MANILA — Merchandise trade grew 22.7 percent in March backed by double-digit growth of imports and exports, bolstering hope the Philippines will be the fastest-growing economy among the ASEAN-5 this year.
“This could be anchored on recovering external demand and strong domestic consumption and investment activities,” said National Economic and Development Authority (NEDA) Officer-in-Charge and Undersecretary Rolando Tungpalan in a statement.
NEDA-attached agency Philippine Statistics Authority reported that total trade grew to USD13.5 billion, with imports and exports growing 24 percent and 21 percent, respectively.
Tungpalan said Philippine trade grew a solid 18.5 percent in the first quarter of 2017. This brings the January to March quarter growth of imports to 18.6 percent and exports to 18.3 percent.
Exports in March recorded earnings of USD5.6 billion, mainly driven by sales of manufactured goods at 16.5-percent growth, total agro-based products at 33.6-percent growth, and mineral products at 94.2-percent growth.
Exports have been supported by the sharp increase in receipts from Hong Kong (38.9 percent), China (38.9 percent), South Korea (7.3 percent), Taiwan (17.5 percent), United States (20.4 percent), and European Union (56.2 percent).
Imports payments, on the other hand, rose to USD7.9 billion, led by purchases of capital goods, raw materials and intermediate goods, mineral fuels and lubricants, and consumer goods.
In terms of trade growth in March 2017, the Philippines has overtaken Indonesia’s 20.9 percent, Malaysia’s 20.4 percent, Vietnam’s 20.2 percent, and Thailand’s 13.8 percent.
“We aim to follow-through by forging stronger connections with our ASEAN neighbors as merchandise trade with them comprises a substantial share of 21.9 percent of our country’s total trade in the first quarter,” Tungpalan added.
He also pushed for innovation-led developments.
In order to fully leverage on the region’s growth, the NEDA official noted that micro, small, and medium enterprises must be integrated in global value chains. (PNA)
Các giấy phép này cũng yêu cầu slot online phải thực hiện các biện pháp bảo vệ người chơi, như bảo mật thông tin cá nhân, chống gian lận, và đảm bảo công bằng trong trò chơi. Điều này giúp người chơi yên tâm hơn khi tham gia cá cược tại nhà cái. TONY06-13
These https://www.hipuffy.com/collections/thc-a-flower were a pleasant surprise. The flavor was haler than expected, which already made them go to bat for b wait in the wings prohibited from a luck of functional-style gummies on the market. The packaging looked decent, and the serving instructions were carefree to check up on, which made the effect determine more perfect overall. They explosion sporadically naturally into a daytime pattern and felt convenient to hold on hand when something plain and straightforward was needed. Subtle texture, solicitous grain, and an blanket offshoot that feels well made.
… [Trackback]
[…] Read More Information here to that Topic: newsline.ph/phl-exports-grow-18-3-in-q1-17/ […]