Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Thailand   News  >>   Trade   >>  Philippines expects exports to drop
NEWS UPDATES Asean Affairs  27  December   2010

Philippines expects exports to drop

Related Stories

December  20, 2010
Philippine exports return to pre-crisis level

November  27, 2010
Philippine exports continue fast pace

November 15, 2010
South America could get Philippines outsourcing  

November 6, 2010
 Philippines exporters lower target

September  27, 2010
Philippines behind US garment bill

Philippine economic managers expect exports next year to slow down because of a strong peso and weakening demand from the country's major markets, according to Socioeconomic Planning Secretary Cayetano Paderanga told reporters.

He said the peso is likely to stay where it is right now "at least the early part going to the first half of 2011."

At present, the foreign exchange rate stood at P44 against the US dollar. "All of the exporters are experiencing the weakening of the dollar [which] also shows that our traditional market [US and Europe] are also not robust as [they] used to be," Paderanga said.

He said growth next year may still come in at double digits, but lower than this year's 15 percent target.

The Bangko Sentral ng Pilipinas, which earlier forecast a 10 percent growth for next year, said the number is subject to another review before the end of the year, with the likelihood of a downward revision.

"We will have to review our forecast given what is happening in the global economy. There is a continued weakness in global economic activity and this could influence our exports," BSP Deputy Governor Diwa Guinigundo said.

He said the expected slowdown would also stem from base effects given the abnormally high growth this year.

But "what we are concerned about is really the market," Paderanga said, adding that the government is hopeful that growth will come from the country's new markets.

"There's an increasing trade with Asian rim. That's been noticed in the past few years," he said.

Merchandise exports to East Asia in October accounted for 41.4 percent of the total, while shipments to Asean member-countries represented 25.8 percent.

Sales to the European Union and the US accounted for 11 percent and 14.7 percent, respectively. Data from the National Statistics Office showed that export revenues grew by 37 percent to $43 billion in the first 10 months this year.

The expansion was led by the electronics sector, demand for which recovered this year following a steep slowdown in 2009.

Economists said that in times of crisis, consumers skip buying goods considered as non-essential like electronics, but these products were one of the most attractive for consumers in times of recovery.

This year's recovery of the Philippine export sector, whose earnings declined more than 20 percent in 2009, came as the global economy rebounded from a recession last year.



Politics

Home  >>  Daily News  >>  Industry Updates  >>  Politics

August  20, 2010
Aquino wants to rebuild

Thai oil giant may buy Carrefour

Indonesia-Malaysia dispute needs closure

Reuniting with overseas Vietnamese

August 16, 2010
Asean unity for US-China rivalry

Vietnamese PM Calls for Asean Blueprint

Asean mediation sought

August 13, 2010
Myanmar holds general election Nov. 7

August 12, 2010
Thai court seizes (finally) Thaksin's billions

August 9, 2010
Vietnamese Prime Minister highlights Asean

August  7, 2010
Thai Business leaders call for agency role

Vietnam rural reconstruction initiative

August  6, 2010
Indonesia to revise rules on procurement bids

Cultural cooperation in Indian Ocean rim

Asean wants formal sea code

July 21,2010
North Korea, Myanmar dominate ASEAN meet

July 26, 2010
Philippines’ Aquino to outline program

Philippine legislators against new taxes

India hosts Myanmar general

July 24, 2010
ASEAN meetings end on high note

July 17, 2010
Hmong activists protest

Aquino takes on Philippine casinos

July  13, 2010
US concerned about Myanmar

July  12, 2010
Splinter group to run in Burma poll

June 30, 2010
Cambodia denies harbouring Thai activists

Aquino inaugurated, wants to end poverty

Thaksin lawyer lobbies in Washington

June 29, 2010
Ethnic voices not heard in Burma elections

June 28, 2010
Singapore refutes Leahy's comment on libel

Malaysian PM faces uphill task

Noynoy takes office

June 26, 2010
Malaysia drops new gambling plan

June 24, 2010
Thailand could hold elections in early 2011

June 18, 2010
Suu Kyi supporters mark her 65th birthday

June 17,2010
Vietnam rejects human trafficking report

Bombing plot in Malaysia revealed

June 16, 2010
China, US angle for Mekong influence

Singapore questions US human trafficking report

Public protest on legalising Malaysian betting

June 12,2010
Thailand seeks US support in reconciliation bid

June 11, 2010
Call for fair Myanmar vote

June 10,2010
Thai PM presides over ceremony to boost public spirit

Noynoy wants inaugural at Quezon Memorial

June 8, 2010
Green technology and sustainable development key issues for East Asia

New ministers counselled to be resolute>

Murugessan remains defiant

June 7, 2010
Enhancing excise tax collection by new technology

Malaysia PM condemns Israeli attack on gaza aid ship

New Election expected sooner than later, Thai PM

June 3-4, 2010
Philippines Elections: Estrada ready to accept defeat

Thai leader goes abroad to salvage country's image

June 2, 2010
Thai PM survives opposition censure

June 1, 2010
Malaysian PM reshuffles cabinet

May 29, 2010
Thai PM says polls in November unlikely

May 27-28, 2010
Philippine Congress close to announcing election victor

Asean chief sees need for drastic political reform in Thailand

May 25-26, 2010
Thailand: Thaksin charged with terrorism, extradition process begins

Philippines: Arroyo ‘not happy’ due to poll fraud allegations

May 22-24, 2010
Indonesia close to appointing new central bank chief

Aquino turns down proposal to legalise ‘jueteng’

Thailand: Growth seen at 4.5% amidst political risks

May 21, 2010
“Order restored in Bangkok, provinces,” says Thai PM

May 18, 2010
Malaysia PM: Opposition has marginal win in Borneo election

May 17, 2010
Malaysia ruling party loses in Borneo ballot

Intensifying violence seen hitting Thai economy hard

May 16, 2010
Philippines: Aquino to be named president one week ahead of schedule

Asean calls for restraint in Thailand as violence intensifies

May 15, 2010
Philippines: Aquino seeks control over house, reaches out to rival

Bangkok violence continues for third day, no end in sight yet

May 14, 2010
Myanmar polls 'a farce', says Philipine minister

Riots in Thai capital turn violent, again

May 13, 2010
Sports betting is now legal in Malaysia

Philippines: Marcoses seen as coming back to political arena

Thai forces to block red shirt rally site

May 12, 2010
Thai protesters vow to ‘fight to death’ as siege looms

NGOs cry foul over UN rights forum election of 14 countries

Myanmar junta shrugs off poll monitors, asks US to be positive

Philippines: Aquino begins forming dream cabinet

May 11, 2010
Philippine Elections: Aquino heads for a landslide

Myanmar warned over secret arms deals with N Korea

May 10, 2010
Violence, computer glitches mar Philippine elections

US official meets red shirt protesters, praises road map

May 9, 2010
Thai PM asks protesters for a clear response to his road map

Indonesian president said to have picked successor to Mulyani

Philippine Elections: New survey shows tight race between two contenders

May 8, 2010
Philippines: Polling officials race to make May 10 vote happen

Pressure rises on Thai protesters to end demonstrations

May 7, 2010
Philippines: Aquino widens the lead as rival slips

No quick end in sight to prolonged Thai protests

As finance minister quits reforms hang in the balance

May 6, 2010
Malaysia government’s nuclear plan draws strong criticism

Finance minister’s abrupt resignation shocks Indonesian market

Philippines to go ahead with elections as scheduled

Myanmar opposition party dissolution due today

Thai red shirts demand details, remain entrenched in capital’s business hub

May 5, 2010
Glitches may delay Philippine polls

Thai protesters await details of government road map

May 4, 2010
Philippines: Faulty machines spawn doubts over smooth elections

Thai protesters mull PM Abhisit's peace overture

May 3, 2010
Thai government almost ready to clear protesters

May 2, 2010
Noynoy Aquino tipped to become Philippine president

Thai PM: Protests isolated in capital commercial hub

May 1, 2010
International Crisis Group: Thai standoff could deteriorate into civil war

April 30, 2010
Thai protesters storm Bangkok hospital; patients evacuated

April 29, 2010
Thailand: Continuing violence worsens economy

Philippines Election Survey: Aquino seen heading for landslide win

Malaysia: Kickbacks alleged in submarine purchase deal

April 28, 2010
Cambodia: PM denies taking bribes from mining giant

Philippines Presidential Elections: Nationalista Party changes strategy

April 27, 2010
Malaysia: Ruling party wins by-election, boosting reform agenda

Singapore amends charter, adding 3 more opposition MPs

Myanmar: Ministers ditches military uniforms to enter polls

Philippines: Aquino warns of electoral fraud, ensuing turmoil

April 26, 2010
Thailand's 'Yellow Shirts' consider moving against Reds

April 25, 2010
By-election seen as test for Malaysian ruling coalition

Thai PM firm on retaking business hub occupied by red shirts

April 24, 2010
Thai protesters accuse government of preparing crackdown

April 23, 2010
Malaysia: Opposition leader faces suspension from parliament

Blasts kill one, injured scores in Bangkok; red-shirt denies responsibility

April 22, 2010
Thailand: Red shirt protesters change tact as clash looms

April 21, 2010
Indonesia’s lower house against cigarette production cut
>

April 20, 2010
Thai protesters cancel planned mass rally

April 19, 2010
Troops patrol Bangkok’s ‘Wall Street’ threatened by protesters

April 12, 2010
Thai protesters keep mounting pressure on government

April 11, 2010
Thailand reels from worst political turmoil in 20 years

April 10, 2010
Indonesia reminds Myanmar junta of need to hold tranparent elections

Thai security forces start reclaiming protest sites

April 9, 2010
Thai Red Shirt leaders face arrest

Asean Summit: Myanmar junta urged to open elections

April 8, 2010
Malaysia PM says party supports overhaul of preference system

Thai unrest, Myanmar elections overshadow Asean summit

April 7, 2010
Red shirts break into Thai parliament

Philippine Elections 2010: Aquino widens poll lead

April 4, 2010
"Red Shirts" asked to leave Bangkok business hub

Vietnam PM explores business opportunities in Myanmar

April 2, 2010
Singapore high court overturns acquittal of opposition members

Thai 'Red Shirts' under pressure to end protests

Resignation, defections hit Philippines' ruling coalition

April 1, 2010
Thailand’s turmoil will have short-term impact, says consumer products giant

March 30, 2010
Myanmar opposition boycotts junta’s elections

March 29, 2010
Thai PM, Red Shirts in second rounxd of talks on Monday

Myanmar opposition likely to vote ‘no’ to junta ballot

March 28, 2010
Thai national TV broadcast ‘peace’ talks between PM and Red Shirt leaders

March 27, 2010
Myanmar Armed Forces Day: Junta chief sets no poll date in his speech

March 26, 2010
Pro-Thaksin Red Shirts plan new rally in Thai capital

March 25, 2010
UN Security Council considers looking into Myanmar's electoral laws

March 23, 2010
Myanmar opposition to sue military junta over election laws

March 22, 2010
Thai govt keeps security law in place as red shirts linger

March 21, 2010
Thai PM offers to talk with protesters, rejects calls for new polls

March 20, 2010
Red shirts launch ‘class’ war, move around Thai capital

March 19, 2010
Red-shirt protests hurt Thai tourism

March 18, 2010
Thai anti-government protesters vow to prolong rally

March 15, 2010
Thailand: Grenade attack raises tension as red-shirt protests

March 14, 2010
Thai finance minister woos Japanese investors as red-shirts issue ultimatum

March 13, 2010
Philippines vote seen as lacking transparency

Thai govt wary of violence as red-shirt protesters enter Bangkok

March 12, 2010
Election law jeopardises US’ new engagement with Myanmar

Thai capital remains tense as red shirts begin to mobilise

March 11, 2010
Myanmar junta officially invalidates 1990 election results

March 10, 2010
Myanmar: Junta’s election law ensures NLD leader is out of race

Survey: Graft problem worsens in Indonesia

March 9, 2010
Thai cabinet approves plan to impose security law

March 8, 2010
Myanmar junta announces election laws, poll date yet to be set

Thailand mulls imposing security law ahead of planned red-shirt rally

March 7, 2010
Thai capital braces for ‘red-shirt’ rally

March 5, 2010
Indonesia: President Yudhoyono calls for calm over bank bailout

March 4, 2010
Thai minister says all of Thaksin's wealth should have been seized

March 1, 2010
Thai bourse undaunted by political uncertainty

February 28, 2010
Thailand: Political uncertainty remains key risk factor to economy

February 27, 2010
Thai court orders seizure of $1.4 billion from ex-premier’s frozen assets

Myanmar court rejects appeal for Suu Kyi’s release

February 26, 2010
Myanmar's Suu Kyi may be released - lawyer

February 23, 2010
Yahoo! Philippines launches election website

February 20, 2010
UN envoy upset by junta’s refusal to let him meet Myanmar democracy icon

February 18, 2010
Thailand: Local investors unruffled by political unrest

February 17, 2010
Philippines Elections: Globe, PLDT backing out as data centers

February 16, 2010
UN envoy makes third visit to Myanmar

February 15, 2010
Survey: Thais fear violence if court seizes assets of ousted premier Thaksin

February 14, 2010
Myanmar: Deputy opposition leader calls for dialogue

February 10, 2010
Malaysia asks Myanmar to free Suu Kyi ahead of polls

February 3, 2010
Myanmar junta may free opposition leader during polls

February 2, 2010
Philippine flag-carrier threatened by union strike

February 1, 2010
Indonesian House calls for presidential plane purchase delay

January 31, 2010
Thailand tightens security for judges following death warnings

January 29, 2010
Indonesian President: Govt meets most targets in first 100 days

January 27, 2010
Thai military to help police deal with expected protests

January 26, 2010
Myanmar opposition downplays news about Suu Kyi’s possible release

January 22, 2010
Indonesia lawmakers ask government to delay FTA implementation

January 21, 2010
Thailand: Coalition partners agree to amend constitution

January 20, 2010
Thailand: Violence feared at pro-Thaksin Bangkok airport rally

January 16, 2010
Thai PM stresses need to resolve issues without royal intervention

January 14, 2010
CSIS praises Clinton’s Asia’s Architecture speech

January 13, 2010
Thai court to rule on Thaksin corruption case in February

Cambodian PM: Thai government won’t survive

January 10, 2010
Philippine Elections: Survey shows narrowing gap between two front runners

January 9, 2010
Myanmar: Junta court sentences ex-officials to death for leaking document


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2014 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com