NEDA pushes for streamlined trade processes amid COVID-19

The government is pushing for measures to streamline processes and facilitate trade amid the coronavirus outbreak.

In January 2020, the country's total merchandise trade grew by 4.1%, reaching USD15.1 billion, with exports growing by 9.7% due to strong expansions in manufactured goods, agro-based products, mineral products, and forest products.

The Philippines outperformed neighboring Asian countries in export growth in January 2020, but economists warn that the positive trend may be short-lived due to disruptions caused by the coronavirus outbreak.

Imports increased by only 1% to USD9.3 billion, reversing a 7.6% contraction in December 2019 and marking a narrower trade deficit of USD3.5 billion.