Philippine imports declined at a faster pace in March, the latest figures from the National Statistics Office showed Friday.
Imports fell 8.4 percent year-on-year in March, faster than a 5.8 percent decline in February. Imports have now declined for three consecutive months.
In March, imports totaled $4.922 billion. Exports showed a slight 0.1 percent year-on-year increase to $4.329 billion during the month. Thus, the balance of trade in goods registered a deficit of $593 million, less than $1.048 billion deficit in the same month last year.
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