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Philippine Trade Deficit Widens In January

The Philippine trade deficit widened in January from the last year, as the increase in imports exceeded the exports growth, the Philippine Statistics Authority showed on Friday.

Exports rose 8.9 percent yearly in January, following a 7.3 percent growth in December. This was the highest since August last year.

Imports advanced 27.5 percent annually in January, after a 39.1 percent gain in the previous month.

The trade deficit increased to $4.695 billion in January from $2.877 billion in the same month last year. In December, the deficit was $5.273 billion.

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