In May, exports rose 19.7% over the same month last year. The reading was well above both the 7.6% increase observed in April and market expectations that had exports rising 6.8%. May's increase mainly reflected stronger export growth of manufactured products. Meanwhile, in April, the latest month for which data are available, imports fell 13.7% year-on-year, which followed on a 3.3% decrease tallied in March. As a result, the trade deficit shrank to a USD 135 million shortfall in April, which was up from the USD 1.2 billion deficit observed in the same month last year.
Philippines Trade Balance
Exports skyrocket in May
July 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.