00:00The Philippines' trade deficit narrowed in January, falling by 17.8% to $4.04 billion,
00:07from $4.92 billion in the same month last year.
00:11This driven by growth in exports and a decline in imports,
00:15according to data from the Philippine Statistics Authority, or PSA.
00:18Total export sales saw a 7.9% increase.
00:22This was primarily fueled by higher exports of electronic products,
00:26which remain the country's top export commodity,
00:29including gold, machinery, and transport equipment.
00:32The United States was the Philippines' largest export partner, accounting for $1.16 billion.
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