MANILA, Philippines —Trade of goods in and out of the country fell 11.1 percent to $13.4 billion in January from $15.08 billion a year ago as both exports and imports contracted — a sign of slow economic recovery at the start of the year.
The Philippine Statistics Authority’s (PSA) latest preliminary report released Friday showed total trade last January shrank at a faster pace than December 2020’s 4.2 percent year-on-year while reversing the 1.5-percent growth posted a year ago.
Merchandise exports declined 5.2 percent year-on-year to $5.49 billion, a reversal of the 1.7-percent and 9.4-percent growth posted a month and a year ago, respectively.
The PSA said the major expor…
Keep on reading: Exports, imports continue slide in January