Philippines November trade deficit at $3.7 billion

MANILA (Reuters) - The Philippines recorded a trade deficit of $3.7 billion for November, despite a decline in the value of imports and a rise in exports, government data showed on Tuesday.

Imports declined 1.9% from a year earlier to $10.8 billion, the first monthly drop since January 2021 and the lowest monthly value recorded since February last year. Exports grew 13.2% to $7.1 billion, the Philippine Statistics Authority said.

The government will release December trade figures on Jan. 26.

(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Ed Davies)