Philippine exports and imports rebounded in July 2024, following a sharp decline in June. Data from the Philippine Statistics Authority (PSA) showed merchandise export sales reached $6.25 billion in July, slightly up from $6.25 billion a year earlier.
Electronic products remained the country’s top exports, accounting for $3.25 billion or 52.1% of the total. Other manufactured goods and mineral products followed.
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Merchandise imports rose 7.2% to $11.12 billion in July, the highest level in 16 months. For the first seven months, imports declined 1% to $72.57 billion.
The trade deficit reached $4.87 billion in July and $29.9 billion for the year.
