In February, merchandise exports grew 14.6% over the same month last year, which was well above the 3.1% increase observed in January (previously reported: +3.0% year-on-year) and represented the fastest pace of expansion since April 2011. February's increase mainly reflected a rise in shipments of manufactured products. In particular, electronic goods, the country's main export, rose 15.8% over the same month last year, faster than the 0.5% growth recorded in January. Meanwhile, in January, the latest month for which data are available, imports fell 3.2% year-on-year (December: -6.4% yoy). The trade balance recorded a shortfall of USD 1.0 billion in January, narrowing from a deficit of USD 1.2 billion observed in December.
Philippines Trade Balance
Exports expand at fastest pace in 10 months
April 12, 2012
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Philippines Trade Balance Chart
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.