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Philippine foreign trade deficit widened notably in December from a year ago, as exports fell and imports surged, preliminary figures from the Philippine Statistical Authority showed Friday.
The trade deficit rose to $4.02 billion in December from $2.5 billion in the corresponding month last year.
Exports declined 4.9 percent year-over-year in December, while imports jumped by 17.6 percent.
Shipments of electronic products, accounting for 60.6 percent of total exports, expanded by 15.0 percent.
