Trade deficit hits 5-month high

THE country's trade deficit hit a five-month high in April as import growth markedly outpaced exports, preliminary Philippine Statistics Authority data showed on Tuesday.At $4.76 billion, the shortfall rose from $3.44 billion in March but was narrower than the year-earlier $4.83 billion. It was the highest since the $4.77 trillion recorded in November last year.Total trade in goods rose by 17.2 percent to $17.19 billion, from $14.

6 percent higher at $24.19 billion while exports fell 2.2 percent to $40.46 billion.Electronics remained the country's top export, amounting to $3.57 billion in April or 57.4 percent of the total and up from $2.67 billion a year earlier.Hong Kong was the biggest buyer of Philippine-made goods during the month, having purchased $1.03 billion worth or 16.5 percent of total exports.Rounding out the top five were the United States , Japan , China , and South Korea .

Deficit Hits 5-Month High

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