ZCZC
BCN-32
PHILIPPINES-TRADE-DEFICIT
Philippines’ trade deficit widens in September 2018 as imports surge
MANILA, Nov. 7, 2018 (BSS/Xinhua) – The Philippines’ trade deficit widened
in September this year as imports continued to surge outpacing exports that
declined during the month, the government said on Wednesday.
The Philippine Statistics Authority (PSA) said the Philippines’ deficit
widened to 3.93 billion U.S. dollars in September 2018, from the 1.75 billion
U.S. dollars deficit recorded in Sept. 2017.
The PSA said the Philippines’ total external trade in goods in September
2018 amounted to 15.58 billion U.S. dollars, reflecting an increase of 13.5
percent from 13.72 billion U.S. dollars recorded during the same month in
2017.
“Exports decline by 2.6 percent while imports grow by 26.1 percent,” the
PSA said in a statement.
Total exports valued at 5.83 billion U.S. dollars in September 2018
declined by 2.6 percent, from 5.99 billion U.S. dollars in September 2017,
the PSA said.
On the other hand, the PSA said total imports rose to 9.75 billion U.S.
dollars in September 2018 from 7.77 billion U.S. dollars in September 2017 or
a growth rate of 26.1 percent.
China was the country’s biggest supplier of imports with 19.0 percent
share in September 2018, the PSA said, adding that import bills to China
registered an amount of 1.86 billion U.S. dollars or an increase of 38.5
percent, from 1.34 billion U.S. dollars in September 2017.
The PSA said China placed fourth with 722.62 million U.S. dollars or 12.4
percent of the total exports. “This went down by 5.7 percent from an export
value of 766.63 million U.S. dollars posted in September 2017,” the PSA said.
BSS/XINHUA/HR/1440