In March, merchandise exports expanded 4.0% over the same month last year to reach USD 4.4 billion, which was below the 8.3% expansion observed in February. In fact, the figure represented the slowest growth in exports since October 2009. Shipments of manufactured goods, which account for the majority of Philippine exports, contracted 1.9% in March, which contrasted the 5.7% expansion observed in February. However, exports of agro-based products expanded a buoyant 49.7% in March (February: +47.8% year-on-year). Although exports slowed in March, the moving three-month sum of exports reached USD 12.2 billion, which was above the USD 12.1 billion registered in the three months to February. At the current level, exports remain below the pre-crisis peak of USD 13.3 billion registered in August 2008 but have recovered substantially from the USD 7.7 billion trough recorded in the three months to February 2009.
Philippines Trade Balance
Exports continue to decelerate in March
May 10, 2011
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Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.