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Despite the averted Sugar Order No. 4, President Marcos in mid-August still raised the possibility of importing sugar to the Philippines to address the sugar crisis. [ 31 ] [ 32 ] He said that around 150,000 MT of sugar could be imported to address the country's needs for the rest of 2022 and projected the current supply to last until October ...
Being the economic hub of the Philippines, the Metro Manila economy comprises 38.1% of the country's gross domestic product. The imposition of President Duterte's partial lockdown on the region on March 16 and the enhanced community quarantine on Luzon that superseded it impacts heavily on the Philippine economy as a whole .
The COVID-19 pandemic in the Philippines was a part of the worldwide pandemic of coronavirus disease 2019 caused by severe acute respiratory syndrome coronavirus 2 . [4] As of February 11, 2025, there have been 4,173,631 [ 1 ] reported cases, and 66,864 [ 1 ] reported deaths, the fifth highest in Southeast Asia , behind Vietnam , Indonesia ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
A weekly update on the impact of the COVID-19 pandemic on the world economy, and on major individual economies such as the US, China, Japan, other Asian economies, Europe, Australia and New Zealand has been produced by Saul Eslake, one of Australia's best-known economists, since late April 2020. [256]
In 2019, the Global Preparedness Monitoring Board reported the WHO's pandemic emergency fund remained was depleted by the 2018–19 Kivu Ebola pandemics. [11] As COVID-19 spread in January 2020, China began blocking exports of various medical supplies, including N95 masks, booties, and gloves produced by factories on its territory. [15]
As the world economy has struggled to regain its footing amidst the events of the past few years, Chinese exports have skyrocketed in the global market, rapidly increasing production to cover the quickly-rising global demand. In just one year, China's trade surplus with the US alone rose to $335.5 billion in 2021, up from $308.1 billion in 2020.
As of 2023, the COVID-19 pandemic is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS CoV‑2). Its effect has been broad, affecting general society, the global economy, culture, ecology, politics, and other areas.