Philippines posts widest trade gap in 20 months

November 8, 2024 - 9:54 AM
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Shipment to Canada
The ship Anna Maersk is docked at Roberts Bank port carrying 69 containers of mostly paper and plastic waste returned by the Philippines in Vancouver, British Columbia, Canada June 29, 2019. (Reuters/Jason Redmond)

 The Philippines posted a trade deficit PHTBAL=ECI of $5.09 billion for Septemberthe largest gap in 20 months, preliminary official data showed on Wednesday.

Imports PHIMP=ECI in September rose by an annual 9.9%, the largest increase since April, to $11.34 billion.

Exports PHEXP=ECI fell 7.6%, the biggest drop since June, to $6.26 billion, the Philippine Statistics Authority said.

—Reporting by Mikhail Flores and Neil Jerome Morales; Editing by John Mair