Philippines: Merchandise trade deficit narrows in October
Latest reading: In October, the trade balance was USD -3.8 billion, following a USD -4.7 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD -50.4 billion.
Exports rose 19.4% in annual terms in October, following 16.2% growth in the previous month. Imports fell 6.5% in annual terms in October, coming on the back of 5.1% growth in the prior month. October’s reading was the weakest since June 2024.