DTI says PH exports resilient in 3rd quarter

Exports of goods and services remain resilient, expanding by 5.1 percent to $25 billion in the third quarter of 2019 from $23.78 billion year-on-year, despite the global uncertainty stemming from the US-China trade war.

“The President directive of being a friend to all nations allowed the Philippines to grow our exports despite the ongoing US-China trade war, which may have caused the decline in exports of other countries,” said Trade Secretary Ramon Lopez.

The Philippines is pushing for the conclusion of free trade agreements like the Regional Comprehensive Economic Partnership (RCEP) and the Philippine-Korea Free Trade Agreement in 2020 to expand market access for manufactured goods as well as agri-based products.