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Philippine Trade Deficit Narrows In April

The Philippine trade deficit decreased in April from last year, amid a fall in exports and imports, data from the Philippine Statistics Authority showed on Wednesday.

The trade deficit declined to $499.21 million in April from $3.798 billion in the same month last year. In March, the trade deficit was $2.37 billion.

Exports plunged 50.8 percent annually in April, following a 24.7 percent fall in March. This was the biggest annual decrease since January 2009.

The annual fall was driven by weaker shipments of other manufactured goods, machinery and transport equipment and coconut oil.

Imports decreased 65.3 percent year-on-year in April, following a 26.2 percent fall in the previous month.

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