Philippines Macroeconomist/Strategist

Jun Trinidad

Macroeconomics

Executive Summary: 
<ul>
<li>Hefty trade gap in May did not severely undermine the BoP</li>
<li>Competitive PHP boost unable to offset lackluster export demand</li>
<li>Domestic manufacturing stayed robust in 2Q18 despite fading exports of manufactures </li>
</ul>
<hr>
Swelling trade shortfall although BoP much less.  The balance of trade deficit (Customs data) worsened to US$3.7bn in May (US$15.8bn deficit in January-May) as exports fell 3.8%YoY while imports grew 11.4%YoY. Despite this recent monthly high for the trade shortfall…

Executive Summary: 

Hefty trade gap in May did not severely undermine the BoP
Competitive PHP boost unable to offset lackluster export demand
Domestic manufacturing stayed robust in 2Q18 despite fading exports of manufactures 


Swelling trade shortfall although BoP much less.  The balance of trade deficit (Customs data) worsened to US$3.7bn in May (US$15.8bn deficit in January-May) as exports fell 3.8%YoY while imports grew 11.4%YoY. Despite this recent monthly high for the trade shortfall…

Philippines Stock Exchange PSEi Index (PCOMP INDEX)

Swelling Philippine Trade Gap in May Despite A Competitive PHP