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ECONOMY
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IMF downgrades 2020 growth rate of ASEAN-5
to -1.3% amid
COVID-19
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PH GDP growth to slide to 2% in 2020 but rebound seen in 2021
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The International Monetary Fund (IMF) downgraded growth rate in 2020 of the Asean-5 countries-Indonesia, Malaysia, Philippines...
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The Asian Development Bank (ADB) projects the Philippines' Gross Domestic Product (GDP) to grow at 2.0% in 2020 following an Enhanced Community...
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PH government rolls out P27.1 B package vs COVID-19 pandemic
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PH tax collections to dip by P91-B due to COVID-19
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The Philippine government's economic team announced a P27.1-billion package of priority actions to help frontliners...
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The covid19 outbreak would likely lead to a P91 billion reduction in tax collections by the government due to slower...
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M.I.C.E.
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Global air transport revenues to be reduced by 5% from COVID-19 impacts on tourism worldwide
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Tourist arrivals in the Philippines to drop by 1.42M amid COVID-19 situation
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The International Air Transport Association (IATA) estimates that global air transport revenues will be reduced by 5% this year, which means USD29.3B ...
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The Philippines stands to lose billions of pesos in the tourism industry if the number of tourist arrivals in the country continues to dwindle amid the covid19 situation...
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AIPC & UFI release Guide to COVID-19 for Conventions and Exhibitions
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Options for the Business Events Industry to address COVID-19 disruption
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The International Association of Convention Centres (AIPC) and the UFI (Global Association of the Exhibition Industry) have released a guide to good practices...
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Since the onset of the epidemic, hundreds of events have been cancelled all over the world and waking up to the news of cancellations or postponements has become the new normal...
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TRADE &
INDUSTRY
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PH exports grow in January-February
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MSMEs exporters struggle from economic losses from COVID-19 impacts
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Amidst a backdrop of the surging COVID-19 pandemic, Philippine merchandise exports grew by 2.8% in February 2020 to USD5.4B from USD5.3B year-on-year...
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In a survey conducted by the Philippine Exporters Confederation Inc. (Philexport), the biggest economic problems facing MSME exporters are the slowdown in...
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PH MSME workers to receive COVID-19 aid
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Exporters urged to register for EU-GSP+ privileges before June 30, 2020 deadline
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Employees of MSMEs will receive assistance from the government's COVID-19 cash aid program. The DOF announced that the government will allocate around P35 billion...
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The DTI-Export Marketing Bureau (DTI-EMB) urged all Philippine exporters to the European Union to register to the EU Registered Exporter System (EU REX)...
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TRENDS
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Filipinos shift to e-payments, online banking amid lockdown
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Global shifts in consumer behavior amid
COVID-19
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Banks and payment firms have seen a surge in online transactions amid the enhanced community quarantine (ECQ) in the...
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Consumers across the globe are exhibiting varying degrees of optimism, as their governments continue to stave off the ill effects of COVID-19...
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Rewiring the Fashion System: State of Fashion during COVID
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Top 10 Consumer Trends for 2020
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The coronavirus presents the fashion industry with a chance to reset and reshape the industry's value chain completely. McKinsey expects that themes of...
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Euromonitor identifies several key factors that will influence global consumer trends for 2020. From an increased presence of AI in consumption to an increased affinity...
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Blink to the Future
Take a deeper understanding of the future of global
economy. If you are interested in reading more of
our featured insights, visit our website at: www.citem.gov.ph
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CENTER FOR INTERNATIONAL TRADE
EXPOSITIONS AND MISSIONs
CORPORATE PLANNING DIVISION
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