The Philippines’ trade deficit swelled ninety three percentage in August from a year earlier as exports continued to decline while imports surged, authorities facts confirmed on Tuesday.
“The stability of change in items (BOT-G) for the Philippines in August 2016 registered a deficit of $2.023 billion, higher than the $1.048 billion change deficit within the identical month closing 12 months,” the Philippine Statistics Authority (PSA) stated in a announcement launched with the alternate data.
Export income in the month fell four.4 percentage yr-on-year to $four.904 billion from $five.128 billion, while overall imports rose 12.2 percent to $6.927 billion from $6.176 billion.
The exchange hole in August, however, became narrower than the $2.058 billion deficit recorded in July this year.
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