The Philippines’ trade in goods with the rest of the world rose 5 percent year-on-year to $43.1 billion in the first quarter of the year amid an overall recovering global economy from last year’s pandemic-induced recession.
The latest preliminary Philippine Statistics Authority (PSA) data showed that merchandise exports from January to March grew by 7.6 percent year-on-year to $17.6 billion, while imports were up by 3.2 percent to $25.6 billion, reversing the 5.6-percent contraction in external trade a year ago.
In March alone, total foreign trade climbed 22.5 percent year-on-year to $15.8 billion, the highest value of exports and imports combined since the $16.3 billion recorded i…
Keep on reading: PH exports, imports bounced back in Q1