Philippines' Feb trade deficit smallest in 3 months

Reuters

Posted at Apr 08 2021 10:21 AM

Lights illuminate the shipyard accross the Baseco Compound in Tondo Manila on November 09, 2020. Jonathan Cellona, ABS-CBN News

MANILA - The Philippines recorded a $2.29 billion trade deficit in February, the smallest in three months, as the value of imports fell to the lowest since June last year, while a decline in exports slowed, official data showed on Thursday.

Exports in February contracted 2.3 percent to $5.3 billion from a year earlier, versus a 4.8 percent drop in January. Imports rose 2.7 percent to $7.6 billion, the Philippine Statistics Authority said.

More details to follow.