The trade deficit in the Philippines narrowed unexpectedly in December, preliminary data from the National Statistics Office showed Tuesday.
The trade deficit came in as $68 million in December following the revised $233 million in November. Economists had expected a shortfall of $381 million.
A year earlier, the trade deficit was $485 million.
Imports fell 10.6 percent year-over-year in December following the 1.7 percent drop in November. Economists had expected imports to decrease 11.1 percent.
Imports of transport equipment decreased the most, by 51.2 percent. This was followed by declines in imports of mineral fuels, lubricants and related materials and cereals and cereal preparations.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.