The Philippines’ trade deficit widened in November from a year earlier as exports contracted mainly on the drop in outbound shipment of manufactured goods, official data showed on Tuesday.
“The balance of trade in goods (BOT-G) for the Philippines in November 2016 registered a deficit of $2.566 billion, higher than the $976.87 million trade deficit in the same month last year,” the Philippine Statistics Authority (PSA) said in a statement released with the trade data.
Exports fell 7.5 percent to $4.73 billion in November, while imports accelerated 19.7 percent to $7.29 billion, the PSA said.
The trade gap in November was also wider than the $1.98 billion deficit recorded in October.
MAYVELIN U. CARABALLO