Philippine Trade Deficit Hits Near 4-Year High in April

The Philippines' trade deficit widened to its highest level in nearly four years in April, driven by a surge in imports that outpaced export growth. According to data released by the Philippine Statistics Authority, the country's trade gap reached $5.2 billion, the largest since July 2020. Imports rose by 12.6% year-on-year to $10.5 billion, fueled by increased purchases of raw materials and capital goods. Meanwhile, exports grew by only 4.2% to $5.3 billion, as demand for electronic products and agricultural goods softened. Economists noted that the widening deficit could put pressure on the peso and may prompt the central bank to adjust monetary policy.