This was revealed by the National Economic Development Authority quoting a report by the Philippine Statistics Authority .
“Merchandise trade may recover in 2021, but this will depend on how fast we can contain the spread of COVID-19 and mitigate its economic impact through government policies to support affected industries and workers,” Acting Socioeconomic Planning Secretary Karl Kendrick Chua said. Chua said that the export industry needs to be more responsive to the changes in consumer spending and redesign their product lines accordingly.
He then cited the need for government policies to expedite the sector’s recovery with the health of the population in mind, which will be critical to the country’s trade upturn.
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