Headlines
PH exports continue to grow, up by 11% in Feb 2017
Philippine exports posted an increase of 11% with total sales of $4.782 billion for the month of February 2017, marking its third month of positive growth according to a report released by the Philippine Statistics Authority (PSA). For February 2017, eight out of ten top major Philippine exported goods rose with electronic products comprising 51.6% of the total exports revenue amounting to $2.470 billion compared to $2.131 billion registered in the same period last year. Other products that increased include cathodes and sections of cathodes, of refined copper (946.9%); other mineral products (107.5%); coconut oil (66.5%); electronic equipment and parts (64.9%); metal components (29.4%); other manufactures (20.1%); electronic products (15.9%); and chemicals (9.6%). United States (US) topped other Philippine export destinations for the said month, accounting for 15.6% to total exports with receipts valued at $745.22 million. It is followed by Japan with 15.25% share with revenues amounting to $728.35 million. The increase in February 2017 exports lifted the cumulative value of merchandise exports by 17.36% for the first two months of 2017 compared to the same period in 2016, based on preliminary data from the Philippine Statistics Authority (PSA). Continued export growth can be attributed to the significant increase of Philippine electronic products by 13.24% in the first two months of 2017. This stemmed from the positive performance of the six out of nine subsectors of the industry which contributed 96.74% share in the cumulative total value of the industry. Department of Trade and Industry’s Export Marketing Bureau (DTI-EMB) noted that the increasing efforts of the Philippines in strengthening ties with its ASEAN neighbors... read morePH pushes for promotion of creative industries in ASEAN
The Department of Trade and Industry (DTI) through its Design Center of the Philippines (Design Center) will be holding the ASEAN Creative Cities Forum and Exhibition (ACCFE) slated on 24-27 April 2017 at the Bonifacio Global City in Taguig. Through ACCFE, the country aims to promote the lucrative economic potentials of its creative industries, creative clusters, and creative cities as a viable strategy for sustainable and inclusive development in the region. “This is also a key initiative to usher the membership of at least one Philippine city in the UNESCO Creative Cities Network by 2018 and further support the development of the 2017 Creative Industries Roadmap,” highlighted DTI Trade and Investments Promotion Group Undersecretary and ASEAN 2017 Committee on Business and Investment Promotion (CBIP) Chairperson Nora K. Terrado. The event also aims to establish DTI and its Design Center of the Philippines as key players in the development of the Philippine Creative Industries particularly in the area of design. “The Philippines is teeming with rich talent in various creative fields, including sectors that are under Design Center’s mandate—product design, fashion, graphic design. It’s about time we recognize this, and harness this pool of creativity towards a movement that will be beneficial to all creative stakeholders,” shares Rhea O. Matute, Executive Director of the Design Center. Creative economy is an emerging concept that deals with creativity, culture, economics and technology. Vital to this emerging type of economy are goods and services that use creativity and intellectual property as primary inputs. “To have one Philippine city included in the UNESCO Creative Cities Network would mean that every Filipino’s... read more