Philippine foreign trade deficit increased in October from a year ago, as imports grew faster than exports, preliminary figures from the Philippine Statistical Authority showed Tuesday.
The trade deficit rose to $2.84 billion in October from $2.22 billion in the corresponding month last year.
Exports climbed 6.6 percent year-over-year in October and imports surged by 13.1 percent.
Shipments of electronic products, accounting for 53.2 percent of total exports, expanded by 13.8 percent.
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