In June, merchandise exports fell 10.2% over the same month last year to reach USD 4.1 billion, exceeding the 3.1% decrease observed in May. The result mainly reflected a decline in shipments of manufacturing products. In particular, electronic goods, the country's main export, dropped 23.9%. The decline reflects post-earthquake supply disruptions originating in Japan and the slowing global economy. Meanwhile, in May, the latest month for which data are available, imports expanded a meagre 1.6% year-on-year (April: +20.3% yoy). The trade balance remained in the red and recorded a shortfall of USD 780 million in May.
Philippines Trade Balance
Exports continue to decline
August 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.