Daily News

Import drop flagged, as exports post first fall in 6 months

The country’s trade gap shrank from a year ago in September as a bigger decline in merchandise imports tempered the impact of the first drop in six months for foreign sales of Philippine goods, according to data which the Philippine Statistics Authority (PSA). Philippine merchandise exports fell by 2.6% to $5.898 billion in September — the first time in six months that sales abroad of Philippine goods declined — while imports dropped for the sixth month in a row by 10.5% to $9.017 billion. That made the trade deficit narrow by 22.5% to $3.119 billion in September.