The Philippines\’ total external trade in goods grew by 12.9 percent in 2022 to 216.20 billion U.S. dollars, with China remaining the largest supplier of imported goods, the Philippine Statistics Authority (PSA) said over the weekend.
Of the total external trade in 2022, the PSA said 63.5 percent were imported goods, and the trade deficit was 58.24 billion dollars, up 38 percent from last year\’s figure.
The value of goods imported from China reached 20.6 percent of the total imports, while the export value to China stood at 13.9 percent of the total exports.