MANILA, Philippines — Trade lost its recently found momentum in January, with exports reverting back to negative territory and imports languishing in the red for the past 21 months. Total trade reached $13.4 billion at the first month of 2021, down 11.1% year-on-year, the Philippine Statistics Authority reported on Friday. More specifically, imports still disappointed having dropped for 21 straight months now decreasing 14.9% annually to $7.91 billion in January. As to exports, shipments went down 5.2% year-on-year to $5.49 billion, halting 2 straight months of expansion, data showed. With imports surpassing exports, the trade deficit reached $5.49 billion in January, narrower by 5.2% year-on-year.

Source: Philippine Star March 12, 2021 10:30 UTC