Preliminary data released by the Philippine Statistics Authority on Tuesday showed that the balance of trade in goods posted a $3.918-billion deficit in June.
Exports for the month stood at $6.699 billion, 0.8% higher than the $6.644 billion in June 2022, and 2.4% higher than the $6.473 billion in May. The United States was the country’s biggest export partner for the month, with $1.12 billion or 16.7% of the total shipments. It was followed by China with $999.19 million or 14.9%, Hong Kong with $957.88 million or 14.3%, Japan with $945.52 million or 14.1%, and South Korea with $335.08 million or 5.0%.
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