Strong export growth trims Philippine trade deficit in June
Provided by Philippine Daily Inquirer.
MANILA, Philippines — The country's trade deficit narrowed in June on the back of strong exports growth, the Philippine Statistics Authority (PSA) reported on Wednesday.
The Philippine trade gap amounted to $3.95 billion, 8.8 percent smaller compared with the level a year ago. This sustained the improvement in trade balance seen in May.
READ: Philippine trade deficit shrinks in May on strong exports
Broken down, imports grew by 10.8 percent to $10.98 billion while exports surged by 26.1 to $7 billion.
By commodity group, electronic products continued to be the top export product in June with total earnings of $3.89 billion or 55.4 percent of total exports during the period.
READ: Trade deals boosting risk appetite in Asia, including the Philippines
This was followed by other mineral products with an export value of $491.03 million (7 percent), and other manufactured goods with $361.14 million (5.1 percent). /dda
READ: ‘1% plus plus’: Understanding the Philippine-US tariff talks
(2025/07/30-11:32)
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