May Trade Deficit Up 23%

Exports rose 13.7 percent to $5.489 billion last May, while imports grew 16.6 percent to $8.242 billion. This resulted in a deficit of $2.753 billion, up 23 percent from $2.240 billion in 2016. The government said that the growing trade deficit was largely due to higher imports of capital goods used for manufacturing, which should be considered a positive development as it spurs economic activity…

Subscribe via email for complete access to Supreme Consult’s weekly report on political and investment risks in the Philippines.