The merchandise in commodity in September was expanding to the biggest gap so far this year as imports continue with digital jumping as exports reduce, with further pressure on the pressure.
The country's leading economist expects imported goods to be recorded to continue to grow firmly on the back of strong manufacturing and investment flows, while Maybank economist, Kim Eng Research Research. The Government urged the government to prioritize which "Construction, Construction, Construction" infrastructure projects that will be implemented to demolish the current lack of account.
The Philippine Preliminary Philippine Statistics Authority (PSA) data released on Wednesday showed that product exports last September decreased by 2.6 per cent year to year to $ 5.827 billion as the following shipments of goods decreased: coconut oil (i down 36.4 percent); machinery and transport equipment (down 30.4 per cent); installation of breathing and other wire wiring used in vehicles, airships and shipping (down 4.6 per cent); Other products produced (down 4.2 per cent); gold (down 2 percent); as well as electronic equipment and parts (down 0.6 percent).
In the meanwhile, imports climbed 26.1 percent from year to year to $ 9,754 billion in September, making it a straight-six month that the growth did not jump double digits.
The PSA said that the following import goods grew strongly that month: cereals and cereals preparations (up 101.4 percent); iron and steel (up 49.5 percent); Various articles have produced (up to 40.2 percent); transport equipment (up 32.3 per cent); Plastics in primary and current forms (up to 31.9 per cent); electronic products (up 29.5 percent); telecommunications equipment and electrical machines (up 20.5 per cent); mineral fuels, herbs and related materials (up 19.3 per cent); industrial machinery and equipment (up 17.3 per cent); as well as other animals and live animals (up 15.7 per cent).
As a result, the trade balance in goods last September was at a deficit of $ 3.927 billion, more than $ 1,752 billion a year ago and also the largest monthly trade deficit to date in 2018.
In a statement Economic Secretary of Economic Planning, Ernesto M. Pernia, stated that capital goods imports rose by 25.4 per cent per month, bringing the end of September account to over $ 26 billion or almost a third of & # 39; r total imports over the nine month period.
"The growth in the import of capital goods could indicate that companies make long-term investments. Importing raw materials and intermediate products could also show the vitality of the manufacturing sector as it is expected to maintain its positive growth during the months of 2018, "said Pernia, who is the head of the state planning agency of the Economic Development and Development Authority (Neda).
Philippine import payments are seen to remain high until 2019, mainly due to imports of capital goods and raw materials to maintain infrastructure, Construction, Construction, Construction & government and manufacturing regeneration programs, "added the main Neda.
The wider trade deficit was to put pressure on the current account, an element of the balance of payments in the country, making the market carefully and subtracting down to 13 years.
From the end of June, the current lack of account had penetrated to $ 3.1 billion – which equates to 1.9 per cent of gross domestic product, of $ 133 million or only 0.1 per cent of GDP a year ago On the back of trade goods in larger goods also lacking.
In economics last Tuesday, economist Kim Eng, Kim Eng, said the "uncomfortable" markets with Philip's high inflation, a broader budget deficit, as well as a lack of current balloon account.
For Chua, reducing the current account deficit will help stabilize the amount.
Given that the trade deficit hit historical highlights, the current lack of account was seen to expand further to 3.5-4 per cent of GDP in the third quarter, Chua said.
Although Filipinos' money is living and working abroad driving the remaining account for the period 2003 to 2011, Chua said that these dollar inflows were no longer powerful, "stating that the payments are now in account for less than 10 percent of GDP as well as being weighed by difficulties in the Middle East.
Reporters responded to a comfortable level of current account deficit, which Chua replied that it should be around 3.5 per cent of GDP.
In order to reduce the current lack of account and make the pressure stables, Chua said that the government could "include the investment infrastructure speed."
"Many construction, Construction, Construction and many projects, but try to accelerate it, spread it over a longer period so that imports of capital goods will not rise," added Chua.
He asked how he thought that the "Construction, Construction, Construction" program was moving, and Chua replied: "I think it's likely to go very quickly."
"If it had not been restricted, you probably do not have to prioritize, but sometimes with the pressures, you must prioritize and see which ones can be provided with least capital, can one provide more foreign exchange earnings in the future to pay infrastructure and obviously things like airports can bring tourism, so it should be a priority, "he said. / kga
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