February Trade Deficit Lowest in Nearly 4 Years

The country posted its smallest trade deficit in almost four years in February as exports picked up while imports declined.

- Louella Desiderio

Preliminary data from the Philippine Statistics Authority (PSA) yesterday showed that the country's balance of trade—the difference between exports and imports—amounted to a $3.16-billion deficit in February, 11 percent lower than the $3.56 billion shortfall in the same month last year.

This is the lowest trade deficit since the April 2021 trade shortfall of $3.09 billion.

The February trade deficit is also lower than the previous month's $5.12 billion trade gap.

PSA data showed that the country's exports of goods rose by four percent to $6.25 billion in February from $6.02 billion in the same month in 2024.

Posting the highest increases in exports value in February were coconut oil, which went up by $132.53 million, other manufactured goods, which rose by $106.09 million and electronic products, which were up by $87.05 million.