8-9-2023 (MANILA) The Philippines recorded a year-on-year decline of 10.5 percent in its total external trade in goods for July, with the value standing at $16.49 billion, according to the Philippine Statistics Authority (PSA).
Of this total, 62.7 percent constituted imported goods, with the remaining percentage attributed to exported goods, the agency stated.
Furthermore, the trade deficit in goods amounted to $4.20 billion, reflecting a 30 percent annual decrease. In June, the trade deficit had experienced an annual decline of 31.9 percent.
China maintained its position as the Philippines’ largest supplier of imported goods in July.
