A boat passes by idle port cranes at the Manila International Container Terminal inside the Port of Manila on May 6, 2020, the day the Philippine Statistics Authority announced that the country’s trade deficit narrowed to $2.38 billion in March from the amount in the same month last year. PHOTO BY ENRIQUE AGCAOILI
The country’s trade deficit shrank in March from a year earlier, but ballooned from the month before, as both exports and imports fell by more than 20 percent, the Philippine Statistics Authority (PSA) reported on Wednesday.