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Farm trade deficit narrows to $988.65M in May–PSA PHILIPPINE AGRICULTURAL TRADE | MAY 2026
$2.669B Exports $840.18M ▲ 12.8%
Imports $1.829B ▲ 1.5%
Trade Deficit $988.65M ▼ 6.4%
By Ada Pelonia
WHAT PULLED FDI DOWN? Component
April 2026
YoY Change
Net debt instruments
$44M
▼91.7%
Reinvested earnings
$80M
▼1.23%
Net equity investments*
$127M
▲ from $4M
*Net equity investments excluding reinvested earnings.
FDI SLUMPS TO DECADE LOW OF $250M IN APRIL By Andrea E. San Juan
T
HE amount of foreign capital that flowed into the Philippines slumped to $250 million in April 2026—the lowest in nearly 10 years or since June 2016, due to a “significant” pullback in intercompany borrowings amid lingering global uncertainties.
“Foreign investors have not necessarily lost confidence in the Philippines’ long-term prospects.”— Ruben Carlo O. Asuncion, UBP chief economist, on how investors are becoming more selective in deploying capital rather than pulling out of the Philippine market
than 90 percent year-on-year and accounted for most of the weakness in the headline number. “This suggests that foreign parent companies adopted a more cautious approach in extending funding to their Philippine affiliates amid lingering global uncertainties, including trade tensions, geopolitical risks, and episodes of financial market volatility,” Asuncion explained further. The $250-million net FDI in April is 58.8 percent lower than the $607 million in April 2025, data from the Bangko Sentral ng Pilipinas (BSP) showed.
Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines (UBP), explained that the sharp decline in Foreign
Direct Investment (FDI) net inflows in April “largely reflects a significant pullback in intercompany borrowings,” which fell by more
DMW to appeal dismissal of plunder charge vs Ignacio in ₧1.4-B land buy
Batangas lands ₧3.34-B solar factory
By Samuel P. Medenilla
T
HE Department of Migrant Workers (DMW) said Friday it will appeal the Office of the Ombudsman’s decision to dismiss the plunder and malversation charges against those involved in the P1.4-billion land procurement deal of the Overseas Workers Welfare Administration (OWWA) including its former administrator, Arnaldo “Arnel” A. Ignacio.
IGNACIO
The Ombudsman issued its resolution dated June 19, 2026 on the cases filed by DMW on the said deal, but the agency only received its copy last Tuesday. See “DMW,” A2
See “FDI,” A2
MYKHAILO POLENOK | DREAMSTIME.COM
T
HE country’s agricultural trade deficit narrowed to $988.65 million in May, according to the Philippine Statistics Authority (PSA). Data from the PSA showed that the country’s farm trade deficit fell by 6.4 percent to $988.65 million in May, from $1.06 billion in the same period last year. Exports rose by 12.8 percent year-on-year to $840.18 million in the reference month, from $745.08 million. Import receipts still held the lion’s share of the farm trade at $1.828.83 billion, inching up by 1.5 percent from $1.801.79 billion in the previous year. Overall, the country’s total agricultural trade grew by 4.8 percent to $2.669 billion, down from the 11.2 percent increase in April 2026, but a slight increase from the 3.7 percent growth in May 2025. Edible fruit and nuts; peels of citrus fruit or melons were the top farm export in May, earning $299.68 million or 35.7 percent of total farm export revenues. This was followed by animal, vegetable, or microbial fats and oils and their cleav-
Top ASEAN supplier—Vietnam Top ASEAN buyer—Malaysia Top EU buyer —Netherlands
BM Graphics: Ed Davad
TOTAL TRADE ▲ 4.8%
age products; preparations of vegetables, fruit, nuts, or other parts of plants; and tobacco and manufactured tobacco substitutes. The top 10 commodity groups contributed $815.03 million in the reference month, posting a year-on-year increase of 12.3 percent. Malaysia remained the top buyer of farm goods from the Philippines in the Asean region in May, as it bought $27.9 million worth of exports, or 36.5 percent of total farm shipments to Asean member countries. Among European Union (EU) nations, the Netherlands also maintained its spot as the country’s major trading partner, accounting for $66.25 million or 40 percent of shipments to the bloc. Meanwhile, cereals were still the country’s leading farm import in May at $454.21 million or 24.8 percent of total agricultural inbound shipments. The top 10 commodity groups reached a total $1.56 billion, up by 3.7 percent from the same month of 2025, based on PSA data. Among its Asean partners, the Philippines continued to source the most farm products from Vietnam at $256.6 million or 35.8 percent of the total shipments from the region.
GSE Law marks two decades of trust, service, and enduring partnerships
By Bless Aubrey Ogerio
T
HE Philippine Economic Zone Authority (Peza) has formalized the registration of a P3-billion Australian-backed solar manufacturing project in Batangas, adding to the agency’s growing portfolio of renewable energy investments. Peza and Philippine Aurion Solar Technologies Inc. signed a Registration Agreement covering the project, which manufactures solar wafers, solar cells, photovoltaic (PV) modules, inverters, solar mounting systems and battery energy storage systems (BESS). The company invested more than P3.34 billion in the manufacturing facility, which is located at the First Philippine Industrial Park. Established in September last year and registered as a Peza export enterprise, the project has already completed and begun operating its manufacturing facility inside the economic zone. According to Peza, the company has recruited and trained more than 400 local professionals and technical workers for its solar manufacturing operations. Over the longer term, the project is expected to generate about 508 direct jobs while supporting technology transfer, workforce upskilling and the
GSE LAW founders Raul Gerodias, Dimples Suchianco, and Toby Estrella
W
PEZA Director General Tereso O. Panga (right) and Philippine Aurion Solar Technologies Inc. President Samuel Yang sign the Registration Agreement for the company’s Australian-backed solar manufacturing project during a ceremony on July 7, 2026. PEZA
development of the country’s renewable energy manufacturing ecosystem. Peza Director General Tereso Panga said the project reflects continued investment in advanced manufacturing for the renewable energy sector. “We welcome more companies bringing advanced technologies and manufacturing capabilities to the Philippines, especially
as solar energy continues to grow into one of Peza’s largest and fastest-growing investment sectors,” Panga said. He added that Peza would continue maintaining a predictable and rules-based n business o ati environment as renewable enfl n I ergy investments expand across its economic zones, supporting the long-term growth of the solar manufacturing industry.
HEN Gerodias Suchianco Estrella (GSE) Law was established in January 2006 by Raul Gerodias, Dimples Suchianco, and Toby Estrella, its founders shared a simple conviction: that the practice of law is, above all, built on trust. Twenty years later, that principle continues to define the Firm. Over the past two decades, GSE Law has grown alongside an evolving legal and business landscape. It has navigated economic shifts, sweeping regulatory changes, technological transformation, and a global pandemic while remaining anchored on the values that have guided it from the beginning—integrity, commitment, and excellence. Those principles have shaped not only the Firm’s legal practice but also the relationships it has cultivated with clients, business partners, and the wider community. More than legal expertise, GSE Law has built its reputation on credibility, reliability, and a steadfast commitment to serving others.
Celebrating Two Decades
ON 25 June 2026, GSE Law celebrated its 20th anniversary with an evening reception at Edsa Shangri-La, Manila, bringing together clients, colleagues, partners, and friends to commemorate two decades of shared milestones and enduring partnerships. The celebration looked back on the Firm’s journey from a modest practice established by three founding partners into one of the country’s respected full-service law firms. More importantly, it celebrated the people and relationships that have shaped its story. Reflecting on the Firm’s vision, founding partner Raul Gerodias shared, “Our goal has never been to be the biggest law firm. Our goal is to be the most respected, the most trustworthy, and the most helpful. At the same time, we aspire to be the friendliest and safest place to work— a place where people can grow, thrive, and do their best work.” See “GSE,” A2
PESO EXCHANGE RATES n US 61.5830 n JAPAN 0.3793 n UK 82.5766 n HK 7.8594 n CHINA 9.0683 n SINGAPORE 47.6649 n AUSTRALIA 42.7201 n EU 70.4017 n KOREA 0.0409 n SAUDI ARABIA 16.4042 Source: BSP (July 10, 2026)