Philippines November trade deficit at $3.7 billion

Philippines November trade deficit at $3.7 billion
FILE PHOTO: Trucks transporting containers with imported items are prepared to leave a port in Manila, Philippines May 25, 2016. REUTERS/Erik De Castro

MANILA : The Philippines recorded a trade deficit of $3.7 billion for November, despite a decline in the value of imports and a rise in exports, government data showed on Tuesday.

Imports declined 1.9 per cent from a year earlier to $10.8 billion, the first monthly drop since January 2021 and the lowest monthly value recorded since February last year. Exports grew 13.2 per cent to $7.1 billion, the Philippine Statistics Authority said.

The government will release December trade figures on Jan. 26.



Source: Reuters