PH trade deficit narrows to $3.35B
The country’s trade deficit narrowed to $3.35 billion in June from a month earlier as a continued exports contraction eased amid still-strong exports growth.
Total external trade in goods reached $14.75 billion for the month, up 13.5 percent from a year earlier, on exports of $5.704 billion and imports of $9.05 billion.
Outbound shipments were down 0.1 percent from June last year while inbound goods grew by 24.2 percent.
The trade deficit for the month was higher than the $1.59 percent recorded a year earlier but was down from May’s $3.7 billion.
Electronic products remained the country’s top export, accounting for 58.8 percent of the total and up 13.5 percent from a year earlier.
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