Oct trade deficit widens as imports surge

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THE Philippines’ trade deficit widened in October as imports surged twice as fast as exports, the Philippine Statistics Authority (PSA) reported on Tuesday.

Imports in October rose 13.1 percent year-on-year to $8.21 billion while exports grew at a slower pace of 6.6 percent to $5.36 billion.

The total balance of trade in goods amounted to $2.84 billion in October 2017, higher than the $2.22 billion recorded in October 2016, the PSA said in a statement. MAYVELIN U. CARABALLO

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