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Philippines Trade Deficit Rises In February

The Philippine trade deficit increased in February from the last year, the Philippine Statistics Authority showed on Thursday.

Exports declined 2.3 percent yearly in February, after a 4.8 percent fall in January.

Imports grew 2.7 percent annually in February, after a 12.1 percent decline in the previous month.

The trade deficit decreased to $2.293 billion in February from $1.968 billion in the same month last year. In January, the deficit was $2.876 billion.

Separate data from the statistical office showed that the production index value declined 46.5 percent yearly in February, following a 16.7 percent fall in January.

The production index volume decreased 43.6 percent in February, following a 12.0 percent decline in the previous month.

Data also showed that producer prices fell 5.3 percent annually in February, same as seen in January.

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