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Philippine exports post double-digit growth for third month

MANILA: Philippine merchandise exports in May grew 29.8per cent from a year earlier, marking the third straight month of double-digit growth, but imports grew faster at 47.7per cent, government data on Friday showed.

Exports in May were valued at US$5.89 billion, while imports totalled US$8.65 billion, yielding a trade deficit of US$2.76 billion, the Philippine Statistics Authority said.

(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Ed Davies)

Source: Reuters

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