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Trade deficit narrows in September


THE country’s trade deficit went down to $3.12 billion in September this year from $4.02 billion a year ago, the Philippine Statistics Authority (PSA) reported on Wednesday.

PSA data showed however that the trade gap during the month widened from the $2.6 billion recorded in August this year.

After five consecutive months of growth, exports contracted by 2.6 percent to $5.90 billion from $6.05 billion a year ago.

Total value of imported goods also dropped by 10.5 percent to $9.02 billion from $10.08 billion last year.

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