Philippines posts $3.2 billion trade deficit in March

MANILA (Reuters) – The Philippines posted a trade deficit of $3.2 billion in March, the narrowest since May 2021, preliminary official data showed on Wednesday.

Imports fell 20% to $9.3 billion in March from a year earlier, the biggest drop since a 20.8% drop in July 2020, while exports fell 7.3% to $6.13 billion, the Philippine Statistics Authority said.

(Reporting by Mikhail Flores and Neil Jerome Morales; Editing by John Mair)