Trade gap widens to $11.9 B in 6 monthsImports grow 15.4% in JuneThe Philippines remained Asia’s top imports performer in the first half of the year despite the slower growth and wider trade deficit, data from the Philippine Statistics Authority (PSA) said. Based on the PSA report, the country’s balance of trade in goods June this year registered a deficit of $2.1 billion, higher than the $576.8 million gap in the same month last year. June’s import figure brought the trade deficit in the first six months of the year to $11.9 billion. Likewise, imports of consumer goods increased by 32.6 percent to US$1.2 billion in June, 2016. He added that it remains important to support growth enhancing measures that will sustain consumption and investment.

Source: Manila Bulletin August 25, 2016 14:25 UTC