The Marcos administration slashed its trade projections for this year after April readouts showed two-digit drops in exports, imports and two-way traffic amid tepid global demand. | RonWDomingoINQ /PDI
Still, the committee expects exports to stabilize at 6 percent and imports at 8 percent from 2024 through 2028.
Ricafort also noted that imports were near two-year lows amid lower global commodity prices, which is pushing down the country’s import bill. This “could benefit Philippine exporters in terms of increased export sales to more RCEP member countries at lower tariffs,” he added.
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