The value of Philippine exports is forecast to grow by just about half what the government expects with no sign of the anticipated global rebound in electronics, according to the DBS Group.
Farmers’ groups have long complained about smuggling that has been very detrimental to their livelihood. Quick actions are imperative.
Agro-based products, minerals and petroleum helped keep merchandise exports stable for March, slightly reversing the negative trend posted in the last two months, the National Economic and Development Authority said.
The peso inched up on Wednesday as reports of growing Chinese exports and imports lifted outlook on emerging economies.
The Bangko Sentral ng Pilipinas has expressed optimism that the economy was poised to again grow beyond 6 percent and exports to expand at a faster pace in 2013, citing favorable indicators so far this year.
The Philippines is seeking new markets for sugar and bananas to boost agro-based exports, the National Economic and Development Authority (Neda) said.
A key solution to the smuggling problems today is to have a structure that has already proven successful in the past. This is the Task Force on Anti-smuggling created through EO 385 on Nov. 16, 2004.
The value of Philippine exports fell 15.6 percent year on year to $3.74 billion in February, much worse than the decline in January, as hints of a recovery in electronics failed to materialize.
Philippine exports appeared to have contracted faster at -2.9 percent year on year in February as shipments of electronics failed to recover as expected, according to data from DBS Group.
Philippine exports in January dropped for the first time in five months as demand for the country’s electronics products remained weak, the National Statistics Office reported Tuesday.
The fiber Industry Development Authority (Fida) expects abaca exports to grow by 5 to 8 percent in 2013 as new markets open up in France, Spain, Qatar and Russia.
Exports climbed 16.5 percent in December to $3.97 billion, the biggest rise in three months, helped by sales of tropical fruits and some nontraditional items such as petroleum products, the National Statistics Office reported Tuesday.
