Philippines incurs $3.27-B trade deficit last year

The Philippines incurred $3.270 billion in trade deficit last year, from $4.656 billion in 2009, the National Statistics Office (NSO) said Friday. The country shipped in a total of $54.702 billion worth of goods last year, up 27 percent from 2009's $43.092 billion, the NSO said in its merchandise trade report. Total export bill reached $51.432 billion a year ago, up 34 percent from $38.436 billion in 2009, the report added. The total value of merchandise trade reached $106.134 billion last year, a 30-percent increase from 2009's $81.527, the NSO said. According to the agency, combined import and export merchandise trade in December 2010 alone totaled $9.131 billion, up 26 percent from $7.258 billion in the same period in 2009. Total import bill rose to $4.930 billion in December last year from $3.936 billion in the same period in 2009, the NSO said. The country exported a total of $4.201 billion during the period, up 27 percent from $3.321 billion in December 2009, it added. Trade deficit expanded to $729 million in December last year, from $615 million in the same month in 2009. — JE, GMA News