Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

March export growth fastest in more than 10 years

THE COUNTRY’S trade-in-goods deficit narrowed in March as exports grew at its fastest pace in a decade, the Philippine Statistics Authority reported this morning.

Merchandise exports grew 31.6% to $6.68 billion following an annual decline of 1.5% in February, preliminary data by the PSA showed.

The export tally for March was bigger than $5.35 billion and $5.08 billion in February 2021 and March 2020, respectively.

Meanwhile, merchandise imports expanded by 16.6% to $9.10 billion in March, higher than the 8.9% growth in the previous month.

For exports, the March result was the fastest in more than 10 years, or since the 46.8% growth in September 2010. Meanwhile, import growth was fastest in 29 months or since the 26.2% print in October 2018.

This brought trade deficit to $2.41 billion in March, smaller than the $2.71-billion gap in February, as well as the $2.73-billion shortfall posted in March 2020.

Year to date, exports increased by 7.6% to $17.56 billion compared with the Development Budget Coordination Committee’s (DBCC) projection of a 5% growth for the year.

Likewise, imports were up 3.2% to $25.56 billion on a cumulative basis compared with $24.76 billion the previous year. This was still below DBCC’s 8% target this year.

That brought the year-to-date trade balance to an $8-billion deficit, narrower than last year’s deficit of $8.45 billion. — L.O. Pilar

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

Nikola, an electric truck startup, saw its stock price fly high as it went public and announced a deal with General Motors. A damning...

Stock

Stock Markets8 minutes ago (Jul 31, 2020 07:50PM ET) (C) Reuters. FILE PHOTO: James Murdoch, the son of media mogul Rupert Murdoch, and his...

Editor's Pick

TikTok is one of the most rapidly growing platform. People across all the spectrum of age, gender, communities are joining the platform to...

Top News

SEC probing Nikola Motors over short-seller claims of fraud – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-14T23:20:04Z Massimo Pinca/Reuters The Securities and...

Disclaimer: SecretsOfRichDads.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Secrets Of Richdads. All Rights Reserved.

    Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!