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ASEAN: PH, Asean trade outperforming world
ASEAN: PH, Asean trade outperforming world
Friday, August 12, 2016 – THE Philippines, along with Asean neighbors Malaysia, Thailand, and Indonesia, appears to be performing better in export terms despite signs of a significant slowdown elsewhere in Asia and the world, an analysis of the latest economic data shows.
Data collected by the World Bank indicates that Asian trade has retreated considerably from year-ago levels, and the picture is rather grim among major Asian exporters outside the Association of Southeast Asian Nations (Asean).
Exports from China fell 4.8 percent year-on-year in June, while South Korea saw a 2.7 percent retraction in June widening to a 10.2 percent drop in July. Japan experienced slight improvement in June as it registered only a single-digit decline of 7.4 percent that month after recording declines of 10.1 percent and 11.3 percent in April and May, respectively. Taiwan likewise saw a year-on-year drop in exports, with outbound trade shrinking 2.1 percent.?Read More?