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Total trade shrinks in April, first full month of virus lockdown
Total trade shrinks in April, first full month of virus lockdown
ABS-CBN News
Published Jun 10, 2020 10:09 AM PHT
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Updated Jun 10, 2020 10:29 AM PHT
Container vans stacked together are seen inside the Philippine Ports Authority (PPA) compound in Manila on April 1, 2020. George Calvelo, ABS-CBN News/File
MANILA - The Philippines' total external trade shrank further in April, the first full month of lockdown against COVID-19, government data released Wednesday showed.
Total external trade dropped 59.8 percent to $6.07 billion in April, steeper than the 25.6-percent decline in March, the Philippine Statistics Authority said.
Exports in April fell 50.8 percent to $2.78 billion from $5.65 billion in the same month last year, the PSA said. Imports fell 65.3 percent to $3.28 billion during the same comparable period, it said.
Bulk of the country's exports for April went to the Asia-Pacific Economic Cooperation members while China has the highest import value followed by Japan, Korea, USA and Taiwan.
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The import value of personal protective equipment and medical supplies, used to fight the coronavirus pandemic, reached $20.9 million or an annual growth of 37.9 percent, data showed.
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