Philippine trade deficit

Philippine trade deficit

MANILA (AFP): The Philippines' trade deficit in the first two
months of 1995 shrank to US$1.052 billion, down 6.1 percent from
the same period in 1994, the National Statistics Office (NSO)
said in a statement Saturday.

Exports grew by about 28.7 percent to $2.418 billion while
imports grew by 15.7 percent to $3.47 billion dollars, the NSO
said.

Electronic components were the country's biggest import item
at 419.8 million dollars while industrial equipment and machinery
were second and telecommunications equipment and electrical
machinery third.

The United States remained the country's biggest trading
partner with total trade at $747 million in the first two months
of 1995, with Japan second at $595.7 million, and Singapore third
at $173 million.