As per the recent notification in the Philippines' MANILA, both exports and imports slowed in February, and the nation's trade deficit decreased. According to
import export data, the trade deficit decreased by 2.7% from the previous year to $3.88 billion in February.
When a nation's import expense exceeds its export revenue, a trade deficit results.Comparing the February disparity to the $5.73 billion in January, it was noticeably smaller.
The nation's overall external commerce fell 14.4% year over year to $14.03 billion in February. Compared to the $16.2 billion reported in the previous month, this was worse.
Data analysis revealed that in February, exports fell 18.1% from the previous year to $5.08 billion. The main export from the nation, electronic goods, saw a 22.2% annual decline to $2.68 billion.
Additionally, imports fell, falling 12.1% on-year to $8.95 billion in February. Lower shipments of electronic goods into the nation contributed to the sudden fall. R. Royandoyan
