UNCTAD: PH exports could drop by $300M due to China virus

A United Nations Conference on Trade and Development (UNCTAD) report predicts that Philippine exports could decrease by $300 million this year due to disruptions caused by the coronavirus outbreak in China.

The Philippines ranks 18th among economies most affected, with key manufacturing sectors like automotive and communication equipment expected to suffer significant declines.

Specifically, UNCTAD estimates a potential loss of $115 million in exports for communication equipment, $77 million for office machinery, $42 million for electrical machinery, and $22 million for automotive products.

These figures are preliminary as the full impact of the outbreak will become clearer over time.