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Hotline:+ 86-771-12343

The important note

The 15th CAEXPO will be held on:

Sep 12th-15th,2018 8:30-17:00 (Trade Days)

Sep. 15th,2018(Public Day)

Asia News

PH trade deficit stays above $3 billion, imports up 11 percent

Source: ABS-CBN News    Time:2018-10-12 09:00:25
The Philippines' trade deficit stayed well above $3 billion for the fifth month in a row in August as import growth outpaced exports, government data showed on Wednesday.
 
Exports grew 3.1 percent from a year ago and imports rose 11 percent, the Philippine Statistics Authority said. 
 
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Chart by ABS-CBN Data Analytics Group
 
The trade deficit reached $3.513 billion in August as imports hit $9.677 billion, the highest this year, while exports were at
$6.163 billion. 
 
In August 2017, the trade gap was $2.737 billion.
 
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Chart by ABS-CBN Data Analytics Group
 
China was the top market for Philippine exports in August at $939 million, with the US coming in a close second at $934 million. 
 
The Philippines also imported the most from China with receipts at $1.92 billion. South Korea and Japan came second and third respectively.
 
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Chart by ABS-CBN Data Analytics Group
 
The trade gap has swollen to $26 billion this year, 65 percent higher compared to the same period last year.
 
This has added pressure on the peso, which has been languishing near 13-year lows against the US dollar.

(The photo and article are derived from ABS-CBN News. Please advise us to remove immediately if any infringement caused.)

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