Trade surplus narrowed in 2018 on higher machinery imports
Thursday, March 07, 2019
The merchandise trade balance is the difference between the value of imported goods and exported goods.
The country has enjoyed annual surpluses dating back to 2014. Prior to that, an intensive power and water development drive swelled imports, leading to a series of trade deficits, including the peak in 2012 at P16.3 billion.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...