The government has highlighted the edge of the country as an investment destination as it pushed for the resumption of free trade agreement talks between the Philippines and the European Union.
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AS the world continued to grapple with the slowdown in global trade, the country’s export earnings and import receipts posted their slowest growth since last year, according to preliminary data released by the Philippine Statistics Authority (PSA). Based on the PSA data, the country’s exports grew 6 percent year-on-year in…
DTI Secretary Ramon Lopez MANILA - Philippine merchandise exports grew by 6 percent in April, with a value reaching USD6.1 billion, based on preliminary data from the Philippine Statistics Authority (PSA). Of the USD348 million additional exports in April 2022, coconut products contributed USD164 million or 47 percent of the incremental export sales for the month. This was primarily driven by exports of coconut oil which grew 2.5 times its export level compared to last year. Since February 2021, exports of coconut oil have been increasing at double-digit growth rates. For the first four months of the year, export sales increased by USD2.1 billion as compared to the same period last year. A quarter of these incremental exports comprises sales of coconut products. In total, exports increased by 8.9 percent to USD25.6 billion from USD23.5 billion in 2021. Based on the PSA's preliminary data, April 2022 was estimated to be 14.5 percent higher than the pre-pandemic average from 2017 to