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Philippines' total external trade up by 21.5 pct in May

MANILA
2022-07-12 13:18

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MANILA, July 12 (Xinhua) -- The Philippines' total external trade in goods rose by 21.5 percent in May to 18.30 billion U.S. dollars, the Philippine Statistics Authority (PSA) said on Tuesday, adding that China remains its biggest trading partner.

Of the total external trade in May, the agency said 65.5 percent were imported goods, while the rest were exported goods.

The PSA said the balance of trade in goods amounted to minus 5.68 billion U.S. dollars, indicating a trade deficit with an annual increase of 78.6 percent.

The data showed that China was the Philippines' biggest supplier of imported goods, valued at 2.43 billion U.S. dollars, or 20.3 percent of the total imports in May. China also contributed the fourth-highest export value in May with 13.7 percent of May's total exports.
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