Center for International Trade Expositions and Missions (CITEM)


World's workers lost $3.5T in income in Jan-Sep

Budget deficit hits P740.7B in Jan-Aug

Over $3.5 T worth of labour income was lost in the first 9 months of the year due to COVID-19 economic shutdowns according to the International Labour Organization (ILO).

The national government's budget deficit ballooned to P740.7B, up by 515% from last year's level on COVID-19 expenditures.

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PH consumer confidence crashes to worst level in 3Q2020

Business confidence index decline to 5.3% in 3Q2020

The country's consumer outlook turned pessimistic for Q3 2020 as the overall confidence index (CI) fell to a record low of -54.5% attributed generally to the COVID-19 pandemic.

BSP nationwide poll showed the business confidence index sagged to -5.3% in 3Q2020 amid weak sentiment across sectors.

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Global tourism industry lost $460B due to pandemic

Tourism set to take off in 2021

The WTO estimated a loss of USD640 M for the global tourism sector in 1H2020 due to the COVID-19 pandemic.

World tourism is projected to expand by 1.5% next year from pre-pandemic level and achieve normalcy by 2024.

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Boracay now open for tourists starting 1 October 2020

AirAsia, local hotels offer deals on Snap

Boracay Island will now be accepting visitors from all over the country starting 1 October per the DOT.

In partnership with local hotels, AirAsia launched a flight+hotel combo platform named SNAP which aims at offering convenient and affordable fly and stay packages to tourists.

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Value of domestic trade down by 2.9% in 2019

Coconut Oil, Garments could be hit by GSP+ Withdrawal

Despite an increase in the amount of goods traded domestically, the total value of these commodities contracted by 2.9% to P834.72B in 2019.

Loss of GSP+ tariff advantages offered by the European Union (EU) could harm crude coconut oil and garment exports.

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PH banana exports decline by 10% due to market share loss

Digital agri sector to benefit local farmers, consumers

The DA has expressed concerns over the 10% decline in PH banana exports due to the possibility that the Philippines is losing its share in traditional banana markets abroad.

The DA is pushing for the digitalization of the country's agriculture sector under the new normal to reduce poverty and attain food security.

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PH design brands join Maison et Object Digital Trade Fair

APAC SMEs more adaptive to remote work set-up

Philippine brands recently participated in the Parisian digital show 'Maison et Objet and More' with the quarantine inspired theme 'Bubble living'.

A study by SAP SE found that SMEs in the Asia-Pacific are more adaptive of a remote working environment amid COVID-19 compared to their European and American counterparts.

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Jewels keep their luster amid pandemic

PH shopping malls may turn into logistics hubs amid prolonged lockdowns

Jewelry, particularly gold, continues to sell even during the COVID-19 pandemic as world gold prices have gone up in August.

PH malls have adapted to COVID-19 by leasing out space in its malls for alternative uses as empty mall spaces abound in the face of a prolonged quarantine lockdown.

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