Philippines May trade deficit widens to US$5.7 billion as imports rise

MANILA, July 12 (Reuters): The Philippines posted a $5.7 billion trade deficit in May, the widest gap based on data running to January 2020, as imports grew at the fastest pace since December, government data showed on Tuesday.

Imports rose 31.4% from a year earlier to $12 billion , reflecting higher costs of goods led by fuel, while exports increased 6.2% to $6.3 billion.