Merchandise imports declined by 10.8 percent in November 2014 as lower payments for capital goods and mineral fuels and lubricants largely negated the growth in the value of imported raw materials and intermediate goods and consumer goods
The Philippines outperformed Vietnam (10.8%), People’s Republic of China (4.7%), Taiwan (3.7%), Hong Kong (2.8%), Thailand (-1.0%), Republic of Korea (-2.1%), Malaysia (-2.3%), Singapore (-6.4%), Japan (-10.0%), and Indonesia (-14.6%).
Cutbacks in the prices of petroleum and electricity, with lower increases in the price of most food items, brought headline inflation down to 2.7% in December 2014 from 3.7% in the previous month, according to the National Economic and Development Authority (NEDA).
The Filipino spirit of ‘bayanihan’ has been rekindled once again as the nation’s greatest roster of volunteers and volunteer groups were recognized at the 2014 Search for Outstanding Volunteers (SOV) awarding ceremony last December 10, 2014, at the Speaker Feliciano Belmonte Hall, House of Representatives, Quezon, City.
I call on everyone to give their support and work with the government in sustaining and strengthening the reforms that have been started and that have already started to produce tangible results.
Significant gains were registered by the country’s labor market as employment figures for October 2014 revealed that better quality jobs were generated and unemployment dropped to its lowest in 10 years, according to the National Economic and Development Authority (NEDA).
Philippine merchandise exports grew by 2.9 percent as higher export earnings from manufactures and total agro-based commodities counterpoised weaker sales of minerals, petroleum, and forest products, according to the National Economic and Development Authority (NEDA).
I hope that this symposium will serve as a venue for breakthrough discussions on how our economies can reinforce initiatives that will push forth these priorities. The Philippines is optimistic that with your support, our vision of inclusivity will come to fruition.
Lower food prices and cheaper local petroleum and electricity pulled down inflation rate to 3.7 percent in November, its lowest level this year, according to the National Economic and Development Authority (NEDA).
The Director-General of NEDA talks about the Philippines’ gross domestic product growth of 5.3% for the third quarter of 2014.