Saturday, February 4, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Finance sees exports rebounding this year

Gabrielle H. BinadaybyGabrielle H. Binaday
January 24, 2017, 9:23 pm
in Business
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

The Finance Department said Tuesday it expects exports to recover this year on improved trade with China and Russia, following a dismal 5-percent year-on-year drop in the first 11 months of 2016.

Finance Undersecretary Gil Beltran, however, said the export sector should increase its competitiveness amid the intensifying competition.

Beltran said in an economic bulletin the government should implement the necessary agenda and programs vital to improving the export sector.

Data from the Philippine Statistics Authority showed merchandise exports fell 7.5 percent to $4.732 billion in November 2016 from $5.118 billion in the same month in 2015.

Total merchandise exports also dropped 5.2 percent in the first 11 months of 2016 to $51.361 billion from $54.168 billion in 2015.  Merchandise imports climbed 13.7 percent in the 11-month period to $73.7 billion from $64.8 billion.

ADVERTISEMENT

This resulted in a record $22.4-billion trade deficit in the first 11 months of 2016, wider than $10.7 billion a year ago.

Beltran said that amid slowing exports, the government should pursue infrastructure development, free trade and bilateral trade agreements and the empowerment of micro, small and medium enterprises.

“We should continue infrastructure development especially in port areas to enhance cross-border trading; pursuit of free trade and bilateral trade agreements with other economies and regions; and capacitating MSMEs to tap export markets,” Beltran said.

Data from the Finance Department showed around 60 percent of the country’s exporters were MSMEs. Beltran said an enhanced access to credit would further improve the export capability of these small entrepreneurs.

Finance Secretary Carlos Dominguez III earlier said President Rodrigo Duterte wanted to explore or expand opportunities with countries other than traditional trading partners in line with government plans to further open up the economy to foreign investors.

Data showed only $46 million worth of Philippine goods were shipped to Russia every year, while China ranked as the fourth largest buyer of the country’s exports at $5.58 billion as of November 2016.

China and Russia are being eyed by the government as major destinations for Philippine agricultural produce and manufactured crafts, following President Duterte’s rebalanced foreign policy directions.

Tags: ChinaDepartment of FinanceexportsFinance Undersecretary Gil BeltranRussia
ADVERTISEMENT
Gabrielle H. Binaday

Gabrielle H. Binaday

Related Posts

BPOs to boost office space demand in 2023

byOthel V. Campos
February 3, 2023, 9:55 pm
0
8
BPO Philippines: Offshore Outsourcing vs. Staffing

Office space demand in the Philippines is expected to double to 228,000 square meters in 2023 from 110,500 sq. m....

Read more

Power rates likely higher in February—Meralco

byAlena Mae S. Flores
February 3, 2023, 9:50 pm
0
8
Meter inspection

Power retailer Manila Electric Co. said Friday electricity rates may be higher in February following the lapse of a distribution-related...

Read more

Vista Land plans to issue P2.9b in corporate notes

byManila Standard Business
February 3, 2023, 9:45 pm
0
8
Villar Group bares plan to list REIT unit, renewable energy firm

Vista Land & Lifescapes, Inc., the real estate arm of billionaire Manuel Villar Jr., announced Friday its plan to issue...

Read more

Pag-IBIG Fund members’ savings reached record P79.9b in 2022

byManila Standard Business
February 3, 2023, 9:40 pm
0
8
Pag-IBIG Fund financed 17,268 socialized homes in first 10 months

Pag-IBIG Fund members collectively saved nearly P80 billion in 2022, setting another record for the highest amount saved by members...

Read more

MRT-3 promises improved services after overhaul of 72 light rail vehicles

byDarwin G. Amojelar
February 3, 2023, 9:35 pm
0
8
Drama on deaf family ‘CODA’ wins top Oscar

The management of Metro Rail Transit-3 said Friday passengers can expect faster and reliable services after the overhaul of 72...

Read more

Converge posts highest speed for video streaming

byDarwin G. Amojelar
February 3, 2023, 9:30 pm
0
8
Converge calls government attention on damaged cables, works overtime to avoid service disruption

Fiber broadband provider Converge ICT Solutions Inc. logged the highest speed for video streaming based on Netflix’s ISP speed index...

Read more

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • PH, US revive joint sea patrols
  • Indonesia tells major powers to keep SEA out of rivalries
  • NEDA approves six big-ticket projects worth over P100b
  • Oil price rollback as much as P2/liter likely next Tuesday to snap 3-wk hike
  • BI relieves warden facility head, staff
  • OFW in Kuwait paralyzed after fall from 3rd floor
  • Farmers hurting over low onion farmgate prices

Advertisement

Latest News

BI relieves warden facility head, staff

byRey E. Requejo
February 4, 2023, 1:10 am
0
8
BI relieves warden facility head, staff

The Bureau of Immigration (BI) has relieved the head and other personnel of its warden facility after six mobile phones...

Read more

OFW in Kuwait paralyzed after fall from 3rd floor

byJoyce Pangco Panares
February 4, 2023, 1:00 am
0
8
Vax wastage, infection surge feared in Odette-hit areas

A 34-year-old overseas Filipino worker in Kuwait has become paralyzed from the waist down after escaping her “abusive” employer by...

Read more

Farmers hurting over low onion farmgate prices

byManila Standard
February 4, 2023, 12:20 am
0
8
Can’t afford onions per kilo? DA says buy per piece

Farmgate prices of onions have gone down amid the arrival of imported ones, the Samahang Industriya ng Agrikultura (SINAG) said....

Read more

Death or injury

byManila Standard
February 4, 2023, 12:15 am
0
8
Death or injury

The heart-warming video of a sister engaging former professional boxer Prichard Colon Melendez, strapped on a special medical bed, in...

Read more

The ICC and Duterte, the next phase

byTony La Viña
February 4, 2023, 12:05 am
0
8
Denying Villafuerte justice

"The International Criminal Court can only intervene where a State is unable or unwilling genuinely to carry out the investigation...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App