Neda: Global economy to sustain PH trade growth
THE National Economic and Development Authority (Neda) encouraged businesses in the Philippines to take advantage of the global economy’s solid footing as it is expected to support the country’s trade performance, especially in terms of exports.
Neda-attached agency Philippine Statistics Authority (PSA) reported that the country’s total trade picked up by 10.0 percent to $12.4 billion in February 2018 backed by imports that grew by 18.6 percent as all commodity groups sustained positive gains.
On the other hand, merchandise exports fell for the first time since November 2016 due to lower receipts from total agro-based products, manufactures, and petroleum products.
Among agro-based products, export of coconut products fell by 50.8 percent from a high 66.9 percent growth in 2017.PR