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Philippine Trade Deficit Widens In December

Philippine foreign trade deficit widened notably in December from a year ago, as exports fell and imports surged, preliminary figures from the Philippine Statistical Authority showed Friday.

The trade deficit rose to $4.02 billion in December from $2.5 billion in the corresponding month last year.

Exports declined 4.9 percent year-over-year in December, while imports jumped by 17.6 percent.

Shipments of electronic products, accounting for 60.6 percent of total exports, expanded by 15.0 percent.

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