THE Philippines’ trade deficit narrowed by 33.3 percent to $3.9 billion in June this year, the state statistics bureau said yesterday.
Total exports reached $6.7 billion in June, slightly higher compared to the $6.64 billion in the same comparable period, data from the Philippine Statistics Authority (PSA) showed.
This brought the total export earnings from January to June 2023 to $34.94 billion, lower by 9.3 percent from a year ago, the PSA said.
Major export trading partners include the United States, China, Hong Kong, Japan, and Korea.
Meanwhile, the total value of imported goods in June amounted to $10.62 billion, which is lower compared to the $12.62 billion in the same month last year, according to data.
From January to June 2023, the total import value reached $68.38 billion.
China is the country’s biggest supplier of imported goods at $2.38 billion, comprising 22.4 percent of the country’s total imports in June, the PSA said. Other major import partners are Indonesia, Japan, Singapore, and the US.
For the month, the total external trade in goods amounted to $17.32 billion, declining by 9.6 percent compared to the $19.17 billion in the same period the previous year, data showed. (ABS-CBN News)
