Philippine imports dropped at a faster pace in April, the latest figures from the National Statistics Office showed Tuesday.
Imports plunged 13.7 percent year-on-year in April to $4.770 billion. This followed a 3.3 percent drop in March. On a monthly basis, overseas purchases fell 11.2 percent.
However, exports increased 7.6 percent year-on-year to $4.635 billion during the month. Thus, the balance of trade in goods registered a deficit of $135 million, down from $1.219 billion deficit in the same period last year.
by RTT Staff Writer
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