PH posted record trade deficit of $41.44 billion in 2018

MANILA, Philippines -- The Philippines posted a record trade deficit of $41.44 billion in 2018 as imports climbed while exports dropped last year. National Statistician Lisa Grace S. Bersales confirmed to the Inquirer that the trade-in-goods deficit posted in 2018 was the biggest in Philippine history. Preliminary Philippine Statistics Authority (PSA) data released Tuesday showed that the trade deficit continued to widen from $26.702 billion in 2016 and $27.38 billion in 2017. Last year, merchandise exports declined 1.8 percent to $67.488 billion from the $68.713-billion worth of Philippine-made goods sold overseas in 2017. On the other hand, imports jumped 13.4 percent t...

Keep on reading: PH posted record trade deficit of $41.44 billion in 2018