The Philippines posts a trade deficit of $4.9 billion in June, based on preliminary data released by the Philippine Statistics Authority. The deficit is higher than a year earlier, expanding by 12.3% from June 2024 as imports continue to rise faster than exports. In June, imports reach $13.7 billion, up 19.6% year on year, while exports increase to $8.8 billion, growing 24.1% year on year. Despite the widening gap, the trade shortfall is described as the narrowest in four months, indicating improvement compared with the immediately preceding period. One report notes that the rise in exports is driven by a record surge in outbound shipments, with exports reaching an all-time high of $8.78 billion for the month. Across the data points, both outlets agree on the headline deficit figure of $4.9 billion and the year-on-year growth rates for imports and exports. Overall, the June figures show that stronger export performance helps limit the size of the deficit, even as import growth remains larger in absolute terms.
Philippines records $4.9 billion trade deficit in June as imports outpace exports
The Philippines posts a trade deficit of $4.9 billion in June, based on preliminary data released by the Philippine Statistics Authority. The deficit is higher than a year earlier, expanding by 12.3%...
- The Philippines reports a $4.9 billion trade deficit for June, using preliminary PSA data.
- June imports total about $13.7 billion, up 19.6% year on year.
- June exports total about $8.8 billion, up 24.1% year on year.
- The trade deficit widens 12.3% from the same month a year earlier.
- The deficit is the smallest in about four months, with exports reaching an all-time high.
MANILA, Philippines — The Philippines’ trade deficit widened in June as imports continued to outpace exports, though a record surge in outbound shipments helped keep the gap at its narrowest in four months. Philippine Statistics Authority data released on Thursday showed the country’s trade deficit expanded 12.3 percent from a year earlier to $4.9 billion in June. READ: US slaps Philippine exports with new 12.5% tariff The shortfall nonetheless marked the smallest since February as exports climbed to an all-time high. Exports jumped 24.1 percent year on year to a record $8.78 billion, while imports rose 19.6% to $13.71 billion. READ: […]...Keep on reading: PH trade gap jumps 12.3% in June
7 hours agoMANILA — The Philippines posted a trade deficit PHTBAL=ECI of $4.9 billion for June, preliminary official data showed on Thursday. Imports PHIMP=ECI in June rose 19.6% from a year earlier to $13.7 billion, while exports PHEXP=ECIincreased by 24.1% to $8.8 billion, the Philippine Statistics Authority said. —Reporting by Mikhail Flores; Editing by John Mair The post Philippines June trade deficit at $4.9 billion appeared first on Interaksyon.
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