MANILA  -The Philippines' deficit in the trade of goods continued to shrink, this time by 30 percent year-on-year to $4.2 billion in July from $6 billion in the same month last year as volume of global traffic slid following a rapid, postpandemic boost. Preliminary data at the Philippine Statistics Authority also showed that the trade gap was wider than $3.9 billion in June when the deficit surged by 33 percent. Last July, export receipts decreased by 1.2 percent to $6.1 billion from $6.2 billion in the same month of 2022.

https://business.inquirer.net/419943/july-trade-gap-narrowed-as-import-bill-dropped

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