November 7, 2018 / 1:24 AM / 13 days ago

Philippines says Sept trade deficit hits nearly $4 bln

MANILA, Nov 7 (Reuters) - The Philippines’ trade deficit widened to almost $4 billion in September as imports grew at a double-digit pace, while exports contracted, government data showed on Wednesday.

Imports surged 26.1 percent from a year earlier and exports dropped 2.6 percent, the Philippine Statistics Authority said. The trade deficit reached $3.927 billion, more than double the $1.752 billion deficit in the same month last year.

The Southeast Asian country’s trade deficit in January-September ballooned to $29.9 billion, compared with the $17.5 billion deficit in the same period last year, the data showed.

Reporting by Karen Lema and Enrico dela Cruz, Editing by Sherry Jacob-Phillips

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