MANILA, Philippines — The Philippines’ trade deficit persisted last month on the back of marginal increase in imports and weaker exports, the government reported on Wednesday. The country’s balance of trade in goods swung to a $2.61 billion deficit in March, wider than the $2.10 billion shortfall a year ago but narrower than the $3.06 billion gap last February. Exports went down by 8.21 percent to $5.5 billion in March from $6.00 billion a year ago. This would translate to a higher trade deficit this year," said Guian Angelo Dumalagan, market economist at the Land Bank of the Philippines. "Last quarter's trade deficit is expected to subtract some points from growth.

Source: Philippine Star May 09, 2018 03:56 UTC