September Balance of Trade Balloons to USD 5.09 Billion

A weak global economy with a strong local demand for capital goods and raw materials drove the trade deficit to a negative USD 5.09 billion this September 2024, analysts say. According to the national statistics, raw materials and intermediate goods topped the list of imports for the said month, while electronic products remained the country’s top export. As of September 2024, China was the top supplier of the Philippines’ imported goods, and the United States (US) was the main export destination of the country’s exported goods.

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