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‘WITH TRADE GAP, WEAK PESO HURTS EXPORTERS’ www.businessmirror.com.ph
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Tuesday, July 8, 2025 Vol. 20 No. 268
P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK
By Andrea E. San Juan @andreasanjuan
A
WEAKER peso due to volatility would hurt local exporters as the country’s import bill still outweighs its export receipts, according to the top official of the Department of Trade and Industry’s (DTI) export marketing arm. PESO PROBLEMS: WHEN EXPORT GAINS MEET IMPORT PAINS
50
USD Billion
40
Deficit $19.68B
Imports: $53.87B (+4.4% YoY)
30 20 10 0 Exports
Imports
YoY Growth in Exports and Imports (Jan–May)
Exports: $34.20B (+10.8% YoY)
10 8 Growth %
Trade Balance (Jan–May 2025)
Trade Deficit: $19.68B
6 4 2 0
Exports
Imports
“Of course, a weaker peso boosts export competitiveness in a sense that exporters earn more in peso terms for
Exports rose 10.8%, while imports increased by 4.4% compared to the same period in 2024.
❝It kind of offsets the gains from a weaker peso from the point of view of import cost.❞ — Bianca Pearl Sykimte, DTI-EMB ❝If the product has high imported content, the benefit is reduced.❞ — George Manzano, former Tariff Commissioner ❝A weakened peso leads to inflation and lower economic growth.❞ — Leonardo Lanzona, ADMU economist
BM Graphics: Ed Davad
Breakdown of Imports
every dollar revenue they get,” DTI-Export Marketing Bureau (DTI-EMB) Director Bianca See “Trade,” A2
PINOYS PAID MORE FOR SAME VOLUME OF IMPORTED BUTTER By Ada Pelonia
T
@adapelonia
HE Philippines paid more for nearly the same volume of butter it imported in the first quarter, based on data from the Philippine Statistics Authority (PSA). The PSA figures showed the Philippines imported 1,670 metric tons (MT) of butter in the reference period, worth $10.96 million. The latest figure was around 37 percent higher than the $7.99 million recorded in the same period last year for 1,653 MT.
This means that the Philippines paid about $6.56 per kilo of butter in the first quarter of 2025, nearly $2 more than the $4.83 per kilo purchased in the same period of the previous year. New Zealand was the top supplier of the Philippines’s butter shipments in the reference period at $7.43 million, while China trailed at $1.38 million, based on PSA data. The Food and Agriculture Organization of the United Nations (FAO) said its Dairy Price Index inched up by 0.5 percent See “Pinoys,” A2
DSWD COOKS UP RELIEF Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian leads the launch of the P20-per-kilo rice initiative under the agency’s Walang Gutom Program (WGP) at the Morsacc Basketball Court in Barangay 69, Moriones Street, Tondo, Manila, on Monday, July 7, 2025. Dubbed “Benteng Bigas, Meron na sa WGP,” the activity marks the rollout of subsidized rice distribution to eligible beneficiaries in one of Manila’s most food-insecure communities, as part of the government’s broader effort to combat hunger and ensure affordable access to basic staples. ROY DOMINGO
Tax, user curbs on online gaming possible By Samuel P. Medenilla
A
@sam_medenilla
MID mounting calls from lawmakers and a prelate to limit access to online gambling, President Ferdinand Marcos is open to studying the feasibility of imposing tax and user restrictions for such activities, according to Malacañang. In a press briefing on Monday, Palace Press Office Claire Castro said the chief executive is now looking into the Department of Finance (DOF) pronouncement to determine if it will benefit Filipinos and the economy. “The President is aware of what can happen to gambling addicts and he will not object as long as
PALACE Press Office Claire Castro PNA PHOTO BY ROBERT ALFILER
there is sufficient study about the tax that will be imposed,” Castro said in Filipino. Several lawmakers have proposed bills to either impose tax or
totally ban online gambling to stop its growing social costs. Anakbayan party-list filed House Bill (HB) No. 1351 or Kontra E-Sugal Bill, which will slap a 10-percent tax on online gambling operators to fund gambling treatment and recovery programs. Five other congressmen also filed HB 721or the Anti-Online Gambling Promotions in E-Wallets Act. In the Senate, senators Pia and Alan Cayetano have filed a bill to ban online gambling. Caloocan Bishop Pablo Virgilio Cardinal David also called on the government to impose stricter regulations for online gambling. Last week, DOF said it will consider imposing an online gambling tax rather than an outright ban for
online gambling. DOF backed the ban on Philippine Offshore Gaming Operators (Pogo) or online gambling, which caters to foreigners, citing the social harm it caused outweighs its economic and social benefits. Aside from the new tax, Castro said the President also wants an intensified campaign against illegitimate or improper or unregistered online gaming sites to further limit the number of people exposed to the said activity. “Again, as we said, we want to limit this type of gambling and reduce the number of gambling addicts, and this is for the people, and all possible suggestions and laws to curb this, our President will not oppose,” Castro said.
PESO EXCHANGE RATES n US 56.4840 n JAPAN 0.3912 n UK 77.1854 n HK 7.1961 n CHINA 7.8830 n SINGAPORE 44.3185 n AUSTRALIA 37.0309 n EU 66.5777 n KOREA 0.0415 n SAUDI ARABIA 15.0624 Source: BSP (July 7, 2025)