THE Philippines’ trade deficit narrowed in July as imports dropped amid double-digit growth in exports, the Philippine Statistics Authority (PSA) reported on Tuesday.
“The country’s balance of trade in goods (BoT-G) registered $1.65 billion in deficit in [July] 2017, lower than the $2.37 billion in July 2016,” the PSA said.
Exports rose by 10.4 percent to $5.28 billion year-on-year while imports eased by 3.2 percent to $6.93 billion. In the first seven months of 2017, the trade deficit narrowed by 4.6 percent to $14.66 billion from $15.37 billion in 2016. MAYVELIN U. CARABALLO