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Asia, Forex

Philippines’ Feb trade deficit smallest in three months

MANILA, April 8 (Reuters) – The Philippines recorded a $2.29 billion trade deficit in February, the smallest in three months, as the value of imports fell to the lowest since June last year, while a decline in exports slowed, official data showed on Thursday.

Exports in February contracted 2.3% to $5.3 billion from a year earlier, versus a 4.8% drop in January. Imports rose 2.7% to $7.6 billion, the Philippine Statistics Authority said. (Reporting by Neil Jerome Morales and Enrico Dela Cruz Editing by Ed Davies)

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