Trade deficit widens to $4.87 B in July

The country registered a $4.87 billion trade deficit in July, the widest shortfall in 16 months as both exports and imports posted increases.

- LOUELLA DESIDERIO

Preliminary data from the Phil ippine Statist ics Authority showed the balance of trade in goods or the difference between the value of exports and imports amounted to a $4.87 billion deficit in July, 18 percent wider than the $4.12 billion shortfall in the same month last year.

This is also the biggest trade gap since the $5.02 billion deficit in March last year.

In the January to July period, however, the country’s trade deficit narrowed to $29.91 billion from $31.75 billion in the same period last year.