INFOGRAPHIC: Fragile global demand pulls down PHL exports in April – NEDA

Philippine merchandise exports declined by 4.1 percent in April 2015 following a modest rebound of 2.1 percent in the previous month, due to lower revenues from petroleum, mineral and agro-based products, according to the National Economic and Development Authority (NEDA).

 

In a separate report, the Philippine Statistics Authority on Wednesday said the total value of outward shipments fell to $4.4 billion in April 2015 from $4.6 billion in the same period last year. 

 

The export sector remains vulnerable to declining demand from the Philippines major trading partners, said NEDA Director- General Arsenio Balisacan.  The softening of economic activity in China as well as the still fragile economic growth of Japan remains a downside risk for the Philippine export sector.

 

“To counter the weak demand from our major markets, the government should maximize existing trade agreements, especially with emerging economies benefitting from the low oil price environment. Also, this shows the importance of restoring traction in government spending,” Balisacan said. – VS, GMA News