Trade deficit narrows to $4 billion in December
The country’s trade deficit narrowed in December as both exports and imports declined, bringing the full-year 2023 trade gap to $52.42 billion, down from the previous year’s shortfall of $57.65 billion, the Philippine Statistics Authority said......»»
NZ welcomes Australia and Brazil to agreements
New Zealand has welcomed Australia to the Inclusive Trade Action Group (ITAG) and Australia and Brazil to the Global Trade and Gender Arrangement (GTAGA) Minister for Trade Todd McClay says. As the current chair of ITAG and GTAGA, Minister McClay hosted the signing ceremony and issued the Abu Dhabi Joint Statement on Sustainable and Inclusive Trade with fellow ITAG Ministers from Australi.....»»
Philippine calls for stronger action on climate change
Trade Secretary Alfredo Pascual has called for stronger sustainable trade and development initiatives to address climate change during the second ministerial meeting of the Coalition of Trade Ministers on Climate on the sidelines of the 13th World Trade Organization ministerial conference in Abu Dhabi, United Arab Emirates......»»
PH OKs revised Asean free trade pacts with ANZ, Hong Kong
MANILA — The Philippines, a founding member of Association of Southeast Asian Nations (Asean), has agreed to amend two important free trade agreements to benefit investors, traders, and exporters. The Department of Trade and Industry (DTI) announced on Thursday that it signed the Second Protocol to Amend the Agreement Establishing the Asean-Australia-New Zealand Free Trade.....»»
UNCTAD raises alarm over global trade disruptions
The United Nations Conference on Trade and Development is sounding the alarm about the increasing disruptions in global trade, attributed to escalating geopolitical tensions and the impact of climate change on vital trade routes around the world......»»
Philippines jobless rate drops to decades-low in December 2023
MANILA, Feb. 7 (Xinhua) -- The unemployment rate in the Philippines decreased to 3.1 percent in December 2023, the lowest since 2005, the Philippine Statistics Authority (PSA) said on Wednesday. "The full-year unemployment rate for 2023 was 4.3 percent compared to 5.4 percent in 2022," PSA head Dennis Mapa said at a press conference. Mapa said about 1.60 million were jobless in December last year. "This w.....»»
Philippines manufacturing output sustains growth in December 2023
MANILA, Feb. 7 (Xinhua) -- The performance of manufacturing production in the Philippines sustained its growth in December 2023, the Philippine Statistics Authority (PSA) said Wednesday. Based on the preliminary results of a monthly survey, the PSA said the year-on-year value of production index (VaPI) and the volume of production index (VoPI) increased by 2.6 percent and 2 percent in December, respectively......»»
Philippines Job Market Records a 10% Surge in Annual Hiring: foundit Insights Tracker
foundit (formerly Monster APAC & ME), one of the leading talent platforms, today published the foundit Insights Tracker (fit) for December 2023, formerly published as Monster Employment Index (MEI). According to the Philippines Fit report, there was a (10%) increase in the annual hiring activity from December 2022 to December 2023. The index reached 128 […].....»»
Philippines posts 642 mln USD surplus in December
MANILA, Jan. 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency dep.....»»
Philippines posts 642 mln USD surplus in December
MANILA, Jan. 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency dep.....»»
Trade gap expected to widen further
The Philippines’ trade deficit is expected to widen further this year amid weaker exports and stronger imports, according to Dutch financial giant ING......»»
Philippines, Vietnam to expand trade ties to $10 billion
The Philippines and Vietnam will explore untapped areas for cooperation to expand their bilateral trade from $7 billion to $10 billion in the coming years, according to President Marcos......»»
British chamber remains optimistic on UK-Philippines trade growth
With the total trade in goods and services reaching an all-time high of £3.0 billion, BCCP Executive Director/Trustee Chris Nelson expressed optimism on the positive growth trajectory of the UK and the Philippines’ bilateral trade......»»
Magic beat Cavaliers 121-83 to cut their deficit to 2-1
Magic beat Cavaliers 121-83 to cut their deficit to 2-1.....»»
MCWD water deficit now affects 50,000 households in Metro Cebu
CEBU CITY, Philippines – As the internal political strife surrounding the Metropolitan Cebu Water District or MCWD continues, the shortage of water faced by residents has also persisted. Currently, the water deficit in the MCWD has now reached 50,000 cubic meters per day. This equates to 50,000 households experiencing water supply issues, with each household.....»»
Government budget back to deficit in February
The government reverted back to a budget deficit in February after a quick surplus at the start of the year, but a narrower gap can still be expected as the tax season draws near......»»
Bacolod Yuhum Foundation records another deficit in MassKara collection
Bacolod Yuhum Foundation records another deficit in MassKara collection.....»»
BOP swings to deficit in January
The country’s balance of payments swung to a deficit of $740 million in January, the highest in almost a year, as the government paid its foreign currency debt obligations......»»
BoP reverts to surplus, reaches $3.7 billion last year
The country’s balance of payments position reverted to a surplus, hitting $3.67 billion last year and reversing the $7.26 billion deficit recorded in 2022, according to the Bangko Sentral ng Pilipinas......»»
USD3.32-B Loan Approved by BSP
On Monday, the Bangko Sentral ng Pilipinas (BSP) announced that the Monetary Board approved USD 3.32 billion in medium-to-long-term (MLT) foreign borrowings for Q4 2023. From October to December 2023, the public sector’s foreign borrowings rose by 65.8%, reaching USD3.32 billion, up from USD2 billion in the same period in 2022. This brought the total […].....»»
EDITORIAL - Foreign trade barriers
Instead of declaring war on pollster Pulse Asia over its latest survey showing 88 percent of Filipinos opposing Charter change, congressmen can read the report of the office of the US Trade Representative, which details foreign trade barriers in 59 markets including the Philippines......»»