THE Philippines posted a record-high trade deficit in May as imports growth continued to surpass the expansion in exports, Philippine Statistics Authority (PSA) data showed on Tuesday.
“The country’s balance of trade in goods (BoT-G) registered a $2.753 billion deficit in 2017 higher than the $2.240 billion deficit in May 2016,” the agency said in a statement along with the release of the official data.
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