2021.05.0701:23:00UTC+00Philippines March Trade Deficit $2.412 Billion

The Philippines posted a merchandise trade deficit of $2.412 billion in March, government data showed on Friday - following the $2.293 billion shortfall in February.

Exports surged 31.6 percent on year after slipping 2.3 percent in the previous month, while imports jumped an annual 16.6 percent after gaining 2.7 percent a month earlier.

The bureau also said that industrial production plummeted by 74.2 percent on year after sinking an upwardly revised 46.4 percent in February (originally down 46.5 percent).

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