The Philippine Economy

[Bosnyboy]

Originally Posted by Manila-X

The fact Chinese President Hu Jintao cannot control their actions.

The situation is different right now such that china is facing some serious economic issues which is already leading to public unrest. Chinese people in the rural areas are dissatisfied with how the chinese politburo is running the country. And on top of that china will be having a leadership change sometime this year. In order for chinese leaders to distract focus on local issues, they chose to make some noise overseas. If you will observe, chinese controlled media oftentimes reports that phils, vietnam are bullying china. I figured chinese govt is trying to rally support from its citizens against us and vietnam.

I think and I hope that after the leadership change this year, china will once again quiet down and things will go back to normal.

[nayki]

Originally Posted by wolfram74

nasaan na ang optimism?? nasaan na ang pagiging "safe haven" ng Pilipinas??


Stocks extend losses

STOCKS closed lower on Wednesday.

The Philippine Stock Excahnge index (PSEi) lost 1.22% or 64.57 points to close at 5,220.55, while the broader all-share index dipped by 0.89% or 30.96 points to 3,464.70.

All sectoral indices suffered losses and closed in negative territory, led by holding firms that plunged by 2.33% or 104.46 points to 4,384.37. Property fell sharply by 2.20% or 42.54 points to 1,892.14, while mining and oil declined by 1.53% or 363.31 points to 23,352.04.

Services retreated by 0.46% or 8.27 points to 1,785.46, while financials erased 0.21% or 2.74 points to 1,311.60. Industrial edged lower by 0.17% or 13.26 points to 7,917.45.

Decliners overwhelmed advancers 110 to 49, while 42 stocks were unchanged.

The bellwether index slid by 0.24% or 12.87 points to close at 5,285.12 yesterday, while the broader all-share index fell by 0.27% or 9.54 points to 3,495.66. -- Franz Jonathan G. de la Fuente

Ang saya saya... another great oppurtunity

[Manila-X]

Link to past thread

http://www.skyscrapercity.com/showth...525765&page=46

[wolfram74]

Service exports found low despite strong BPO sector

THE PHILIPPINES may be known for its business process outsourcing (BPO) sector, but other segments of commercial services made the country pale in comparison to its regional peers in the first quarter, data released late last week by the World Trade Organization and the United Nations Conference on Trade and Development showed.

Value of Philippine exports of commercial services -- consisting of BPO, financial services, tourism, transportation, as well as shipping and telecommunications -- grew 8.9% annually in the first three months of the year, but its Southeast Asian peers -- Indonesia, Malaysia, Singapore and Thailand -- exported more in the same period, according to the data released last July 13.

The Philippines exported $4.14 billion worth of commercial services in the first quarter, compared to $3.8 billion in the same period last year. Singapore led Southeast Asia in this regard, exporting $28.16 billion; followed by Thailand with $11.9 billion; Malaysia with $9.1 billion and Indonesia, $5.6 billion.

The Philippines also imported the least: $3 billion last January-March, reflecting 7.9% growth from $2.78 billion the previous year. Once again, Singapore had the biggest value with $27.5 billion; followed by Thailand with $12.7 billion; Malaysia with $10.3 billion and Indonesia, $8 billion.

Still, growth of Philippine commercial service exports and imports outpaced global rates of 3% and 5%, respectively, data showed.

(snipped)

--------------------------------

Philippines - still the Asean laggard

[coffeeworld]

Originally Posted by wolfram74

Service exports found low despite strong BPO sector

THE PHILIPPINES may be known for its business process outsourcing (BPO) sector, but other segments of commercial services made the country pale in comparison to its regional peers in the first quarter, data released late last week by the World Trade Organization and the United Nations Conference on Trade and Development showed.

Value of Philippine exports of commercial services -- consisting of BPO, financial services, tourism, transportation, as well as shipping and telecommunications -- grew 8.9% annually in the first three months of the year, but its Southeast Asian peers -- Indonesia, Malaysia, Singapore and Thailand -- exported more in the same period, according to the data released last July 13.

The Philippines exported $4.14 billion worth of commercial services in the first quarter, compared to $3.8 billion in the same period last year. Singapore led Southeast Asia in this regard, exporting $28.16 billion; followed by Thailand with $11.9 billion; Malaysia with $9.1 billion and Indonesia, $5.6 billion.

The Philippines also imported the least: $3 billion last January-March, reflecting 7.9% growth from $2.78 billion the previous year. Once again, Singapore had the biggest value with $27.5 billion; followed by Thailand with $12.7 billion; Malaysia with $10.3 billion and Indonesia, $8 billion.

Still, growth of Philippine commercial service exports and imports outpaced global rates of 3% and 5%, respectively, data showed.

(snipped)

--------------------------------

Philippines - still the Asean laggard

alangan naman na mas malaki ang sa Pinas kaysa sa Indonesia, malaysia, thailand, and singapore? Buti nanga yan di nakauna ang Vietnam...

[wolfram74]

Ford reverses from Philippines
Asia Times Online
July 19, 2012

MANILA - American automaker Ford's recent announcement that it will shut its vehicle assembly plant in the Philippines by the end of the year has dealt another blow to President Benigno Aquino's efforts to shore up the manufacturing sector.

Ford executives cited the the country's small market as the reason for the closure, while insisting to reporters that the decision was not a reflection of its corporate confidence in Aquino's and the country's economic direction. Filipinos are expected to purchase 180,000 cars this year, up from the 166,000 new cars they bought in 2011.

Those sales are dwarfed elsewhere in the region - Thailand's auto sales last year topped 700,000 while Indonesia's were close to one million, according to industry statistics.

Ford's Philippine plant failed to reach half of its annual projected output of 36,000 vehicles per year, and was only a fraction of the 300,000 units Ford's factories typically churn out in Thailand and China.

The company joins a growing list of multinational corporations that have folded up their manufacturing facilities in the Philippines to relocate to China or other Association of Southeast Asian Nations (ASEAN) countries.

Big multinational manufacturers that have opened and subsequently closed production facilities in the country include Acer, Colgate-Palmolive, Intel, Philips, Procter & Gamble, Toshiba, and several pharmaceutical companies. Some of these have cited the uncompetitive costs of doing business, including high regulatory, energy and transport costs, as cause for their departure.

(continued...)

(snipped)

The Philippines received only $1.2 billion out of a total $116 billion invested in the 10-member Association of Southeast Asian nations last year, lagging behind even underdeveloped Vietnam's $7 billion.

In a global executives survey conducted by global management consultant firm A T Kearney and released earlier this year, the Philippines was not among the top 25 global countries considered attractive by foreign investors - in poor comparison with regional rivals such as Indonesia (placed ninth in the survey), Malaysia (10th), Vietnam (14th) and Thailand (16th). In 1990, manufacturing contributed 25% to the Philippine economy; that figure had dropped to 21% by 2010, according to the research.

(snipped)

[wolfram74]

Philippines' BOP surplus in June shrinks yr/yr
CNBC
July 19, 2012

* June surplus $14 mln vx $222 mln surplus yr ago

* H1 BOP surplus $1.316 bln vs yr-ago $5.016 bln

MANILA, July 19 (Reuters) - The Philippine central bank released balance of payments (BOP) data for June:

KEY DATA:

BOP data June May Apr Mar Feb Jan Dec

(in $ mln) 14 138 -79 -209 588 864 -114

KEY POINTS:

* The central bank trimmed slightly its forecast for balance of payment surplus this year to $2.6 billion from $2.8 billion to take into account the potential impact of the global economic turmoil on investor appetite.

* It also revised down slightly its estimate for gross international reserves to a range of $77.5 billion to $78 billion from $79 billion.

* Manila posted its first net portfolio outflow in four months in June. It also posted its first net foreign direct investment outflow in nine months in April, due to investors' wariness over potential spillovers from the euro zone's debt problems.

* The central bank expects remittances to grow 5 percent this year, slower than last year's 7.2 percent growth. Remittances in the first five months of the year grew 5.3 percent from a year earlier to $8.3 billion.

[wolfram74]

nasaan nga uli yung "optimism"??


Filipinos turn to weekly grocery visits, top-up purchases amid crisis - Nielsen
July 19, 2012

MANILA - The economic slowdown last year has resulted in more Filipino households going to the grocery every week, accompanied by a rise in top-up shopping, Nielsen Philippines said on Thursday.

In its Philippines Shopper Trends Report, Nielsen said close to half or 45 percent of respondents in 2011 went to the grocery every week, up from 30 percent in 2010.

The increase in the number of weekly grocery shoppers accounted for the drop in the number of those who shopped once every two weeks, once a month, and less frequently.

The average visit to the grocery each month rose to 2.61 in 2011 from 2.18 the year before.

This trend was confirmed by the increase in the number of those who went to the grocery to top-up or replenish their household requirements by buying few items.

The average visit to the grocery each month for top-up purchases rose to 2.11 last year form 0.99 in 2010.

Top-up purchases increased for those who visited the grocery every day, every week, every two weeks and every month.

"Following a GDP high in 2010 due to the election, the Philippine economy slowed during 2011," said Stuard Jamieson, managing director of Nielsen Philippines.

"The impact of the global economic crisis coupled with natural disasters both within and outside of the country has caused consumers to be more cautious with their spending, and this is evidenced in the move to more frequent shopping visits but smaller basket sizes," he said.

"Consumers are decreasing their basket size in order to manage their available cash, shopping only as the need arises," he added.

The Philippine economy grew at a slower 3.9 percent in 2011 from the 7.6 percent in 2010.

(snipped)

[wolfram74]

BoP surplus shrinks sharply

The balance of payments surplus dipped 94 percent to $14 million in June from $222 million a year ago, the Bangko Sentral said Thursday.

Data showed the June BoP surplus also shrank from $138- million surplus recorded in May, as the growth in external payments outpaced the increase in foreign inflows.

The BoP position, which mirrors the country’s external strength, refers to the difference between foreign exchange inflows and outflows during a particular period. A surplus means more funds are coming into the country than what is spent overseas.

The Bangko Sentral said the smaller BoP surplus in June put the six-month figure to $1.3 billion, down by 73 percent from $5.0 billion booked in the same period last year.

Remittances and business process outsourcing revenues kept the BoP position in surplus over the past several years, allowing the peso to gain strength against the US dollar and the gross international reserves to reach $77 billion.

These inflows were offset by debt payments made overseas by the government and the private sector as well as the huge trade deficit.

(snipped)

[bartstrife99]

Ganda ng bungad ni Baboon sa 1st thread ah

[wino]

news of the BOP are just normal cycles. What's more important is the medium to longer trend..
Kanya kanya na lang sigurong interpretation yan...

But it's not something to be very alarmed about..

[diz]

Originally Posted by wolfram74

Service exports found low despite strong BPO sector

THE PHILIPPINES may be known for its business process outsourcing (BPO) sector, but other segments of commercial services made the country pale in comparison to its regional peers in the first quarter, data released late last week by the World Trade Organization and the United Nations Conference on Trade and Development showed.

Value of Philippine exports of commercial services -- consisting of BPO, financial services, tourism, transportation, as well as shipping and telecommunications -- grew 8.9% annually in the first three months of the year, but its Southeast Asian peers -- Indonesia, Malaysia, Singapore and Thailand -- exported more in the same period, according to the data released last July 13.

The Philippines exported $4.14 billion worth of commercial services in the first quarter, compared to $3.8 billion in the same period last year. Singapore led Southeast Asia in this regard, exporting $28.16 billion; followed by Thailand with $11.9 billion; Malaysia with $9.1 billion and Indonesia, $5.6 billion.

The Philippines also imported the least: $3 billion last January-March, reflecting 7.9% growth from $2.78 billion the previous year. Once again, Singapore had the biggest value with $27.5 billion; followed by Thailand with $12.7 billion; Malaysia with $10.3 billion and Indonesia, $8 billion.

Still, growth of Philippine commercial service exports and imports outpaced global rates of 3% and 5%, respectively, data showed.

(snipped)

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Philippines - still the Asean laggard

Its certainly embarrassing how a tiny country such as Singapore can export that much more than a large, resource-rich country like the Philippines.

[wino]

I don't know why you have to mention about our resources...
You don't need to be resource rich to export SERVICES.

I will not be proud of the numbers, but certainly not embarrassed.

Although, our growth is something to be proud of. If this is sustained, we'd surpass others in the near future.

[Mercato]

It's because a lotta filipino creative energy is dissipated sideways instead of propelling upward;
ever pandering to the plebeian antics of the jologs and jejemon rat brigades, ...

... wonder no further.

[wino]

haha you are still ranting about that..

just ignore their existence and they'll seize to exist.

[diz]

Originally Posted by wino

I don't know why you have to mention about our resources...
You don't need to be resource rich to export SERVICES.

I will not be proud of the numbers, but certainly not embarrassed.

Although, our growth is something to be proud of. If this is sustained, we'd surpass others in the near future.

So are you arguing that an abundance natural resources isn't a source of wealth?

Also, you misconstrued what I stated. I didn't say I was embarrassed of the numbers, I said it was embarrassing that a tiny city-state like Singapore can outperform a massive neighbor like the Philippines, 7-fold.

Anyway, I agree. The growth is truly a renewed breath of fresh air. I really hope it is sustained. I'm really tired of the sick man image.

[wino]

Originally Posted by diz

So are you arguing that an abundance natural resources isn't a source of wealth?

No. that's weird.. coz i didn't say that..


I just find it odd, that you had to mention it after commenting on the topic of "service export". I did not find the relevance..

[Mercato]

Originally Posted by wino

haha you are still ranting about that..

just ignore their existence and they'll seize to exist.

Good heavens, no not at all. 'Tis not ranting, the numbers do indeed speak for themselves. How can 92million(??) be outperformed 7-fold by 4million? Commercial services pertains to Human Resources, does it not (keyword - services)?

In sharp contrast to Jejemonland, their ah-bengs and lala-zais are smaller in number (by percentage) compared with their entire general population. Therein lies the difference. Alot of creative energy is wasted on the affairs of the plebes.

The key is how to eliminate our ah-bengs and lala-zais (if you dont wanna hear the words jejemon/ jologs )

[wino]

Originally Posted by diz

Also, you misconstrued what I stated. I didn't say I was embarrassed of the numbers, I said it was embarrassing that a tiny city-state like Singapore can outperform a massive neighbor like the Philippines, 7-fold.

actually, Singapore outperforms a lot of countries in so many metrics. specially in GDP per capita.. (even some of the richest countries on earth..)
these other countries, should they be embarrassed?


my point being, being "Embarrassed" is too strong of an emotion.. and way too depressing.
sorry, but "being embarrassed" goes against my mantra. Please pick another word if you don't mind.

[Mercato]

Originally Posted by wino

my point being, being "Embarrassed" is too strong of an emotion.. and way too depressing.

'tis merely in the context of an opinion, that's all. Be that as it may, we are entitled to our own, are we not?