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Philippine exports and imports surged in February 2024, marking their fastest growth in 16 months, according to the Philippine Statistics Authority .
The trade deficit amounted to $3.65 billion in February 2024, lower than the $3.88-billion shortfall registered in the same month last year. Data from the PSA showed that top exports in February were electronic products, amounting to $3.42 billion, up by 26.8 percent from $2.7 billion a year ago. Shipments of coconut oil surged 62 percent to $116.5 billion, while sales of fresh bananas climbed 21 percent to $102 billion.Other manufactured goods posted an export value of $290.31 million, while other mineral products amounted to $208.82 million.
Imports in the first two months went down by 0.5 percent to $19.88 billion from $19.98 billion in the same period last year.
Philippines Latest News, Philippines Headlines
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