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From bad to worse? Exports contracts 6.1 pct in August, imports collapse


Trade deficit remained as high as $13.45 billion, slightly higher than in July.

Imports contracted at a sharper pace of 13.5% to .6 billion in July.

Merchandise exports shrank 6.1% y-o-y in August to $26.1 billion, the second contraction this fiscal, indicating not just external headwinds but also sluggishness in domestic manufacturing. Imports contracted at a sharper pace of 13.5% to $39.6 billion in July. Trade deficit remained as high as $13.45 billion, slightly higher than in July.


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