The Philippine gross domestic product (GDP) grew at 4 per cent year on year (YoY) in the third quarter (Q3) this year, according to the Philippine Statistics Authority (PSA).

One of the main contributors to this growth was the growth in wholesale and retail trade.

All three major economic sectors—agriculture, forestry and fishing; industry; and services—posted YoY growths of 2.8 per cent, 0.7 per cent and 5.5 per cent respectively in the quarter.

The Philippine GDP grew at 4 per cent YoY in Q3 2025, official statistics show.
One of the main contributors to this growth was the growth in wholesale and retail trade.
Government final consumption expenditure, exports of goods and services, and such imports posted YoY growths of 5.8 per cent, 7 per cent and 2.6 per cent respectively in the quarter.
Gross national income grew by 5.6 per cent YoY.

On the demand side, household final consumption expenditure grew by 4.1 per cent YoY in the quarter.

Government final consumption expenditure, exports of goods and services, and such imports posted YoY growths of 5.8 per cent, 7 per cent and 2.6 per cent respectively.

Meanwhile, gross capital formation posted a decline of 2.8 per cent YoY.

Gross national income grew by 5.6 per cent YoY in the quarter, a PSA release said.

Net primary income from the rest of the world posted a YoY growth of 16.9 per cent during the quarter.

Fibre2Fashion News Desk (DS)

Jordan’s garment and leather sector exported goods worth $1.636 billion during the first eight months this year—a 3-per cent year-on-year (YoY) increase, according to the Jordan Chamber of Industry.

Garments accounted for 90 per cent of the total exports in the sector during the period, Ihab Qadri, the sector’s representative at the chamber, said.

Qadri attributed the growth to strong external demand, particularly from European markets. The sector’s exports to Italy surged by 121 per cent YoY and to Germany by 97 per cent YoY.

Jordan’s garment and leather sector exported goods worth $1.636 billion between January and August 2025—a 3-per cent YoY rise, the Jordan Chamber of Industry said.
Garments accounted for 90 per cent of the total exports in the sector in the period.
The sector’s exports to Italy rose by 121 per cent YoY and to Germany by 97 per cent YoY.
A similar trend was seen in the Arab and Latin American markets.

A similar trend was witnessed in the Arab and Latin American markets as well. Exports to Saudi Arabia were up by 24 per cent YoY and shipments to Mexico rose by 20 per cent YoY during the period.

Exports to the United States rose by 5 per cent despite new US tariffs, domestic media outlets reported.

The garment and leather sector contributed 21 per cent of Jordan’s total industrial exports, Qadri said. The industry comprises over 1,000 factories, employing nearly 96,000 workers, 70 per cent of whom are women.

Qadri highlighted progress on a planned integrated industrial cluster for the leather and garment industries, supported by the International Finance Corporation (IFC). The project has completed feasibility studies and site selection, with promotional efforts underway to attract investment and local labour.

The cluster aims at strengthening supply chains, reducing production costs, accelerating delivery times and addressing challenges like raw material shortages that account for about 60 per cent of total production costs, he added.

Fibre2Fashion News Desk (DS)

US Trade Representative Jamieson Greer held a video call with top Swiss officials following this week’s diplomatic mission to the White House from captains of Swiss industry, as the country looks to negotiate a reduction in the punishing 39% tariff the US has imposed on Switzerland.

Greer held the virtual meeting with his Swiss counterpart Helene Budliger Artieda and economy Minister Guy Parmelin, according to a Linkedin post by the Swiss government late on Friday.

“Very constructive conversation with Ambassador Jamieson Greer on Trade and Investment,” the Swiss Federal Department of Economic Affairs said in the post. “Great new dynamic in our bilateral relations, thanks to President Trump.”  

It features screenshots and photos of all three in discussion, and is followed by dozens of likes and messages of encouragement from Swiss executives. The virtual gathering follows the in-person meeting in the Oval Office earlier this week between the CEOs of top Swiss companies and President Donald Trump.  

Those present included Alfred Gantner, the founder of Partners Group Holding AG, Rolex SA boss Jean-Frederic Dufour, Daniel Jaeggi of commodity trader Mercuria Energy Group Ltd, Richemont SA Chairman Johann Rupert, Diego Aponte of shipping firm MSC and Marwan Shakarchi of MKS Pamp SA, a gold refiner. 

While Dufour and Rupert are both influential figures in the luxury goods industry, their rival Nick Hayek, the outspoken CEO of Swatch Group AG took a very different tack. 

“The only king I court is the customer,” Hayek told Swiss newspaper Tages-Anzeiger, perhaps in reference to the recent ‘No Kings’ protests against Trump’s presidency. 

Hayek, whose company is the world’s largest watchmaker, said the CEOs’ visit sent a signal of weakness. Instead, he suggested that Switzerland — the seventh-largest investor in the US — should retaliate by threatening to cut investment, or ditch a deal to buy US-made F-35 jets. 

“Are we William Tell,” he quipped in reference to the Swiss hero of folklore, “or are we a vassal?”

Trump’s tariff announcement, delivered on Switzerland’s national holiday, landed Swiss exporters with a rate higher than any other developed nation. The levy, which took effect in August, threatens to drive up costs for chocolatiers including Lindt, watchmakers and precision-tool manufacturers.  

Budliger Artieda has made repeated trips to Washington in recent weeks in the hope of resolving the impasse. While demand for Swiss goods has, in some cases, withstood the impact of the tariffs, Bern has cut its growth forecast for next year, acknowledging the likelihood of economic damage.