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...
President Marcos has ordered the implementation of a single electronic invoicing system for all imported commodities to improve the inspection of all goods coming into the country. Marcos made the directive through Administrative Order No. 23, which also creates the Committee for Pre-border...
The amount of rice brought into the country reached 322,770 metric tons in February this year, higher by 109 percent compared to last year, the Philippine Statistics Authority (PSA) said. Based on the PSA report, the value of rice brought into the country reached $160.09 million during the month....
Senators on Monday, April 22 urged President Ferdinand “Bongbong” Marcos Jr. to ramp up local production even after releasing Administrative Order No. 20 easing the rules on the importation of agricultural products. Sen. Francis “Chiz” Escudero said that while he supports the latest...
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 Bureau of Customs collected over P75.4 billion in March, surpassing its target anew on the back improvements in import valuations. In a statement, Customs Commissioner Bienvenido Y. Rubio said that last month’s collection exceeded the P72 billion target by 3.45 percent. The robust performance...
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...
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...
The country’s rice inventory significantly declined a quarter in December, but the government assured sufficient supply that will last until the next harvest season. A report from the Philippine Statistics Authority showed that the rice stock dropped 25 percent to 1.90 million metric tons (MT)...
The Philippine Statistics Authority (PSA) reported that country's trade deficit widened in November last year due to the significant decline in exports and a rise in imports. Preliminary data from the PSA showed that the trade in goods resulted in a deficit of $4.7 billion in November, an increase...
