The country’s trade deficit for January yawned its widest in 5 months by 27.2 percent to $5.74 billion, the biggest since the record monthly deficit of $5 billion in August.

January trade gap widest in 5 months

Because of continuing price escalations of fuel that triggers price hikes in basic commodities, Filipino consumers are more cautious about buying smartphones and loads to make ends meet for them and their families.

Spending on smartphones is second to basic commodities

The country’s trade deficit worsened in June to $5.843 billion. But Socioeconomic Planning Secretary Arsenio Balisacan expects the deficit to continue growing when the big- ticket infrastructure projects go into full-swing this year.

Trade deficit worsens in June

The Philippines ranked 44th out of 158 countries in the United Nations Conference on Trade and Development’s Readiness for Frontier Technologies Index. 

SEC launches new office for fintech innovation

To strengthen the implementation of as the Strategic Trade Management Act (STMA) in the Philippines, embodied in Republic Act 10697, Customs Commissioner Bienvenido Rubio, together with Dr. Ceferino S. Rodolfo, Undersecretary of the Department of Trade and Industry (DTI)-Industry Development Trade and Promotions Group, and Atty. Janice Sacedon-Dimayacyac, Director of the DTI-Strategic Trade Management Office (STMO), led a momentous event on Monday as they signed a memorandum of agreement (MOA).


 Effective strategic trade control

Local trade during the first quarter of 2022 suffered declines owing to the lockdowns from COVID-19 surges, the war by Russia in Ukraine, supply chain issues and inflation pressures that led to minimal traded volumes and values in the country.

Q1 domestic trade down by 35.6%

Global shipping costs will remain elevated throughout 2022 and could cause inflationary surges from supply chain problems and port congestion

Global shipping costs to stay elevated

With the Philippine Senate's ratification of the Free Trade Agreement (FTA) with South Korea, not only would exporters of fruits like bananas and pineapples benefit from the trade accord but investments from SK would also flow in.

PH to benefit from free trade with S. Korea

The total value of exports from Eastern Visayas dropped by almost half or 46.09 percent, from $201.51 million in February 2020 (before the Covid-19 pandemic) to $108.63 million in February 2021.

E. Visayas’ export volume continues slump

Trade gap widens to $5.7 billion in May reflecting higher prices of imported goods, principally oil, which the Philippine Statistics Authority said is the highest in five months or since the 39.1 percent growth in December 2021 (due to the Christmas season).

May trade deficit worsens

Spending on smartphones is second to basic commodities photo MediaPost

Global shipping costs to stay elevated photo AZ Big Media

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