Philippines: Merchandise trade balance is unchanged in December
Latest reading: In December, the trade balance was USD -3.5 billion, following a USD -3.5 billion figure in the previous month. Over the last 12 months, the trade balance summed to USD -48.7 billion.
Exports were up 23.3% in annual terms in December, following 21.3% growth in the prior month and marking the sharpest increase in nearly two years thanks to sharper growth in shipments of electronic, bananas and gold. Meanwhile, imports rose 7.1% in year-on-year terms in December, coming on the back of a 2.0% fall in the previous month.