THE Philippines' trade deficit shrank to a six-month low in February this year, according to preliminary Philippine Statistics Authority (PSA) data issued on Friday.
Imports climbed by 20.1 percent to $9.68 billion year on year, while exports increased by 15 percent to $6.15 billion.
ICTSI Subic welcomes Wan Hai’s consolidated service Subic Bay International Terminals received the first call of Wan Hai Line’s consolidated Mindanao — Hong Kong — Taiwan (MHT) service in December 2021. The earlier MHT service — the fastest connection from Mindanao to Hong Kong and Taiwan as per Wan Hai — is being integrated with the Subic Express Service. The port rotation of the MHT service now includes Subic, Batangas, Cebu, Davao, Shekou and Hong Kong. As the first port of call in the Philippines, Subic benefits from the upgraded service’s improved transit time for mostly raw materials and imported products. Wan Hai consolidated the two services to optimize its offering in the intra-Asia trade, utilizing larger-capacity ships to meet increasing demand during the holidays and the run-up to the Chinese New Year. CONTRIBUTED PHOTO
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