Trade Gap Narrows to $4 Billion in July

The country's trade deficit narrowed in July as exporters front-loaded shipments to beat the United States' reciprocal tariffs, which took effect on Aug. 7.

- By Louella Desiderio

Preliminary data from the Philippine Statistics Authority (PSA) yesterday showed that the balance of trade in goods or the difference between exports and imports in July amounted to a $4.05 billion deficit, down by 17 percent from the $4.88 billion gap in the same month last year.

The July trade shortfall was also smaller than the $4.4-billion trade gap booked in June.

Moody's Analytics economist Sarah Tan said the trade balance improved in July as exports growth outpaced imports.

PSA data showed the country's merchandise exports in July rose by 17 percent to $7.34 billion from $6.25 billion in the same month last year.