Philippines Trade Deficit; Industrial Production Rises

(RTTNews) - The Philippine trade deficit increased in July from the last year, the Philippine Statistics Authority showed on Thursday.

Exports grew 12,7 percent yearly in July, after a 18.8 percent rise in June.

Imports gained 24.0 percent annually in July, after a 43.4 percent increase in the previous month.

The trade deficit increased to $3.290 billion in July from $2.134 billion in the same month last year. In June, the deficit was $3.397 billion.

Separate data from the statistical office showed that the production index value accelerated 528.1 percent yearly in July, following a 444.6 percent rise in June.

The production index volume increased 537.9 percent in July, following a 459.0 percent rise in the previous month.

Data also showed that producer prices fell 1.5 percent annually in July, following a 2.6 percent decline in June.