Trade gap widens to $4.94 billion in June

The country's trade deficit widened to $4.94 billion in June from a year earlier, driven by a surge in imports that outpaced record-high exports, according to Philstar Biz.

Data from the Philippine Statistics Authority showed exports reached an all-time high in June, but imports grew at an even faster pace, widening the trade gap. The deficit compared with $4.2 billion in the same month last year, reflecting the country's growing import dependence for raw materials and capital goods.

The persistent trade deficit could put pressure on the peso and foreign exchange reserves, though strong export performance and remittances may offset some impact. Economists expect the deficit to remain elevated as the economy continues to recover and demand for imports rises.