Philippines March exports grew at fastest pace in more than 10 years

MANILA: Philippine exports expanded at the fastest pace in more than 10 years in March, the statistics agency said on Friday, driven by strong demand from major trading partners, while imports rose at the highest rate in more than two years.

Outbound shipments increased 31.6per cent from a year earlier in March, the highest since September 2010, while imports rose 16.6per cent from last year, resulting in a wider trade deficit of US$2.4 billion compared with the previous month.

(Reporting by Karen Lema; Editing by Ed Davies)