Of the total external trade in May 2024, the agency said 63.3 percent were imported goods, while the rest were exported goods.
The PSA said the balance of trade in goods or the difference between export and import value in May 2024 amounted to -4.60 billion dollars, indicating a trade deficit with an annual increase of 4.5 percent.
China was the Philippines' largest supplier of imported goods, valued at 2.73 billion dollars or 25 percent of the country's total imports in May.
The United States contributed the highest export value in May, with 1.08 billion dollars, or 17 percent of the total exports.
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