Philippines' merchandise exports fell 12.8% in April

8 in 10 top markets declined.

According to Maybank Kim Eng, following a slight 0.2% YoY increase in March, merchandise exports contracted 12.8% in April (USD4.04b) to bring the decline YTD to 7.9% (USD16.1b).

Here's more:

Except for Japan and Thailand, all others in the top 10 markets declined in April, with China down 8.2% and the US 10.2%. This shows the weakness of external demand given the still-fragile state of the world economy.

Our outlook for this year does not depend on the incipient recovery of the global economy. Indeed, what we have factored into our forecasts is a decline in external demand, with the boost provided by services exports more than offset by the drag from goods exports.

We believe strong domestic consumption and investment will persist on the back of sustained consumer and business confidence, a substantial domestic population, low interest rates and government spending.

This should more than make up for falling merchandise exports and was the main reason for the recent upward revision to our 2013 GDP growth forecast to 7.5% from 6.4%.

Also Read

Singapore ranks second in global economic freedom

Economists forecast modest NODX growth for Singapore in 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit