The Philippine trade deficit widened in May from the last year, as imports rose much faster than exports, the Philippine Statistics Authority showed on Tuesday.
The trade deficit increased to $5.678 billion in May from $3.180 billion in the same month last year. In April, the deficit was $5.348 billion.
Exports rose 6.2 percent yearly in May, same as seen in April.
Imports climbed 31.4 percent annually in May, following a 29.4 percent growth in the previous month. This was the biggest increase since December last year.
