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