Fashion
Economic growth in Philippines expected to slow to 5.1% in 2025: IMF
The country’s growth rose to 5.7 per cent in 2024 on strong public consumption and investment but moderated to 5.4 per cent in the first half of 2025 amid strong imports and an election-related public spending ban.
Potential growth is estimated to be around 6 per cent over the medium term, the IMF said after concluding its 2025 Article IV consultation with the country recently.
Growth in the Philippines is expected to slow to 5.1 per cent this year as increasing tariffs weigh on exports and investment, before picking up moderately to 5.6 per cent in 2026, according to the IMF.
Potential growth is estimated to be around 6 per cent over the medium term.
Inflation is projected to average 1.7 per cent in 2025, and then pick up to 2.8 per cent in 2026 as negative base effects recede.
Inflation declined amid a restrictive monetary policy stance and concerted efforts by the government to reduce food prices. Inflation is projected to average 1.7 per cent in 2025, and then pick up to 2.8 per cent in 2026 as negative base effects recede, the IMF said.
Headline and core inflation averaged 1.7 and 2.4 per cent year on year (YoY) respectively in 2025 as of October.
Gradual fiscal consolidation over the medium term will help reinforce fiscal space. Accelerated implementation of structural and governance reforms would support investor confidence and raise fiscal multipliers and potential growth, the IMF noted.
The risks to the near-term growth outlook are tilted to the downside. The main external risks stem from prolonged global trade policy uncertainty, geopolitical tensions and disruptive financial market corrections. On the domestic front, more frequent and intense climate shocks would cause notable macroeconomic losses.
Fibre2Fashion News Desk (DS)
The goal, however, is challenging due to external pressures, including stricter technical barriers, reciprocal tariffs on goods exported to the United States, and the European Union’s Carbon Border Adjustment Mechanism (CBAM) for selected industrial products.
Therefore, major export industries in the country have started restructuring and adjusting strategies early in the year to seize market opportunities.
Following a record export value of $475 billion achieved in 2025—up by 17 per cent YoY—Vietnam aims at adding nearly $38 billion to the figure in 2026.
Major export industries in the country have begun restructuring and adjusting strategies early in the year to seize market opportunities.
The textile and garment sector, which earned $46 billion in 2025, has set a target of $50 billion in exports in 2026.
The textile and garment sector, which earned $46 billion in 2025, has set a target of $50 billion in exports in 2026.
The sector is focusing on strengthening domestic supply chains, raising localisation rates and making more effective use of free trade agreements (FTAs), Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), was cited as saying by a domestic media outlet.
Exports may grow by 15-16 per cent this year, driven by market expansion and a shift towards higher-value products, according to MB Securities’ Vietnam Outlook 2026 report.
Fibre2Fashion (DS)
The data showed that the decline was driven mainly by weaker domestic exports, with goods produced in the Netherlands down 8 per cent YoY. In contrast, re-exports to the US rose 3.9 per cent during the period. Exports to the US have fallen every month on a YoY basis since July, CBS said in a press release.
Trade flows were influenced by uncertainty around US import tariffs. In the first half of 2025, trade between the two countries continued to grow, possibly as companies advanced shipments ahead of announced tariff measures.
Goods exports from the Netherlands to the United States fell 4.7 per cent YoY to €27.5 billion (~$33 billion) in the first ten months of 2025, driven by an 8 per cent drop in domestic exports, according to CBS.
Re-exports rose 3.9 per cent, while tariff uncertainty weighed on trade.
Imports from the US increased 1.9 per cent to €48.1 billion (~$57.7 billion).
Meanwhile, imports from the United States rose 1.9 per cent YoY to €48.1 billion (~$57.7 billion) in the first ten months of 2025.
Fibre2Fashion News Desk (SG)
The Philippines’ economic growth for the third quarter (Q3) of 2025 has been revised slightly lower, with gross domestic product (GDP) expanding 3.9 per cent year on year (YoY), down from the preliminary estimate of 4 per cent.
Gross national income growth for the quarter was also revised to 5.4 per cent from 5.6 per cent, while net primary income from the rest of the world was adjusted to 16.2 per cent from 16.9 per cent.
The Philippine Statistics Authority has revised down the country’s third-quarter 2025 GDP growth to 3.9 per cent from an earlier estimate of 4 per cent.
Gross national income growth was also lowered to 5.4 per cent, while net primary income from abroad eased to 16.2 per cent.
The PSA said the adjustments reflect its standard, internationally aligned revision policy.
The Philippine Statistics Authority said the revisions were made in line with its approved revision policy, which follows international standards for national accounts updates.
Fibre2Fashion News Desk (HU)
Vietnam textile-garment sector targets $50 mn in exports in 2026
King Charles receives delightful message as crucial mission gets update
LeBron James earns record-extending 22nd NBA All-Star Game nod
-
Sports6 days agoPSL 11: Local players’ category renewals unveiled ahead of auction
-
Entertainment5 days agoClaire Danes reveals how she reacted to pregnancy at 44
-
Business6 days agoBanking services disrupted as bank employees go on nationwide strike demanding five-day work week
-
Tech1 week agoICE Asks Companies About ‘Ad Tech and Big Data’ Tools It Could Use in Investigations
-
Fashion1 week agoSpain’s apparel imports up 7.10% in Jan-Oct as sourcing realigns
-
Sports5 days agoCollege football’s top 100 games of the 2025 season
-
Business1 week agoHonda announced great news to car enthusiasts – SUCH TV
-
Politics1 week agoFresh protests after man shot dead in Minneapolis operation