The Philippine trade deficit narrowed in September as the pace of decline in imports exceeded the fall in exports, data from the Philippine Statistics Authority showed on Wednesday.
The visible trade deficit narrowed to $3.12 billion in September from $4.02 billion last year. Economists had forecast a deficit of $3.05 billion.
Exports dropped to 2.6 percent annually in September following by a 0.8 percent rise in August. Economists had forecast a rise of 1.3 percent.
Imports declined 10.5 percent versus an 8.8 percent decrease in the previous month. Economists had expected a 6.4 percent fall.