May 9, 2018 / 1:24 AM / 2 months ago

Philippines' trade deficit narrows in March as imports slow

    MANILA, May 9 (Reuters) - The Philippine Statistics
Authority on Wednesday released preliminary data on March
exports and imports:
    
 KEY DATA                 Mar    Feb    Jan   Dec    Nov    Oct
 Total exports ($bln)    5.51   4.66   5.37  5.08   5.02   5.39
 yr/yr chg (pct)         -8.2   -1.8    3.5   2.3    2.7    7.1
 Electronics ($bln)      3.22   2.58   2.62  2.86   2.88   2.86
 yr/yr chg (pct)          6.8    4.6   10.8    15   12.7   13.8
                                                               
 Total imports ($bln)    8.12   7.72   8.54  8.92   8.86   8.21
 yr/yr chg (pct)          0.1   18.6   11.4  20.0   20.1   13.1
 Electronics ($bln)      2.22   1.97   2.23  2.15   2.42   2.25
 yr/yr chg (pct)          6.7   13.5   18.9  20.3   23.4   23.3
                                                               
 Trade balance ($bln)   -2.61  -3.07  -3.16  -3.8  -3.85  -2.82
                                                4         
 
    - The decline in exports was led by a drop in the shipment
of machinery and transport equipment, gold, coconut oil, among
others.
    - Double digit drops in the purchases of transport
equipment, industrial machinery equipment, and manufactured
articles significantly slowed imports growth in March. 

 (Reporting by Karen Lema and Enrico dela Cruz; Editing by Biju
Dwarakanath)
  
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