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Philippines posts $4.6 billion trade deficit in December

Philippines posts $4.6 billion trade deficit in December

FILE PHOTO: A Philippines Peso note is seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

MANILA : The Philippines posted a trade deficit of $4.6 billion for December, the biggest trade gap in three months, government data showed on Thursday.

That brought the full-year trade deficit to $58.3 billion compared with the 2021 gap of $42.2 billion.

Imports in December declined 9.9 per cent to $10.3 billion from a year earlier, the deepest decline since January 2021, the Philippine Statistics Authority said.

Exports fell 9.7 per cent to $5.7 billion, the sharpest drop since August 2020.

Source: Reuters

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