Latest economic data suggest that the Philippines remains one of the top performing economies in the Southeast Asian region, according to National Economic and Development Authority (NEDA) Director-General Ernesto Pernia. “National and international observers have remarked that the Philippine economy has entered the golden age,” said Pernia while speaking at the Philippine Economic Briefing in Tokyo. Japan was the Philippines’ second top trading partner in the first quarter of 2018, with total trade amounting to USD4.9 billion. To help sustain the economic growth momentum amid possible headwinds, the Philippine government is currently looking into previously untapped products with export potential, according to Pernia. It is also on the lookout for ways to counter possible downturns, such as exploring how to regain lost market share in agricultural products to countries such as Japan and South Korea, the NEDA chief added.
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