Headlines
PHL EXPORTS YIELD GROWTH IN DECEMBER 2016
The Department of Trade and Industry sees sustained growth for exports in 2017 as Philippine exported goods yielded a 4.5% growth in December 2016 with a total of $4.71 billion in export revenues from $4.660 billion in the same period in 2015. “As we implement new strategies in diversifying our markets and upscaling our products and services amidst the slowdown in global trade, we hope that our exports will continue to improve in the next quarters” said DTI Industry Promotion Group Undersecretary Nora K. Terrado. In a report released by Philippine Statistics Authority (PSA), increase in the top five (5) major export commodities contributed to the growth which include coconut oil (crude and refined; 146.5%), other mineral products (104.5%), metal components (66.4%), chemicals (42.1%), and other manufactures (35.8%). While electronic products experienced a 2.8% decrease in total receipts as compared to 2015 data, these remained to be the top export product of the country with total receipts of $2.451 billion, accounting for 50.3% of the total exports revenue in December 2016. Other Manufactures ranked second with 7.2% share to the total export receipts. It recorded an increase of 35.8% from December 2015 value of $257.32 million. It is followed by Machinery and Transport Equipment with export revenue of $227.05 million, Woodcrafts and Furniture with total sales of $202.14 million, and Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircraft and Ships with $153.72 million export sales. “ Notable 67.5% increase in the exports of our Agro-Based Products in December 2016 is a good indication that our agrisector will be up in the coming months. We hope to... read morePH CHAMPIONS MSMES, YOUTH AND WOMEN ENTREPRENEURSHIP FOR ASEAN 2017 BUSINESS AND INVESTMENT PROGRAM
Philippines, through the Department of Trade and Industry, unveils business programs that champion the promotion of micro, small and medium enterprises (MSMEs), youth and women entrepreneurship at the ASEAN 2017 Business and Investment Program (ABIP) Launch at the at the Rizal Ceremonial Hall in Malacañang last month. The development of MSMEs is among the priority areas in terms of ASEAN’s policy focus and resources. ASEAN Economic Community (AEC) 2025 Pillar 4 (“Resilient, Inclusive, People-Oriented, and People-Centered ASEAN”) reinforces the MSME-oriented mandate and supports the significant work of ASEAN in providing an enabling environment for MSME development and internationalization. “Philippines, through DTI, wants to highlight business programs and events that will complement the ASEAN efforts to champion the inclusion of micro, small and medium enterprises (MSMEs) in the international trade, and the strengthened promotion of youth and women entrepreneurship,” said DTI Secretary Ramon M. Lopez. During the ASEAN Business and Investment Program launch, DTI Secretary Lopez shared programs developed which provides the business component of the priority themes and policies that the Philippines is advocating under the AEC pillar with an ASEAN perspective. The following programs were developed by DTI as chair for the ASEAN 2017 Committee on Business and Investment Promotion: ASEAN MSMEs-Mentors Conference 2017; ASEAN Creative Cities Forum and Exhibit ; ASEAN at International Food Exposition Philippines 2017; ASEAN Women’s Business Conference; Inclusive Business Summit; 2nd ASEAN Young Entrepreneurs Carnival; Creative Marketplace; Slingshot ASEAN; and ASEAN MSME Summit. Further to this, through the priority agenda of “inclusive, innovation-led growth”, the Philippines is poised to champion the MSME mandate in the ASEAN through the following strategic measures: (1)... read more