Philippines trade deficit at $4.9 billion in July

MANILA – The Philippines posted a trade deficit of $4.9 billion for July, preliminary official data showed on Tuesday.

Imports in July rose 7.2% from a year earlier to $11.1 billion, while exports rose just 0.1% to $6.2 billion, the Philippine Statistics Authority said.

The trade deficit in July was the largest since the $4.9 billion shortfall in March 2023, while import growth was the fastest since the 12.6% expansion in April this year. – Reuters