THE COUNTRY’S exports and imports continued to plunge, albeit at a slower pace in June, the Philippine Statistics Authority (PSA) reported this morning. 
Merchandise exports shrank by 13.3% to $5.33 billion in June after a 26.9% yearly decline in May, preliminary trade data from the PSA showed.
Likewise, merchandise imports fell 24.5% to $6.63 billion in June, slower than the 40.6% plunge recorded in May.
The June export fall marked the fourth straight month of decline. For merchandise imports, the decline is on its 14th straight month.
Trade deficit in June was recorded at $1.30 billion, lower than the $2.64-billion gap in the same month last year.
For the six months to June, exports were down 17.8% to $28.43 billion, well below the four-percent contraction expected by the Development Budget Coordination Committee (DBCC) this year
Meanwhile, the merchandise import bill dropped 29% to $39.03 billion on a cumulative basis against the DBCC’s target of a 5.5% contraction for the year.
That brought the year-to-date trade balance to a $10.60-billion deficit, smaller than $20.42-billion shortfall in the same six months last year. – Jobo E. Hernandez

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