• The Philippines’ exports rose more than economists expected in February.
• Exports rose 15.7% y/y (estimate +9.8%) in February versus +9.1% in January, according to the Philippine Statistics Authority
  ** Estimates range -3.5% to +18.8%, 13 economists
• Exports fell to $5.906b from revised $5.938b in January
• Imports rose 6.3% y/y (estimate +3.5%) versus revised -6.1% in January
  ** Estimates range -5.2% to +15.3%, 12 economists
• Imports fell to $9.553b from revised $10.326b in January
• Trade deficit narrowed to $3.648b (estimate -$3.993b) from revised -$4.388b in January
  ** Estimates range -$4.300b to -$3.400b, 11 economists