Business
CROSS-SPECTRUMBROAD COVERAGE
Philippine exports hit record high in August, narrowing trade deficit
Philippine exports rose sharply in August, reaching a record $9.11 billion and reducing the trade deficit for the first time since January.
Data from the Philippine Statistics Authority show that August exports jumped 27.8 percent to $9.11 billion, up from $7.13 billion a year earlier. The surge was driven mainly by strong shipments of electronics. As a result, the country's trade deficit narrowed, marking the first improvement since January. Officials highlighted the performance as a positive sign for the economy.
Why it matters
Higher exports and a smaller trade deficit signal improving economic health for the Philippines.
In this story
Philippine exportstrade deficitelectronics shipmentsrecord higheconomic recovery
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