PSA data: PHL badly missed 2023 merchandise trade goals
THE country missed its merchandise trade goals last year as data from the Philippine Statistics Authority (PSA) showed both exports and imports contracted between January and December 2023.
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THE country missed its merchandise trade goals last year as data from the Philippine Statistics Authority (PSA) showed both exports and imports contracted between January and December 2023.
ASIAN countries including the Philippines will likely pose slower economic growth in the fourth quarter of 2023, according to a UK-based think tank.
SLOWING inflation and increased government spending in the second semester could boost the economy’s chances of posting a full-year growth of above 6 percent this year, according to a local think tank.
JAPAN-BASED Rating and Investment Information Inc. (R&I) on Monday upgraded its outlook on the Philippines from stable to positive while affirming the country’s BBB+ credit rating due to its improving economic performance despite global “uncertainty.”
PURSUING a free-trade agreement (FTA) with the European Union and renewal of the General System of Preferences (GSP) Plus could greatly benefit locators at the Philippine Economic Zone Authority (Peza).
The Malaysian government is hoping that President Ferdinand R. Marcos Jr. will sign a memorandum of understanding (MOU) to enhance partnership of Manila and Kuala Lumpur on agricultural trade and cooperation.
ATTAINING the $53.7-billion target for the local electronics industry may be tough given the global situation, according to the Semiconductor Electronics Industries in the Philippines Foundation Inc. (SEIPI).
TRADE Secretary Alfredo E. Pascual urged top Japanese trading houses to participate in efforts to enhance bilateral economic and trade relations between the Philippines and Japan, particularly in the areas of technology and employment.
UNITED NATIONS—Warning of a new threat to global food security, the United Nations said Thursday that Russia is limiting the number of ships allowed to pick up Ukrainian grain at Black Sea ports in its campaign to get Kyiv to open a pipeline for a key ingredient of fertilizer to get to world markets.
JAPAN’S industrial production fell for the first time in six months in January, raising questions about the sustainability of Japan’s export-driven growth in the second half of 2016. Retail sales rose.
MITSUBISHI Motors Corp. is setting a long-term vision of making the Philippines its third pillar of exports in Asia, starting with its participation in the government’s manufacturing stimulus program, the Comprehensive Automotive Resurgence Strategy (CARS).
The Department of Trade and Industry is confident of exports recovering in 2017 with the gradual weakening of peso shoring up overseas remittances and export receipts.
Many developing countries, including the Philippines, believe that export-led growth is an essential pillar of economic development; however, it is becoming obvious that the sort of export matter, based on industrialization and diversification. Accordingly, these economies need prudent policies, as well as access to foreign markets.
There has been a mix of good and not-so-good developments lately in the economic front. Let us begin with the good news. According to the Bangko Sentral ng Pilipinas (BSP), foreign direct investment (FDI) rose to $711 million in August, higher by 32 percent compared to August 2015. This was around the second month of the Duterte administration and investor confidence was high at this time. Of course, increased foreign investments also mean more jobs for our people.
By Georgina A. Verdeflor
Logistical problems and stringent importation measures hinder mango growers from fully capitalizing on Canberra’s recent recognition of the Philippines as pest-free, according to a group of fruit exporters.
By Raymond Batac / Foreign Trade Service Corps Department of Trade and Industry
THE country’s coconut-oil (CNO) exports in the first three quarters plunged by more than a quarter due to the lingering effects of the prolonged dry spell in the country, according to United Coconut Associations of the Philippines Inc. (Ucap).
The Philippines can start exporting next year halal-accredited meat to selected markets abroad, including the Middle East (ME) and Brunei Darussalam.
By Magnolia Uy / Trade Service Officer / Foreign Trade Service Corps, DTI
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