In December, merchandise exports contracted 20.7% over the same month the year before, down from the 19.4% decrease observed in November. As in previous months, the decline mainly reflected a fall in shipments of manufactured products, which contracted for the eighth consecutive month. In particular, electronic goods, the country's main export, fell 32.7% year-on-year in December. Meanwhile, in November, the latest month for which data are available, imports rose 0.6% year-on-year. As exports continue to decline, the trade balance recorded a shortfall of USD 1.6 billion in November, greater than the deficit of USD 932 million in October.
Philippines Trade Balance
Exports fall for eighth straight month in December
February 10, 2012
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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.