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STRONG DEMAND CONTINUES TO BOOST IMPORTS GROWTH IN MAY 2016

The increase in local demand for capital and consumer goods drove imports growth by 39.3 percent year-on-year in May 2016, according to the National Economic and Development Authority (NEDA). The Philippine Statistics Authority reported today that the total payments for imported goods reached US$6.7 billion in May 2016 from US$4.8 billion in the same period.

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Manufacturing slightly declines in May 2016

The country’s manufacturing output declined in May, a first for 2016, owing to a significant drop in leather, chemical, and petroleum products production, according to the National Economic and Development Authority (NEDA). In the Philippine Statistics Authority’s Monthly Integrated Survey of Selected Industries for May 2016, the Volume of Production Index (VoPI) declined by 1.2

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NEDA urges refocusing of export strategies to ease decline

Philippine exports continued to dip for the fourteenth consecutive month in May 2016 due to weak global demand, prompting a need to refocus export strategies of firms, according to the National Economic and Development Authority (NEDA). The Philippine Statistics Authority released that exports declined by 3.8 percent year-on-year in May 2016 to US$4.7 billion as

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