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ECONOMY
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PH Economy shrinks by 0.2% in Q1
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Fitch revises PHL 2020 consumer spending growth forecast to 3.4%
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The Philippine economy posted its worst performance in Q1 since the Asian financial crisis in 1998, with the Gross Domestic Product (GDP)...
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Fitch Solutions has downgraded its household spending outlook for the Philippines to 3.4% growth in 2020-from 5.8% earlier-as consumers...
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DBM targets P50B to P70B savings to fund fight vs COVID-19
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OFW remittances to shrink by 7% this year
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The Department of Budget and Management (DBM) is aiming to generate between P50 billion and P70 billion in savings from...
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Nomura Global Markets Research estimates that OFW remittances may shrink by 7% this year. Given the confluence of factors...
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M.I.C.E.
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Virus to shrink global tourism by 60%-80% this year
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PH Tourist arrivals, receipts fall by 50% in January-April due to COVID-19
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The World Tourism Organization (UNWTO) projects international tourism to decline by 58%-78% year-on-year in 2020, leading to a loss of USD910 B to USD1.2...
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International visitor arrivals to the Philippines plummets by 54% in January-April period year-on-year to 1.3 million visitors while tourism revenues fell by 55.79% to...
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MIAA incurs revenue losses in airports since onset of COVID-19
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UFI welcomes move by German authorities to reopen exhibitions and trade shows
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The Manila International Airport Authority (MIAA) reported that it has incurred over a billion pesos in revenue losses in its airports since the onset of COVID-19...
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UFI, the Global Association for the Exhibition Industry, has welcomed a decision by the German government to pave a way for exhibitions and trade shows in the country to reopen...
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TRADE &
INDUSTRY
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Banana output declines to 4-year low in Q1
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DTI now accepting CARES loan applications from MSMEs
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Banana production in the first quarter fell to its lowest level in four years, as Fusarium wilt affected over 30,000 hectares of banana plantations and...
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The Department of Trade and Industry (DTI) is now accepting loan applications from micro and small enterprises (MSMEs) struggling with the impact of COVID-19...
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Govt to distribute farm equipment worth P2B
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DA to launch Kadiwa website to help farmers
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The Philippine Center for Postharvest Development and Mechanization (PhilMech) said it will soon start distributing farm machines worth P2 billion to qualified farmers...
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The Department of Agriculture (DA) will launch its Kadiwa website that will allow consumers to directly buy from farmers, as part of its initiative to use...
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TRENDS
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Quarantined consumers are staying more connected with TV and social media
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How
COVID-19 is changing the world of beauty
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Media consumption is on the rise during this pandemic according to a recent Nielsen research as consumers continue to rely...
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The global beauty industry has not been spared by COVID-19, seeing weak sales in the first quarter along with various store closures this year...
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5 key trends shaping consumer behavior amid COVID-19
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Top Design Trends for 2020
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Google research on trends shaping consumer behavior brought on by COVID-19 highlights 5 key trends that have dominated in recent months: More consumers using...
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Experts across the design industry predict that 2020 will shift into a slightly more subdued gear, a reinterpretation of minimalism, a return to strong geometric forms...
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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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