BPO export earnings up by 12.8% in 2016

BPO export earnings up

Export earnings in the business process outsourcing (BPO) sector grew by 12.8% last year, this according to a report by the central bank of the Philippines, Banko Sentral ng Pilipinas. The 12.8% increase in 2016 amounted to USD20.2bn as compared to the USD17.9bn in 2015. The central bank further reported that the country’s primary income account also increased 39.7% to USD2.6bn, whereas the net receipts in the secondary income rose 7.3% to USD25bn. However, economists warned about potential downside risks to BPO services exports as some US investments in the sector are currently on hold due to the anti-outsourcing policies of the Trump administration.