RP trade in 2010

The National Statistics Office (NSO) released last week the full year 2010 imports. Here is the result, including data for 2008 and 2009, units in $ billion.

Imports     Exports        Balance
2008 

2009 r

2010

56.746   49.078  (7.669) 

43.092   38.436  (4.656)

54.702   51.432  (3.270)

source: NSO, http://www.census.gov.ph/data/sectordata/2010/tr101201.htm

Trade deficit (imports are larger than exports) has declined to only $3.27 B last year, more than one-half the trade deficit in 2008. Not only that RP exports grew rather high, imports also declined compared to two years ago. We hope that the country’s exports dynamism will continue in the coming years.

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