Trade Deficit Narrows to $4.8 Billion in November

The country's trade deficit narrowed in November as exports declined faster than imports, according to the Philippine Statistics Authority (PSA).

- By Louella Desiderio

Preliminary data from the PSA yesterday showed that the balance of trade in goods—the difference between the value of exports and imports—amounted to a $4.767 billion deficit in November last year, slightly lower than the $4.769 billion shortfall in the same month in 2023.

The November trade gap is also smaller than the previous month's $5.781 billion deficit.

The latest trade deficit figure brought the total shortfall to $49.963 billion in the January to November period, wider than the $48.414 billion in the same period in 2023.