RP trade deficit $3.16b

RP trade deficit $3.16b

MANILA (AFP): The Philippines' trade deficit in the first five months of 1994, rose 29 percent to US$3.16 billion from the $2.45 billion deficit posted the previous corresponding period, the National Statistics Office (NSO) said here yesterday.

Export earnings grew by 16 percent to $4.956 billion but imports grew by 20 percent to $8.116 billion, the NSO added.

The country suffered a $6.223 billion trade deficit for 1993.