The Philippines's export of goods and services in 2013 edged up 7.2 percent from the previous year to 75.8 billion USD, said the Philippine Department of Trade and Industry.

According to the ministry, the country’s export of services alone increased by over 20 percent to 21.6 billion USD last year while the export of goods expanded by 4.1 percent, overshooting 52.1 billion USD recorded in 2012.

The National Statistics Office also revealed that the country’s export-import revenue from January through to November 2013 posted a year-on-year rise of 2.6 percent to 49.37 billion USD.

The Philippine Department of Finance said the country’s bad debts in the first 11 months of last year rose 5.5 percent to 126.2 billion USD due to an increase in local loans. The department estimated the country’s total bad debt last year to be over 133 billion USD.-VNA