The National Economic and Development Authority (NEDA) is optimistic that the negative growth of the Philippine merchandise exports will not dampen the country’s economy.
“The recent exports data, it would not affect the growth. Because the one that gets into your GDP [gross domestic product] is exports minus imports,” NEDA Director General Arsenio Balisacan said on Tuesday at the sidelines of the Financing Infrastructure Development seminar in Makati City.
He added that the government is still hopeful that the economy, as measured by GDP, is within the 6-percent to 7-percent target for the first quarter and the rest of the year.
Latest data from the National Statistics Office (NSO) showed that January exports dipped by 2.7 percent, while February data recorded a double-digit negative growth of 15.6 percent. The NSO attributed the slow exports performance to the declining receipts on electronic products.
The NEDA chief also said that the government is developing its major commodity programs and commodity roadmaps.
He noted that those programs will allow the government to expand exports for other commodities and not just electronics, but also in agro-processing.
Balisacan mentioned that there is so much potential for agro-process exports, and that will allow the government to get more aggressive in the exports side.
“If one side is not doing well, you have to look at some other things. I think that the decline in exports is just temporary,” he added.
The NEDA chief also asserted that exports should be diversified to avoid vulnerability, and it should not focus to a certain group of commodities, but on other products also.
He explained that there has been a lot of diversification, adding that in the past few years, electronics comprise about 70 percent of exports, but now it is less than 50 percent.
“And it will continue to decrease as other sources of exports will grow faster,” Balisacan added. –MAYVELIN U. CARABALLO REPORTER, Manila Times
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
