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Philippines April exports, imports rise at fastest pace in over a decade

FILE PHOTO: A man counts a wad of Philippine Peso bills he received from a relative working abroad at a money remittance center in Makati City, Metro Manila, Philippines September 19, 2018. REUTERS/Eloisa Lopez

MANILA (Reuters) – Philippine merchandise imports grew a hefty 140.9% in April from a year earlier, while exports jumped 72.1%, both rising at their fastest pace in more than a decade, government data showed on Wednesday.

Imports totalled $8.45 billion, while exports reached $5.72 billion, yielding a trade deficit of $2.73 billion. This marked the tenth straight month that the gap has exceeded $2 billion, Philippine Statistics Authority data showed.

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

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