PH external trade rose 25.3% to $16.5B in August

The Philippines’ external trade rose by 25.3% to $16.5 billion in August this year compared with the same month last year. Around half of the total exports were from the electronics sector due to strong global demand. Using the same period comparison, imports also increased by 30.8% to $10.04 billion. According to ING Philippines senior economist Nicholas Mapa, “all major sectors posted gains,” although there were certain sectors that did not perform as well in the import arena. Some of the import categories that showed the most growth are capital goods, raw materials, metals, and fuel; while those that did not expand as much were consumer goods and aircraft and ships.

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