Trade deficit widens on lower diamond exports

An analysis of the data shows that the decline in exports was mainly due to a drop of 7.4% in diamond exports, from P3.81 billion in March 2017 to P3.53 billion in the month under review. The total exports value for April 2017, compared to that of the same month in 2016 shows a decrease of 52.9% from P8.06 billion to P3.8 billion.

Similarly, the decrease was mainly attributed to the drop in exports of diamonds, which fell by 51.3% from P7.25 billion in April 2016 to P3.53 billion during the period under review. During that month, exports destined to Asia were valued at P2.2 billion, representing 58.1% of total exports. India received exports amounting to P1.3 billion, accounting for 35.4% of total exports during the month. T