MANILA, Philippines — Foreign trade climbed up in September as exports picked up amid a growing import bill, resulting in a smaller trade deficit. The Philippines’ external trade grew 11.3% year-on-year to $19.14 billion in September, data from the Philippine Statistics Authority released Friday showed. This was slower compared to the 15% annual growth rate […]
Read MoreAsia’s strong economic rebound early this year is losing momentum, with a weaker than expected second quarter. The International Monetary Fund has cut growth forecasts for Asia and the Pacific to 4% this year and 4.3% next year, which are well below the 5.5% average over the last two decades. Despite this, Asia remains a relative […]
Read MorePETALING JAYA: Bank Negara’s Monetary Policy Committee (MPC) has raised its benchmark overnight policy rate (OPR) by 25 basis points (bps) to 2.75%, with the central bank stating future policy action need not remain on the linear trajectory seen in 2022 and balanced by the need to contain inflationary pressure and sustain economic growth. This […]
Read MoreAccording to a World Bank forecast Myanmar GDP shrank by 20 per cent in 2021 after the 2021 military coup and the economy will remain sluggish and stagnate in 2022. The International Labour Organization (ILO) also reported that in 2021 1.6 million jobs were lost in the economy, adding to the economic problems. On 21 […]
Read MoreThe Ministry of Finance (MOF) says that petroleum companies will shift to importing fuels from Southeast Asia instead of South Korea. Regarding import and export tax revenue in 2023, MOF told the National Assembly that it would not increase by 4-6 percent this year as targeted because of gradual tariff decreases. The average preferential import […]
Read MoreSINGAPORE’S retail sales continued to increase on year in September, while marking growth on a seasonally adjusted monthly basis and reversing from the decline seen in August, according to the latest figures from the Department of Statistics (Singstat) on Friday (Nov 4). Total retail sales went up by 11.2 per cent year on year in […]
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Thailand
