Philippine trade gap widens in August as imports rebound

Reuters

Posted at Oct 10 2017 03:41 PM | Updated as of Oct 10 2017 04:51 PM

MANILA - The Philippine Statistics Authority on Tuesday released data on August exports and imports. Exports in the eight months to August rose 13.3 percent to $42.11 billion from a year ago, while imports were up 8.2 percent at $59.15 billion from a year ago.

The rise in imports was due to a hefty increase in the purchases of metal scrap, mineral fuel, telecommunication equipment and iron and steel.

The trade deficit of $2.41 billion in August was wider than the previous month's $1.65 billion gap.