2019.12.1004:15:00UTC+00Philippine Trade Deficit Narrows In October

The Philippine trade deficit narrowed in October as exports rise amid a decline in imports, data from the Philippine Statistics Authority showed on Tuesday.

The visible trade deficit narrowed to $3.25 billion in October from $4.42 billion last year. Economists had forecast a deficit of $3.60 billion.

Exports edged up 0.1 percent annually in October, after a 1.2 percent decrease in September. Economists had forecast a fall of 3.3 percent. Shipments of electronic products advanced 7 percent.

Imports declined 10.8 percent in October, following a 10.5 percent decrease in the previous month. Economists had expected an 8.5 percent fall.