Oct trade deficit widens as imports surge


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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