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Philippines' June trade gap narrows to smallest in three months

Philippines' June trade gap narrows to smallest in three months

Trucks transporting containers with imported items are prepared to leave a port in Manila, Philippines May 25, 2016. REUTERS/Erik De Castro/File Photo

MANILA : The Philippines posted its smallest trade deficit in three months in June at US$2.83 billion, as exports grew faster than imports on a monthly basis, government data on Friday showed.

Exports totaled US$6.51 billion, up 17.6per cent from a year earlier and 10per cent from the previous month, while imports of US$9.33 billion grew 34.2per cent year-on-year but were up only 2.4per cent month-on-month.

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

Source: Reuters

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