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Financial News: Philippines Exports Rise 13.2%, Trade Deficit Narrows

Philippines Exports Rise 13.2%, Trade Deficit Narrows

01/10/2023 - 03:51:00 (RTTNews)

(RTTNews) - The Philippine trade deficit narrows in November from the last year, as exports increased and imports declined, data from the Philippine Statistics Authority showed on Tuesday.

The trade deficit declined to $3.677 billion in November from $4.710 billion in the same month last year. In October, the deficit was $3.312 billion.

Exports rose 13.2 percent yearly in November, after a 20.3 percent growth in October.

Imports dropped 1.9 percent annually in November, after a 7.7 percent growth in the previous month. Imports declined for the first time in twenty-two months.

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