Philippines’ total external trade declines by 11.3 pct in June

MANILA, Aug. 6 (Xinhua) — The Philippines’ total external trade in goods decreased by 11.3 percent in June 2024 to 15.44 billion U.S. dollars from 17.4 billion dollars in June 2023, the Philippine Statistics Authority (PSA) said Tuesday.
Of the total external trade in June, the agency said 63.9 percent were imported goods, while the rest were exported goods.
The PSA said the balance of trade in goods, the difference between export and import value, amounted to -4.3 billion dollars in June, indicating a trade deficit with an annual increase of 9.3 percent.
China was the Philippines’ largest supplier of imported goods, valued at 2.6 billion dollars, or 26.3 percent of the country’s total imports in June, the agency said.
The United States contributed the highest export value in June, with 897.8 million dollars, or 16.1 percent of the total exports in June, the PSA said. ■