In July, exports rose 7.8% over the same month last year. The reading was well above the 4.3% increase observed in June (previously reported: +4.2% year-on-year) and contrasted market expectations that had exports contracting 2.0%. The result mainly reflected higher exports of manufactured products, which account for the vast majority of the Philippines' exports. Meanwhile, in June, the latest month for which data are available, imports rose 13.3% year-on-year, which followed the 10.1% increase tallied in May. As a result, the trade deficit widened to a USD 787 million shortfall in June, compared to the USD 369 million deficit observed in the same month last year.
Philippines Trade Balance
Exports accelerate in July
September 11, 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.