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Financial News: Philippine Trade Deficit Narrows In December

Philippine Trade Deficit Narrows In December

01/27/2021 - 04:41:00 (RTTNews)

(RTTNews) - The Philippine trade deficit decreased in December from the last year amid declines in both exports and imports, the Philippine Statistics Authority showed on Friday.

Exports declined 0.2 percent yearly in December, after a 4.0 percent increase in November.

Imports fell 9.1 percent annually in December, following an 18.3 percent decline in the previous month.

The trade deficit decreased to $2.180 billion in December from $2.961 billion in the same month last year. In November, the deficit was $1.725 billion.

Among major commodity groups, cathodes and sections of cathodes of refined copper showed the biggest fall in exports value, down by 21.0 percent. Exports of machinery and transport equipment and gold fell by 11.1 percent and 0.5 percent, respectively.

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