MANILA, Oct 11 (NNN-PNA) – The Philippines’ total external trade in goods, declined by 7.2 percent in Aug this year, to 17.53 billion U.S. dollars from 18.89 billion dollars in Aug, 2022, the Philippine Statistics Authority (PSA) said yesterday.
Of the total external trade in Aug, the agency said, 61.8 percent were imported goods, while the rest were exported goods.
The PSA said, the balance of trade in goods, or the difference between the value of exports and imports, amounted to -4.13 billion dollars in Aug this year, indicating a trade deficit, with an annual decrease of 31.5 percent.
China was the Philippines’ largest supplier of imported goods, valued at 22.4 percent of the country’s total imports in Aug, the PSA said.
Exports to the United States comprised the highest export value in Aug, amounting to 1.1 billion dollars, or a share of 16.4 percent of the total exports, it added.– NNN-PNA
