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The Philippine trade deficit narrowed in June as exports contracted at a faster rate than imports during the month, data released by the government on Tuesday showed.Preliminary data from the Philippine Statistics Authority showed that the balance of trade in goods posted a $4.303-billion deficit in June, lower than the $4.707-billion deficit in May but wider than the $3.936 billion in June 2023.
4%, and total agro-based products with $473.49 million or 7.9%.Shipments to the United States accounted for the highest export value with $897.80 million, followed by Hong Kong with $886.64 million, China with $868.44 million, Japan with $746.97 million, and South Korea with $240.26 million.Imports for the month were recorded at $9.869 billion, down from $11.038 billion in May and $10.667 billion in June 2023.In terms of commodity groups, electronic products accounted for $2.23 billion or 22.
Philippine Economy Balance Of Trade In Goods
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