According to Philstar Biz, the Philippines' agricultural trade deficit narrowed to $988 million in May, a 6.4% decline from the same month last year.
The improvement was driven by agricultural exports significantly outweighing imports during the month, although the country remains a net importer of farm goods.
The narrower deficit signals a temporary reprieve for the sector, which has faced persistent trade gaps due to high dependence on imported food and agricultural inputs.