RTTNews - Philippines imports dropped 37.4% year-on-year in April, faster than a 36.2% fall in the previous month, the National Statistics Office said Thursday. Imports declined to US$3.04 billion from US$3.26 billion in March. On a monthly basis, imports were down 7% in April, reversing a 6.9% rise in the preceding month.

Imports of electronic products dipped 42% annually in April to US$924 million, after declining 40.7% in the previous month. Compared to the previous month, import of electronic goods fell 17.3%, following a 4% rise in March.

Meanwhile, total exports slipped 35.2% from a year earlier to US$2.8 billion. The country recorded a trade deficit of US$238 million, lower than a deficit of US$529 million in the same period the previous year.

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