PH Aug trade deficit widens 93%


The Philippines’ trade deficit swelled 93 percent in August from a year earlier as exports continued to decline while imports surged, government data showed on Tuesday.

“The balance of trade in goods (BOT-G) for the Philippines in August 2016 registered a deficit of $2.023 billion, higher than the $1.048 billion trade deficit in the same month last year,” the Philippine Statistics Authority (PSA) said in a statement released with the trade data.

Export sales in the month fell 4.4 percent year-on-year to $4.904 billion from $5.128 billion, while total imports rose 12.2 percent to $6.927 billion from $6.176 billion.

The trade gap in August, however, was narrower than the $2.058 billion deficit recorded in July this year.



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