THE country’s trade deficit widened by 8.6 percent in December 2017 as imports continued to grow at a double-digit rate while exports declined, the Philippine Statistics Authority (PSA) said Friday.

In a report, the PSA said imports in December increased by 17.6 percent, rising to $8.74 billion from the $7.43 billion registered in 2016.

On the other hand, exports dropped 4.9 percent to $4.72 billion from the previous year’s $4.97 billion.

The total external trade in goods in December reached $13.46 billion, which was 8.6 percent higher than the $12.40 billion recorded a year earlier. ANGELICA BALLESTEROS