Economists see slower export growth in H2

MANILA -- The truck ban imposed in the city of Manila and a slowing world economy will likely dampen the country’s exports growth in the second half of 2014, thus, diminishing the export sector’s contribution to economic expansion for the year, local economists said.

This is despite the 6.9-percent export growth in May 2014 based on preliminary data released by the Philippine Statistics Authority (PSA) on Thursday. The country’s total revenues from exports rose to $5.5 billion during the period from $5.1 billion last year.

“I am not optimistic that we can maintain double-digit growth in H2 [second half)]primarily because of the city of Manila’s truck ban, which is wrecking havoc on both importers and exporters and even simply interisland logistics,” University of Asia and the Pacific’s (UA&P) Victor Abola said.

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