PH trade deficit widens

The trade deficit more than doubled in 2016 as exports contracted while imports grew in double-digit terms, official data showed on Friday.

Merchandise exports in January to December dropped 4 percent to $56.23 billion from $58.82 billion a year earlier, according to the Philippine Statistics Authority. Imports climbed 14 percent to $81.16 billion from $71.06 billion in the same comparable period.