MANILA, Philippines — The Philippines closed 2021 as the second fastest growing market for motor vehicles in Southeast Asia, with the number of units produced and sold registering double-digit increases from the previous year. Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed the number of motor vehicles assembled in Philippine […]
Read MoreMANILA, Philippines — The Philippines is expected to enjoy a continued growth spurt in the next decade with economic output hitting $1 trillion by 2033, buoyed largely by expanding private consumption, according to market intelligence firm IHS Markit. In a report, IHS Markit Asia-Pacific chief economist Rajiv Biswas said the Philippines may experience rapid economic […]
Read MoreMANILA, Philippines — The country’s trade balance tilted to its widest deficit in three years in 2021 as soaring oil demand and restocking supplies in line with the global economic recovery pushed imports to all-time highs. Latest data from the Philippine Statistics Authority (PSA) showed the country’s trade shortfall more than doubled to reach a […]
Read MoreMANILA, Philippines — The semiconductor and electronics industry expects its exports to grow by 10 percent this year as global demand continues to rise. Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) chairman Glenn Everett said during the group’s general membership meeting yesterday they are forecasting a 10 percent growth this year, based […]
Read MoreMANILA, Philippines — The Philippine economy grew by 5.6 percent in 2021, beating market expectations, as consumption was fueled by revenge spending in the fourth quarter, prompting the government to maintain a return to pre-pandemic levels this year. The economy, as measured by gross domestic product (GDP) or the final goods and services produced in […]
Read MoreUOB on Thursday (Jan 17) kept its 2022 full-year gross domestic product (GDP) growth forecast of 6.5 per cent for the Philippines, lower than Manila’s forecast of 7-9 per cent. The research house, which believes the country’s growth outlook remains subject to downside risks, listed the risks as the pandemic, prolonged global supply chain disruptions, […]
Read More
Thailand
