Philippine trade deficit widens by 23% to $4.1B in March

MANILA, Philippines — The country’s trade deficit widened by 23 percent in March on the back of a double-digit growth in imports, the Philippine Statistics Authority (PSA) reported on Wednesday. PSA data showed the trade deficit in March had amounted to $4.1 billion, bigger than the $3.

4 billion gap a year ago. Exports grew by 5.9 percent to $6.



6 billion while imports expanded by 11.9 percent to $10.7 billion.

READ: Philippine exporters brace for underperformance in 2025 By commodity group, electronic products continued to be the country’s top exports in March with total earnings of $3.64 billion or 55.2 percent of total during the period.

This was followed by other manufactured goods with an export value of $434.41 million (6.6 percent) and other mineral products with $246.

56 million (3.7 percent). Electronic products likewise accounted for the biggest bulk of imports in March amounting to $2.

52 billion or 23.5 percent of total. This was followed by mineral fuels, lubricants and related materials at $1.

31 billion (12.2 percent) and transport equipment at $1.06 billion (9.

9 percent). READ: Philippine trade deficit fell 11.4% in February Subscribe to our daily newsletter By providing an email address.

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