit to Author: ANNA LEAH E. GONZALES| Date: Thu, 10 Oct 2019 02:46:28 +0000
THE country’s trade deficit narrowed to $2.41 billion in August this year from $3.60 billion a year ago as exports increased while imports continued to contract, the Philippine Statistics Authority (PSA) reported on Thursday.
PSA data showed that the trade deficit during the month also went down from the $3.39 billion recorded in July this year.
Export sales grew by 0.6 percent to $6.25 billion from $6.22 billion a year ago.
Total value of imported goods dropped by 11.8 percent from $9.81 billion to $8.66 billion.