DTI bares ‘record level’ $70.3-billion exports in 2019

in World News

Philippine exports reached record high  $70.3 billion in 2019, from $69.3 billion in 2018, despite external headwinds from the global trade policy uncertainties, geopolitical tensions, and country-specific challenges, Trade Secretary Ramon M. Lopez revealed this week.

“The relatively strong export performance of the Philippines transpired amid DTI’s [Department of Trade and Industry] strong efforts in attracting investments, spurring MSME [micro, small and medium enterprises] development, and promoting the ease of doing business,” the trade chief said.

Growing at 1.5 percent year-to-date, the country’s export growth is also the second-best performer among East Asian economies, next to Vietnam. The Philippines, China and Vietnam were the only three countries that reported positive export performance among 11 trade-oriented Asian economies last year.

“Our goal was to expand the productive capacity and export base, as well as in actively enhancing trade relations with existing partner economies, by marketing products abroad and exploring new export

Read More: https://businessmirror.com.ph/2020/02/15/dti-bares-record-level-70-3-billion-exports-in-2019/

Photo Credit: BusinessMirror

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