Key facts
- The Philippines' merchandise trade deficit increased by 49.8% year-over-year in April.
- The Philippines' merchandise trade deficit reached $4.08 billion in April.
- Philippines imports rose by 22.4% in April.
- Philippines exports grew by 6.3% in April.
- Pakistan's merchandise trade deficit decreased by 13.7% year-over-year in May.
- Pakistan's merchandise trade deficit reached $2.58 billion in May.
- Pakistan imports fell by 6.6% in May.
- Pakistan exports increased by 1.3% in May.
The Philippines experienced a significant widening of its merchandise trade deficit in April, with a 49.8% year-over-year increase bringing the total to $4.08 billion. This expansion is attributed to a substantial 22.4% rise in imports during the month. Exports, meanwhile, grew at a slower pace of 6.3%, falling below market expectations. This imbalance indicates a growing gap between the value of goods imported and exported by the Philippines.