2016 Q1 exports down by 8.4%

During the first three months of the year, Philippine exports reached US$13.11 billion, an 8.4-percent slide from the $14.3 billion reported during the same period last year. This is primarily due to the slowdown of economies of major export-destination countries like Germany, Japan, China and Hong Kong SAR and US.

On another note, PHL companies continue to invest abroad by acquiring companies from other countries.  Among these corporate giants are Monde Nissin Corp. which bought UK company Quorn for P38.93 billion; MNTC which operates in various ports worldwide; Universal Robina Corp. which bought Griffin Food in New Zealand; Emperador Inc. which purchased Fundador Pedro Domecq, Spain’s oldest and largest brandy maker; and Jollibee which operates restaurants in China, the Middle East and the US.

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