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Financial News: Philippine Trade Deficit Narrows In November

Philippine Trade Deficit Narrows In November

01/10/2020 - 01:30:00 (RTTNews)

(RTTNews) - The Philippine trade deficit declined in November from last year amid a fall in exports and imports, data from the Philippine Statistics Authority showed on Friday.

The trade deficit declined to $3.342 billion in November from $4.074 billion in the same period last year. In October, the trade deficit was $3.240 billion.

Data showed that exports fell 0.7 percent year-on-year after rising 0.3 percent in October. The shipment of electronic goods that account for over 58 percent of total exports gained 1.4 percent in November.

Imports decreased 8.0 percent year-on-year in November, following a 10.8 percent drop in October. This was the eighth consecutive decline in imports.

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