One of the challenges now facing the Department of Agriculture is to find new markets for Philippine agricultural products and help the massive agriculture sector grow at a faster pace.
The country’s current account surplus increased slightly in 2012 in view of the continued rise in foreign exchange remittances and the recovery of the export sector.
Japan’s weak yen is turning the tables on its Asian exporting rival South Korea. For several years, South Korean manufacturers such as Hyundai and Samsung Electronics increased their market share at the expense of Japanese rivals partly because South Korea’s currency, the won, was weak while the yen was rising against the dollar and other currencies.
China said Tuesday it faces a bleak foreign trade environment in 2013 due to ongoing global economic weakness, as the Asian export powerhouse appears set to miss this year’s trade growth target.
Economic growth throughout much of Asia will slow slightly this year and next, weighed down by weak export demand from major industrial economies and China, the Asian Development Bank said Friday.
Philippine exports rose at their fastest pace in almost two years in September as the troubled electronics sector recovered and shipments to Japan soared, the government said Tuesday.
The contribution of exports to the Philippine economy may shrink in the years ahead given the bleak growth prospects in major export markets, the Bangko Sentral ng Pilipinas said Monday.
Thai exports are likely to miss growth targets for 2012, a top official said Wednesday, as the global economic slowdown and a slump in rice shipments hit demand.
Philippine exports grew at a faster pace in July after a slowdown in the previous month but shipments of electronics, the country’s top export, continued to drop given the sluggish global economy.
The Philippines is preparing to send a business mission to Turkey for exporters to scout opportunities in the fast-growing economy, according to the Department of Trade and Industry (DTI).
The Bangko Sentral ng Pilipinas said the country’s export revenues could grow by a faster pace in the months ahead on the back of a modest pick-up in global demand.
A government loan announced Friday will revive one of Canada’s last asbestos mines, assuring exports of the fireproofing and insulating fibers for another 20 years.
