Philippines' total external trade up by 12.3 pct in October

The Philippines' total external trade in goods rose by 12.3 percent in October to 18.70 billion U.S. dollars, the Philippine Statistics Authority (PSA) said on Tuesday.

Of the total external trade in October this year, the agency said 58.8 percent were imported goods, while the rest were exported goods. The balance of trade in goods amounted to minus 3.31 billion dollars, indicating a trade deficit with an annual increase of 13.5 percent.

According to the agency, China was the Philippines' biggest supplier of imported goods and also contributed the fourth-highest export value to the Philippines in October.

In September, the annual increase was slower at 11.5 percent and the trade deficit recorded an annual increase of 27.1 percent.