The country’s trade deficit widened in May after a measly decline in imports and exports, data from the Philippine Statistics Authority (PSA) showed Wednesday, July 10. The trade deficit, or the difference between the value of exports and imports, reached $4.60 billion in the fifth month of 2024,...
The surprise robust growth in merchandise exports and imports at the start of the second quarter augured well for rosier Philippine economic prospects, according to Deutsche Bank Research. In a recent report, the German bank's research arm noted that the 26.4 percent year-on-year climb in April...
The United States Department of Agriculture (USDA) said that El Niño did not have a significant impact on the sugarcane harvest in the country. In a recent report, the USDA-Foreign Agricultural Service (FAS) revised its forecast for raw sugar production, increasing it by 50,000 metric tons...
The Philippine Statistics Authority (PSA) reported that agricultural trade in the country decreased last year due to a drop in both imports and exports. Data from the PSA showed that the total agricultural trade amounted to $24.35 billion from January to December 2023, a nine percent decline...
The country’s trade deficit improved in February this year, driven by a strong increase in exports outpacing the growth in imports, data from the Philippine Statistics Authority (PSA) showed. The balance of trade in goods, representing the difference between export and import values, recorded a...
The Department of Trade and Industry (DTI) has urged exporters to prepare for the enforcement of the European Union Deforestation Regulation (EUDR) at the end of this year to ensure continued access of their products to the EU market. Bianca Pearl Sykimte, director of the DTI -Export Management...
The Philippine Exporters Confederation Inc. (PHILEXPORT) cited the newly signed Tatak Pinoy Act as a new platform wherein the government and the private sector can work together to raise the quality of Filipino products and to sustain it for the long term. Sergio R. Ortiz-Luis Jr., PHILEXPORT...
The collapse of a major bridge in Baltimore, United States may lead to an increase in import prices for the Philippines, an economist warned. Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said that the port congestion triggered by the bridge collapse in the US could...
Washington has granted Manila an additional raw sugar allocation that may enter the United States, the Office of the US Trade Representative (USTR) announced. In a statement, the USTR said it granted the Philippines 25,300 metric tons of additional sugar exports under the World Trade...
The country’s trade deficit plunged to $4.22 billion in the first month of 2024 after having a contraction in the value of imports, the Philippine Statistics Authority said on Tuesday, March 12. The trade deficit narrowed by 24 percent from the $5.55 billion booked in the same month last year....
The country’s value of agricultural exports and imports declined by 0.9 percent to $6.27 billion as it saw a lower trade deficit during the fourth quarter of 2023, data from the Philippine Statistics Authority (PSA) showed. This was lower than the $6.327 billion or 5.1 percent annual increase in...
The country posted a lower trade deficit in December after mild contractions in exports and imports, data from the Philippine Statistics Authority (PSA) showed Friday, Jan. 26. The trade gap, or the difference between the value of exports and imports, declined by 11 percent to $4.01 billion in...
