
Philippines posts $4.6 billion trade deficit in December

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Philippines posts $4.6 billion trade deficit in December
by DZRH News26 January 2023
FILE PHOTO: A Philippines Peso note is seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration
MANILA (Reuters) - 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% to $10.3 billion from a year earlier, the deepest decline since January 2021, the Philippine Statistics Authority said.
Exports fell 9.7% to $5.7 billion, the sharpest drop since August 2020.
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(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Kanupriya Kapoor)
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