Trade Shortfall Narrows in June

The Philippines' trade gap narrowed in June as exports increased at a faster pace than imports.

- By Louella Desiderio

Preliminary data released by the Philippine Statistics Authority (PSA) yesterday showed that the balance of trade in goods—the difference between the value of exports and imports—amounted to a $3.95-billion deficit in June, nine percent lower than the $4.34 billion shortfall in the same month last year.

The June trade gap, however, widened by nine percent from the previous month's $3.63 billion deficit.

From January to June, the country posted a slimmer trade deficit of $23.97 billion compared to the $25.06 billion trade shortfall in the same period last year.

Merchandise exports went up by 26 percent to $7.02 billion in June from $5.57 billion in the same month last year.

Electronic products registered the highest increase in exports value in June, growing by 30 percent to $3.89 billion from $2.99 billion in the same month in 2024.