MANILA – The Philippines posted its widest commerce deficit in 5 months for January as exports fell sharply, pointing to a worsening commerce steadiness that might put stress on the peso within the close to time period.
The commerce hole in January widened by 27.2 p.c to $5.74 billion, the largest for the reason that file month-to-month deficit of $6 billion in August, from $4.5 billion in the identical month final 12 months, preliminary information from the Philippine Statistics Authority confirmed on Tuesday.
Exports noticed the steepest decline in practically three years, down 13.5 p.c to $5.2 billion from a 12 months earlier, whereas imports grew 3.9 p.c to $11 billion from the identical interval in 2022.
It was the primary month-to-month rise for impo…
Carry on studying: Philippines posts greatest commerce deficit in 5 months