Philippine c.bank sees deeper slump in 2009 exports

Published: 13 Oct 2009 17:23:02 PST

MANILA, Oct 14 - Philippine exports and imports will slip more than previously forecast in 2009, but should recover in 2010, Philippine central bank governor Amando Tetangco said on Wednesday.

He told reporters exports should fall 20 percent this year but grow 7 percent in 2010. Imports would fall 17 percent this year and grow 13 percent next year, he said.

Previous forecasts have been for exports to fall 13-15 percent in 2009 and for imports to fall 8-12 percent.