7-11-2023 (MANILA) Preliminary official data released on Tuesday revealed that the Philippines faced a trade deficit of $3.5 billion for the month of September. The figures, released by the Philippine Statistics Authority, highlighted the challenges in the country’s trade dynamics.
In September, the nation witnessed a significant decline in its imports, which contracted by 14.7 percent, amounting to $10.2 billion compared to the same period in the previous year. Meanwhile, exports also faced a downturn, falling by 6.3 percent to $6.7 billion.
