December 2024 Trade Deficit at USD 4.14 Billion

 The Philippines year-on-year balance of trade in goods decreased by 1 percent in December 2024, recording a USD 4.14 billion (PHP 241.32 billion) trade deficit compared to the USD 4.18 billion (PHP 243.65 billion) recorded in December 2023. Balance of trade in goods refers to the difference between a country’s imports and exports; a trade deficit means that a country imports more goods than it exports, while a trade surplus denotes the opposite.    

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