Export Growth Moderates In April, To Rebound In 2017

Economic Research	14 June 2017
Philippines
Economic Update
Export Growth Moderates In April, To Rebound In 2017 Merchandise export growth moderated in April to 12.1% YoY from +21.1% YoY in March. This was mainly a result of slower increases in shipments of manufactured and agro-based products. Moving forward, we forecast exports of goods & services to return to a growth of 6.2% in 2017 (2016: -4.4%). This is on account of a pick-up in global demand for electrical & electronic (E&E) goods, gradual improvement in world merchandise trade volumes and recovery in agricultural exports. Economist:  Rizki Fajar  | +6221 2970 7065