PHILIPPINE TRADE & INVESTMENT CENTER TAIPEI
  • Home
  • Doing Business
  • News
  • Events & Announcements
  • Feature
  • Gallery
  • Contact
  • Press Releases

Exports rose 1% to $6.2b in May — PSA

7/11/2019

 
Exports rose for a second month on higher demand for electronic products, data from the Philippine Statistics Authority show.

Merchandise exports in May reached $6.16 billion, up 1 percent from $6.09 billion a year ago. Electronic products. which accounted for 56 percent of total exports, increased 6.2 percent to $3.45 billion from $3.25 billion in the same month last year.

Other commodities that saw higher export sales in May were copper concentrates (up 192.1 percent); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (up 31.7 percent); fresh bananas (up 28.6 percent); chemicals (20.1 percent); metal components (14 percent); and gold (8.3 percent).

Meanwhile, imports shrank 5.4 percent in May to $9.43 billion from $9.97 billion a year earlier. This reduced the trade deficit in May to $3.28 billion from a $3.88-billion shortfall in May 2018.  

The trade deficit in the first five months, however, still widened to $16.5 billion from $15.7 billion in the same month last year.

The National Economic and Development Authority said outlook remained upbeat for the economy despite the weak trade figures.

“Global economic outlook for 2019 remains subdued as policy uncertainties and some geopolitical tensions continue to pose risks to many economies. But amid these external developments, the country’s economic outlook remains upbeat,” said Neda director-general and Economic Planning Secretary Ernesto Pernia.


Read more: Manila Standard

Comments are closed.
    Picture
    ABOUT PTIC TAIPEI
    The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan​

    Archives

    April 2021
    March 2021
    November 2020
    October 2020
    September 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    September 2017

Proudly powered by Weebly
  • Home
  • Doing Business
  • News
  • Events & Announcements
  • Feature
  • Gallery
  • Contact
  • Press Releases