Export earnings drop for third straight month | Cai U. Ordinario

📆 12/04/2023 07:00:00
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The country’s export earnings contracted for the third consecutive month in February, according to the Philippine Statistics Authority (PSA). Know more:

The country’s export earnings contracted for the third consecutive month in February, according to the Philippine Statistics Authority .

“The commodity group with the highest annual decline in the value of exports in February 2023 was electronic products, which dropped by $765.48 million,” PSA said. Meanwhile, the country’s total import bill contracted by 12.1 percent year-on-year to $8.95 billion in February. PSA data showed that in January 2023, the trade deficit recorded an annual growth of 27.1 percent and in February 2022, it posted an annual increase of 47.2 percent.

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