Supply Chain Research

Philippine trade growth continued, but slowed in April with export growth of 12% and imports falling for the first time since February 2016. Exports to Japan were the main drag, with a fourth straight month of declines of 17% while U.S.-bound exports also fell. The latter may drop again in May after a 1% slide in seaborne shipments. China should remain a lucrative market, with a 32% jump in April and Chinese data showing a 10% improvement in May. For the Philippines overall minerals and machinery were the main engines of growth. While semiconductor exports continued to grow, the rate slo...