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Philippines: Foreign debt down 6.7% in H1

MANILA, Philippines — The country’s external debt slipped 6.7 percent in the first half due to the weakening of the peso and other regional currencies against the dollar, the Bangko Sentral ng Pilipinas reported over the weekend. BSP officer-in-charge Diwa Guinigundo said external debt stood at $72.5 billion in end-June, $5.2 billion lower than the […]

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Philippines: Peso slips back to P51:$1 level

The peso fell back into P51:$1 territory on Thursday on the likelihood of a fresh US Federal Reserve rate hike. “The peso depreciated today as an upbeat US report on producer prices keeps open the possibility of another US rate hike this year,” Land Bank of the Philippines market economist Guian Angelo Dumalagan said. “Developments […]

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Philippines: Trade deficit shrinks in July

MANILA, Philippines — The country’s trade deficit fell 30.37 percent in July as the double-digit growth in exports offset the decrease in imports, the Philippine Statistics Authority (PSA) reported yesterday. Total external trade in goods in July 2016 reached 12.22 billion, up 2.2. percent from $11.95 billion in July 2016. Total exports rose 10.4 percent […]

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Philippines trade gap narrows in July

THE Philippines’ trade deficit narrowed in July as imports dropped amid double-digit growth in exports, prompting optimism from the government about prospects for the rest of the year. “The country’s balance of trade in goods … [was]$1.65 billion in deficit in [July] 2017, lower than the $2.37 billion in July 2016,” the Philippine Statistics (PSA) […]

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Philippines: Jobless ranks swell in July

THE Philippine job market lost some momentum in July as unemployment slightly worsened from a year earlier, the Philippine Statistics Authority (PSA) reported on Tuesday. Results of the latest Labor Force Survey (LFS) put the jobless rate at 5.6 percent for the month from 5.4 percent in 2016. This translates to 2.37 million Filipinos without […]

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