philippines economy – Sanggraloka Wisata Nusantara

Philippines Sees Trade Deficit Narrow Sharply to $3.15 Billion in February

oleh admin | Mar 28, 2025 | economics, exports, finance news, international trade, philippines economy

MANILA — The trade gap in the Philippines narrowed to its smallest size in almost four years during February, driven by continued growth in exports albeit at a reduced rate along with a decline in imports, according to initial government statistics released on Friday.

According to the Philippine Statistics Authority, the trade shortfall decreased to $3.15 billion in February, marking the lowest level since June 2021. The deficit for January underwent a slight revision upwards to $5.12 billion from an initially stated figure of $5.08 billion.

In February, exports climbed by 3.9%, amounting to $6.2 billion, which was a deceleration from January’s increase of 6.3%. On the other hand, imports dropped by 1.8% year-over-year to reach $9.4 billion, contrasting with the prior month’s expansion of 11.2%.

The economy grew at an annual rate of 5.2% during the last quarter of 2024, maintaining the same speed as in the prior period yet falling short of what analysts had anticipated. The administration plans to publish the first-quarter growth data on May 8.

— Reported by Karen Lema; Edited by John Mair

Insider’s Guide: Exploring Manila, the Cultural Melting Pot of the Philippines

oleh admin | Mar 18, 2025 | culture, philippines economy, tourist attractions, Travel, travel destinations

Residents offer insights into must-see sights, activities, and purchases, ranging from famous monuments to lesser-known treasures, as well as experiencing local artisan skills.

If the Philippines is a rich fabric woven from various strands—indigenous, Malay, Spanish, American, and Chinese—then Manila serves as the ideal showcase for this intricate interweaving. Established in 1571 under Spanish rule,
the Philippine capital
Has witnessed numerous conflicts, two People Power revolutions, and more recently, the emergence of a national “Asian tiger cub” economy, symbolized by the flashy commercial zones of Bonifacio Global City and Makati.

Visiting can be quite overwhelming, but we’ve consulted three local experts who share insights on making the best use of your visit. Farah Abu designs distinctive jewelry inspired by the Philippines under her own label; Dylan Gozum oversees an event venue that specializes in hosting weddings and social gatherings in Rizal province; and Rey Ballesca has been guiding tours for over ten years.

The ancient walled city of
Intramuros
served as Manila’s administrative center under Spanish rule from 1565 to 1898, and continues to be the initial destination for tourists attracted by its elegant colonial buildings and historic churches.

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Abu states, “We bring all our visitors there. You can gain insights into the life of our national hero, Jose Rizal, since this is where he spent his final moments.”

However, it’s worthwhile to remain within Intramuros past the usual tricycle tours to immerse oneself in the ambiance and heritage.

Where to stay

Abu suggests Barbara’s, a Spanish-Filipino eatery that also offers lodging options: “The decor draws inspiration from
the Spanish era
And they also organize an event known as Kultura Filipina, featuring traditional performances like the
singkil
,
tinikling
and
pandanggo sa ilaw.
”

To fully indulge in luxurious accommodations, she recommends reserving a room at the five-star Peninsula Manila, a hotel that opened in 1976 and has welcomed notable guests such as Bill Gates and Queen Sofia of Spain. Despite being located 9 kilometers away from Intramuros, “this remains one of the finest hotels around,” according to Abu.

If you find that option too expensive, Ballesca recommends the Bayleaf Intramuros, a charming boutique hotel with views of the historic city walls.

He mentions that it’s a top-notch mid-range hotel featuring cozy accommodations, picturesque vistas, and close access to iconic sites such as Fort Santiago and Rizal Park. The establishment seamlessly blends contemporary amenities with traditional allure, making it an ideal option for visitors looking for both ease of accessibility and historical richness.

Faith and history

Abu guides people looking for architectural styles different from ancient Intramuros to the National Museum of Natural History. This museum, among the latest additions near Rizal Park, is housed in the refurbished U.S.-era (1898-1946) building previously known as the Agriculture and Commerce Building.

She remarks, ‘It’s truly an impressive sight.’ She continues, ‘The location boasts a huge staircase along with a central Tree of Life elevator. This place hosts many fashion exhibitions.’

Should your interest lie in capturing moments through photography, Ballesca suggests exploring the historically rich Quiapo area located north of Rizal Park. This locale is renowned for its bustling markets and delectable street cuisine. Nonetheless, the primary attraction remains the stunningly ornate Quiapo Church, home to the revered Black Nazarene—a detailed wooden statue representing Jesus Christ. Imported into the country by a Mexican cleric back in 1606, this intricate mesquite-carved figure continues to be venerated today.

“The optimal angles for photographing the church are wide shots or lower perspectives,” explains Ballesca. “Additionally, you can capture images of street vendors and nighttime traffic using long exposures.” He emphasizes that one essential sight is the yearly event.
Celebration of the Black Nazarene
On January 9, when throngs of devoted followers carry the statue through the streets.

Right next to Quiapo toward the west is
Binondo
, home to the planet’s oldest Chinatown, founded by the Spanish in 1594 as a community for Chinese Catholics.

Old Manila infused with a Chinese touch—both in terms of its heritage and tastes,” explains Ballesca. “The Binondo Church, dating back to the Spanish era, remains prominent, situated close to gold boutiques and herbal remedy outlets.

However, the true attraction of Binondo, he explains, lies in the cuisine.

Hungry for more

The impact of Chinese settlers is difficult to exaggerate.
Filipino cuisine
, leading to creations like
lumpia (spring rolls)
, mami (beef noodle soup), siopao (a sweeter variant of bao), and pancit (stir-fried noodles). Particularly, Ballesca suggests Café Mezzanine – alternatively called The Fireman’s Coffee Shop – renowned for its Chinese-Filipino fusion cuisine.

He mentions that it was established by a volunteer firefighter, and adds that the earnings benefit the firefighting community.

Directly across the street from Manila’s UNESCO-listed San Agustín Church within Intramuros lies the Batala Bar.

“I adore their cocktails, particularly the Ube Colada, which is a variation of the piña colada infused with a touch of sweet purple yam,” explains Gozum. “Also, be sure not to skip their handcrafted ice creams—there’s a delightful array of traditional Filipino flavors available.” These include options like keso (cheese), avocado, macapuno (coconut flesh), and sweet corn.

Following independence, Manila witnessed the ascent of Makati, a place that evolved from the devastation of World War II to become the nation’s economic center. However, it remains far from dull; this is where you can discover the city’s most dynamic culinary advancements.

Gozum’s favorite place is The Curator, which has been listed as one of
The Top 50 Asia’s Best Bars for 2024
.

He mentions their creative cocktail list titled ‘People You’d Enjoy Having A Beverage With,'” he states. Among them are cocktails inspired by personalities such as the writer Salman Rushdie (a blend of rum with cardamom bitters and karak tea), along with the Manila-based art critic Marian Pastor Roces (featuring absinthe, melon liquor, and bitter gourd).

The nightlife in Makati centers around Poblacion, a neighborhood that maintains its disorganized yet charmingly chaotic atmosphere despite the emergence of skyscrapers nearby. It also boasts an unusual feature for the country not long ago: a vegan restaurant.

Gozum states, “Cosmic paves the path for [veganism] to take hold.” They specialize in Filipino comfort cuisine. He suggests trying their version of tofu sisig: a popular pulutan (snack often enjoyed with beer), which originates from the Pampanga region and traditionally uses pork jowl and ears.

The ruler of the highway

After Spain lost in the Spanish-American War of 1898, the Philippines was turned into a U.S. colony. A lasting emblem from this era is
the jeepney
, vibrantly colored public buses initially modified from US Army jeeps. They are closely associated with Leonardo Sarao, the former
kalesa
The operator of horse-drawn carriages who founded Sarao Motors in 1953, transforming it into one of the nation’s most cherished brands.

At the facility located in Las Pinas, which is part of southern Manila, operated by Sarao’s offspring,
Artisans still paint jeepneys manually.
.

Exploring the location allows you to appreciate the craftsmanship and artistic flair embodied in these vibrant vehicles,” explains Ballesca. “This represents a distinctive and genuine aspect of Filipino transit history, showcasing the country’s innovative character.

Shopping time

Ballesca recommends visiting the Salcedo Market for souvenirs, which takes place during weekends in Makati. He explains, “The market offers an array of fresh goods, specialty foods, and handcrafted items. It’s an excellent opportunity to delve into the local community atmosphere.”

Abu recommends Greenbelt 5 for higher-end souvenirs. She mentions, “It features many Filipino designers such as Zarah Juan, Pinas Sadya, and Earl Gariando.”

Devoted shoppers ought to schedule their trip around ArteFino, a biannual celebration focused on supporting Filipino artisans. “It is definitely
the
Number one spot for shopping,” asserts Abu. “The largest market takes place at the close of August [with the 2024 event featuring 100 local brands]. People look forward to it since they offer the finest collection of accessory and apparel creators. You can find an array of homeware items as well […], all distinctly Filipino. It’s here that we debut our latest designs.

A potentially even less expected source for local fashion trends is the mentioned Peninsula Manila. “They have showrooms on their second floor featuring designs from Filipino creators: wedding gown designers, apparel designers, and footwear makers,” explains Abu. “There’s an air of luxury and exclusivity about it.”