PH trade gap widens 39.2% on-yr in July

The Philippines’ trade deficit widened by 39.2 percent in July from a year earlier, with the latest government data showing both exports and imports falling as the global economic recovery failed to gain momentum.

“The balance of trade in goods (BOT-G) for the Philippines in July 2016 registered a deficit of $2.053 billion, higher than the $1.475 billion trade deficit in the same month last year,” the Philippine Statistics Authority (PSA) said in a statement released with the trade data.