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Philippines July exports post smallest drop in 5 months

MANILA, Sept 10 (Reuters) - Philippine exports contracted for the fifth straight month in July but at the slowest pace during the five-month period, while imports also fell, yielding a trade deficit of $1.83 billion, the country’s statistics agency said on Thursday.

The July trade gap was the biggest in four months, or since March, data from the Philippine Statistics Authority showed.

Exports in July shrank 9.6% from a year earlier to $5.65 billion. Imports fell 24.4% to $7.5 billion, marking the 15th month of negative growth for inbound shipments. (Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Jacqueline Wong)

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