Hanoi, May 1 -- ​

Hanoi (VNA) - The Philippines recorded a trade deficit of 4.5 billion USD in March, the highest level in six months, amid rising import costs driven by tensions in the Middle East, according to data released on April 29 by the Philippine Statistics Authority.

However, the pace of increase in the deficit remained almost unchanged, edging up just 0.1% year-on-year. The development reflects mixed movements in exports and imports against the backdrop of volatile global energy prices.

Exports surged 20.4% year-on-year to 6.78 billion USD in March, marking the highest level since the Philippine Statistics Authority began compiling trade data in 1991. Meanwhile, imports rose 12.3% to 11.29 billion USD, also reaching a ...