RP Jan.-Aug. trade deficit narrows to $2.3B

(Updated 4:53 p.m.) The Philippines recorded a narrower trade deficit of $2.341 billion in the first eight months of the year, from $4.012 billion in the same 2009 period, the National Statistics Office said Tuesday. “Total imports posted a 26.1 percent annual increase to $35.324 billion from $28.023 billion," the agency said in its External Trade Performance report for August. “Similarly, an increase of 37.4 percent for merchandise exports was noted to $32.984 billion in January to August of 2010 from $24.011 billion during the same period in 2009," the statistics office added. The country’s external trade in goods in January-August 2010 reached $68.308 billion, wider by 31.3 percent from $52.034 billion registered during the same 2009 period, NSO data showed. — VS, GMANEws.TV