Philippines Oct trade deficit at USD 3.3 billion, 17-month low

MANILA, Dec 13 (Reuters) – The Philippines posted a trade deficit of USD 3.3 billion for October, its narrowest gap in 17 months, as exports rose 20% from a year earlier, outpacing the 7.5% increase in imports, government data showed on Tuesday.

The value of imports reached USD 11 billion while exports totalled USD 7.7 billion, the Philippine Statistics Authority said.

(Reporting by Neil Jerome Morales and Enrico dela Cruz; Editing by Ed Davies)