Philippine trade gap widens to near 4-year high in April

MANILA, Philippines – The Philippines’ trade deficit surged 49.8 percent to $5.97 billion in April as imports grew more than twice as fast as exports, fueled by higher oil prices linked to the Middle East conflict. Preliminary data from the Philippine Statistics Authority showed the April trade gap was the widest since August 2022, when the deficit reached $5.99 billion. READ: Philippine trade deficit hits 6-month high in March Imports surged 22.4 percent year-on-year to $13.17 billion, outpacing the 6.3-percent increase in exports to $7.21 billion. /pai... Keep on reading: Philippine trade gap widens to near 4-year high in April

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