{"id":244338,"date":"2020-02-08T00:57:49","date_gmt":"2020-02-08T05:57:49","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=244338"},"modified":"2020-02-08T00:57:49","modified_gmt":"2020-02-08T05:57:49","slug":"dti-sees-minimal-impact-of-ncov-on-ph-trade-economy","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/02\/08\/dti-sees-minimal-impact-of-ncov-on-ph-trade-economy\/","title":{"rendered":"DTI sees minimal impact of nCoV on PH trade, economy"},"content":{"rendered":"
\"\"<\/a>
FILE: Trade and Industry Secretary Ramon Lopez in New Delhi, India on January 25, 2018. YANCY LIM\/PRESIDENTIAL PHOTO<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Trade Secretary Ramon Lopez said Friday the impact of the novel coronavirus (2019-nCoV) in the country\u2019s trade and economic performance is minimal.<\/p>\n

In a text message to reporters, Lopez said the country\u2019s overall trade with the province of Hubei, ground zero of the 2019-nCoV, is only 0.9 percent of the total trade with China.<\/p>\n

Hubei only shared 1.2 percent of the Philippines\u2019 import from China and 0.5 percent of the country\u2019s total export to the East Asian nation, he added.<\/p>\n

\u201cAssuming companies sourcing from affected areas in China, (they) may find alternative sources so as not to disrupt their supply chain. So this would further minimize the impact on trade,\u201d Lopez said.<\/p>\n

Data from the Philippine Statistics Authority show that from January to November last year, two-way trade between the Philippines and China amounted to USD31.34 billion.<\/p>\n

The Philippines\u2019 exports to China stood at USD8.79 billion while imports from China reached USD22.55 billion.<\/p>\n

Lopez noted that the main effect of the 2019-nCov is on the movement of people, particularly the tourism sector.<\/p>\n

\u201cBut it can mean lowering of hotel and plane rates to encourage more domestic tourism,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Trade Secretary Ramon Lopez said Friday the impact of the novel coronavirus (2019-nCoV) in the country\u2019s trade and economic …<\/p>\n","protected":false},"author":44,"featured_media":177630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-244338","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/244338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=244338"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/244338\/revisions"}],"predecessor-version":[{"id":244339,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/244338\/revisions\/244339"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/177630"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=244338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=244338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=244338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}