Philippine total external trade grows 8.8pc in April

Published: June 08, 2018 15:19:05 | Updated: June 12, 2018 14:37:04


The Philippines' total external trade in goods in April totaled $13.84 billion, posting a growth of 8.8 per cent from $12.73 billion recorded in April 2017, the Philippine Statistics Authority (PSA) said on Friday.

The PSA said the total exports dipped by 8.5 per cent from 5.59 billion US dollars in April 2017 to $5.11 billion in April 2018.

On the other hand, the PSA said total imports increased to $8.73 billion in April 2018 from $7.14 billion in April 2017 or an annual growth rate of 22.2 per cent, reports Xinhua.

Furthermore, the PSA said the country's balance of trade in goods expanded to a $3.62 billion deficit in April 2018, higher than the $1.55 billion deficit in April 2017.

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