Category: Business Mirror

THE Philippines is out to make heads turn when it vies in the tough 70-nation Pickleball World Cup that starts Sunday and ends Sunday in Da Nang, Vietnam.

Pickleball is currently the world’s fastest-growing sport and the Philippines is in the mix, experiencing a local boom that can be compared to that of badminton years ago.

‘That is why eyes are on us. They want to see what we can bring. And many will be surprised,’ Philippine Pickleball Federation president Shery Cu told last week’s Philippine Sportswriters Association Forum at the Philippine Sports Commission (PSC) Media Room.

Cu was joined at the forum by national team players Ruben Gonzales, a former member of the Philippine Davis Cup, and Nik Isagan, Kelsey Laurente and Fatima Amirul.

The Philippines will field 38 players vying in the Open, Under-18, Under-14, Kids and Seniors divisions of the event that drew more than 4,000 participants.

Cu said the team was formed after almost six months of local trials and while some slots were openly selected based on the players’ current standings, some made it via tryouts.

‘We want to make an impression. We are hoping for a podium finish. We expect a good finish in this World Cup,’ added Cu in the forum presented by San Miguel Corp., PSC, Philippine Olympic Committee, Milo and the country’s 24/7 sports app ArenaPlus.

Teams to beat in the event that was held in Peru and the United States in the past two years include Vietnam and the United States.

‘It’s an honor to represent the Philippines in pickleball now,’ said Gonzales, a two-time gold medalist in the Southeast Asian Games. ‘I’ve been with the national tennis team since 2010 and this is my first time playing for our country in pickleball.’

‘There’s a high chance but it’s going to be tough because there are many powerhouse teams like the US and Vietnam,’ said Isagan, who was also into tennis before switching to pickleball in 2023.

‘We will do our best and bring that gold medal back home,’ Laurente said.

THE speculations have been brewing for a few months. Ever since Saudi Arabia’s PIF-for Public Investment Fund-announced it was pulling funding for the renegade league in April, everyone knew the end was near.

Sure, there were/are rumors of a new investor. But even that were true, the size and scale surely wouldn’t equal that of what the Saudis put in.

So what’s next for LIV and the players who defected? Before we get into the what ifs and probabilities, let’s take a quick look into what happened and the effects LIV had on professional golf in general.

The early days

THE inaugural LIV London Invitational held in June 2022 drew mixed reactions, but way before the first tournament, the mudslinging was already in full gear.

Aside from huge contracts (some in nine figures US dollars), having a polarizing CEO in Greg Norman and funding from Saudi’s PIF ensured strong sentiments from various sectors.

I am of the opinion that when it comes to livelihood, we should respect each professional’s decision. Records and legacy aside, if you aren’t close to dominating the sport and breaking all sorts of all-time records, then getting a huge paycheck is an easy choice to make for any professional. That is the essence of being a pro after all, being paid to play.

Among the issues hurled at LIV is the source of their funding-the Saudi PIF. But the PGA Tour also has sponsors with money from the same region. So for me, that is a bunch of the pot calling the kettle black. Both LIV and the PGA Tour have oil-stained hands.

On the issues of recruiting players and giving large contracts, and on funding, I am for LIV. As for growing the game of golf, LIV has also done well by holding tournaments outside the usual venues, with events played other than in the US and Europe.

So that’s another plus. In fact, locally, we have been the receiving end with The International Series Philippines last year being part of a pathway series into LIV.

The issue I have with the defectors to LIV was the various reasons they gave on why they jumped ship. From a less hectic schedule to growing the game, from better caddy treatment to gripes about PGA Tour regulations, the reasons were everything but money.

LIV had deep pockets and drew everyone from those atop the food chain to those barely hanging on to their cards.

Reality sinks in

AFTER a couple of years of battling for audience share, sponsors and critics, the cracks started to show. The business side really didn’t make much sense. The format of 54-hole tournaments also wasn’t working. Players lost their places on the Official World Golf Rankings and their chances to join majors with it. Only past major champions and a few exemptions were able to compete at the big events.

Ryder Cup qualifications were also lost, and in Henrik Stenson’s case, even his captaincy. LIV’s most vocal proponent and its brains, Greg Norman, was eventually ousted to give way to the possibility of better relations with the PGA Tour.

But all these efforts still couldn’t bring in the numbers.

The end is near

IN the past few days, LIV players have started posting statements on social media. While they will surely have good things to say about the rebel league, the future is very vague for those still in their prime and hoping for a pathway to return to the PGA Tour.

It helps that the top LIV recruits have made tens to hundreds of millions in guaranteed money for defecting. But for rookies who weren’t offered huge signing bonuses, and players who are at the twilight of their careers, it may spell the end.

LIV was not all bad. It forced a number of changes to the PGA Tour and brought more money in for the best players. The rivalry and bitter debates also resulted in renewed interest in golf.

If LIV was hoping for an eventual merger with the PGA Tour like what happened in other pro sports like the ABA (American Basketball Association) and NBA (National Basketball Association) or in pro football, they never had enough muscle to do it.

LIV simply never gained traction and the majority of the stories during LIV’s short episode revolved around being able to play both LIV and majors, or LIV and PGA events, or LIV and the Ryder Cup.

If LIV truly had such an amazing product, they wouldn’t have had to look elsewhere for validation.

LIV supporters are calling this the end of LIV 1.0, probably thinking there will be something next. That looks remote if not impossible.

Golf is better united and everyone wants the best players competing on the same stages. It seems like good riddance to LIV Golf.

Mount Kailash is a Himalayan peak in southwestern Tibet, near China’s borders with Nepal and India. It rises more than 6,400 meters (21,000 feet) above sea level and lies close to Lake Manasarovar. Both have long been part of Sanskrit religious and literary traditions.

Mount Kailash holds sacred significance for Hinduism, Buddhism, Jainism and the Tibetan Bon tradition. Each associates the mountain with different beliefs and sacred histories.

According to the International Centre for Integrated Mountain Development, the mountain is considered the home of Shiva, the Hindu god of destruction, and Parvati, a Hindu goddess associated with marriage, fertility and motherhood.

Followers of the Tibetan Bon tradition regard it as a seat of spiritual power and associate the region with Tonpa Shenrab, the tradition’s founder.

Geographer Emily Yeh, a professor at the University of Colorado Boulder, who has conducted research in Tibet, wrote in 2017 that Kailash is associated with the mythical Mount Meru, considered the center of the world in Hindu and Buddhist cosmology.

The surrounding landscape also figures in local legends and Himalayan traditions. ‘Shared Sacred Landscapes,’ a book published by ICIMOD in 2017, gathers some of them.

One story tells of Guru Nanak, the founder of Sikhism, who visits villagers longing to make the pilgrimage to Mount Kailash. Nanak teaches them that the true pilgrimage is a spiritual journey within themselves.

Pilgrims travel to the mountain for purification

India’s government operates an official Kailash Manasarovar pilgrimage from June through August or September each year, with routes through the states of Uttarakhand and Sikkim. Private operators also organize pilgrimages through Nepal.

Pilgrims traditionally walk around Mount Kailash rather than climb it, completing a roughly 33-mile (53-kilometer) circuit around the mountain.

The journey around the peak is believed to cleanse pilgrims of their sins and can take about three days to complete. Hindus and Buddhists traditionally circle the mountain clockwise, while followers of Bon travel counterclockwise.

At nearby Lake Manasarovar, some Hindu pilgrims bathe in its waters as a ritual of spiritual purification.

Yeh wrote that Tibetan pilgrims stop at monasteries and other sacred sites along the route, touching prayer beads or their foreheads to features believed to bear sacred imprints. Other rituals are meant to test a pilgrim’s merit, sin or fortune.

Pilgrims are among the missing after floods

The death toll for the disaster continues to grow into the hundreds, and authorities in Nepal and China have counted well beyond a thousand people among the missing.

The missing include at least 178 people from India, most of whom were believed to be on the pilgrimage. The missing also includes people from US, Australia, Britain and Canada.

Indian spiritual guru Jaggi Vasudev, also known as Sadhguru, said in a post on X that 77 people returning from the mountain with groups organized by his Isha Foundation were at an immigration center in Gyirong, Tibet, when the floods struck.

The floods followed a glacier collapse that sent debris rushing downstream through communities on both sides of the border. Similar flash floods have struck the region as warming temperatures increasingly destabilize Himalayan ice.

The Cebu Chamber of Commerce and Industry (CCCI) is undertaking a data-driven review of Cebu’s competitiveness, including the cost and reliability of utilities, regulatory efficiency and the overall ease of doing business, as the province competes with other investment destinations across Asia.

CCCI President Regan Rex King said the chamber is moving toward a more deliberate, evidence-based assessment of Cebu’s investment proposition amid concerns that rising business costs and friction in government processes could affect the province’s ability to attract and retain investments.

‘Cebu is not competing only with other Philippine cities. We are competing with destinations across Asia for investment, talent, businesses, tourists, technology, and opportunity,’ King said during his president’s report at the chamber’s third General Membership Meeting on Thursday evening.

While Cebu continues to benefit from its strategic location, talent pool, entrepreneurial culture, tourism base and established industries, King said investors can now compare locations, operating costs, incentives, infrastructure and business conditions more quickly than ever.

‘The world can compare Cebu with other destinations instantly. So we must be able to do the same,’ he said.

As part of the initiative, CCCI is reviewing representative electricity costs across competing locations and examining power reliability, with King stressing that the analysis remains preliminary and will still have to be validated and normalized for customer classes, tariff structures, taxes and other variables.

The chamber is also looking into water costs and reliability, particularly for large commercial and industrial users such as hotels, hospitals, food manufacturers, laundries, restaurants and industrial operations.

For businesses, King said, the concern goes beyond the published price of power or water.

‘It is the total cost of reliability,’ he said, noting that utility expenses and service interruptions can directly affect operating margins and investment decisions.

The review will not be limited to utilities.

CCCI is also using findings from its Cebu CEO Survey to identify friction points in the local business environment.

The survey showed that while chief executives were relatively positive about certain processes, such as securing business permits and registering vehicles, satisfaction was lower in other areas.

Only 15 percent of respondents expressed satisfaction with securing necessary approvals and rulings, while 45.8 percent saw room for improvement in how government agencies make decisions and rulings.

Another 43.9 percent pointed to the need for government agencies to respond to requests with greater urgency.

King said the findings underscore that competitiveness is determined by the combined experience of businesses, covering utilities, infrastructure, regulation, government responsiveness and the time required to complete transactions.

The CCCI also plans to work with other chambers and business organizations to benchmark Cebu against competing destinations, identify gaps and recommend interventions.

The chamber intends to convene government, utilities, investors, industry leaders, academe and experts, with the goal of putting evidence behind policy advocacy and monitoring whether reforms produce measurable results.

‘We can put evidence on the table. We can articulate what businesses are actually experiencing. We can benchmark Cebu against competing destinations,’ King said.

The initiative comes as several sectors face varying degrees of pressure, including furniture, fashion accessories, tourism, real estate and the business process outsourcing industry.

King said these developments should not necessarily be viewed as isolated challenges, particularly if multiple sectors are experiencing pressure at the same time.

‘If the evidence confirms that utility costs, infrastructure constraints, regulatory friction, or other factors are eroding Cebu’s competitive position, we must be prepared to say so, and more importantly, to do something about it urgently,’ he said.

For CCCI, the central question is increasingly becoming what Cebu can offer an investor-and why the province should be chosen over other locations.

The answer, King said, will have to be supported not just by Cebu’s traditional advantages, but by measurable evidence showing where the province remains competitive and where urgent intervention is needed.

A surge of water overwhelmed the Sto. Cristo Dam on Friday, August 28, damaging portions of its retaining wall and slope protection. At least four houses were swept away as heavy monsoon rains triggered flooding and forced evacuations in downstream communities in Pampanga.

The National Irrigation Administration said the dam could not accommodate the large volume of water coming from upstream, causing water to overshoot and change course. The redirected flow damaged portions of the dam’s slope protection and retaining wall, according to NIA and the Pampanga provincial government.

Large amounts of forest and agricultural debris had also accumulated near some openings of the dam, potentially affecting the normal flow of water, officials said. The extent to which the debris contributed to the incident had not yet been established.

The Sto. Cristo Dam is located between Barangays Sto. Cristo and Sta. Rita.

Governor Lilia Pineda inspected the damaged portion Friday as engineers assessed the structure and monitored water coming downstream. She said authorities were also evaluating whether water levels could continue to rise as additional runoff came from mountainous areas.

Rescue and forced evacuation operations were underway in Barangay Sto. Cristo as floodwaters rose in vulnerable areas.

Lubao Mayor Esmie Pineda said responders had evacuated residents, including children and senior citizens. Efforts continue to reach those in danger zones. Electricity was also shut off in affected areas as a precaution.

‘Hindi ko pa mabilang yung laman ng truck kasi napuno yung isang dump truck. Pinapatay din namin ang kuryente,’ the mayor said in an interview. ‘Sabi ko hindi ko sila ini-encourage na mag-stay kasi wala din di ba baka lumaki pa.’

Pineda said rescue vehicles, personnel, and medical teams were on standby.

As of 10 a.m. Friday, 16 of Lubao’s 44 barangays had been affected by flooding, according to the Lubao Disaster Risk Reduction and Management Office.

Floodwaters reached up to 3 feet in Barangay Sta. Tereza.

The Lubao municipal government, provincial government, Philippine National Police, Bureau of Fire Protection, Philippine Army, and Philippine Coast Guard assisted in the evacuation and rescue operations.

Three long-arm excavators from the Pampanga Provincial Disaster Risk Reduction and Management Council, NIA, and the Department of Public Works and Highways were deployed to clear debris around the dam’s openings and help restore water flow.

Authorities continued to assess the extent of the damage and the condition of the Sto. Cristo Dam.

The governor also ordered preemptive and forced evacuations in high-risk and vulnerable areas across Pampanga amid the continuing heavy rains.

Flooding, road closures and landslide reported

Flooding and infrastructure damage were also reported in the City of San Fernando.

Residents of St. Jude Village in Barangay San Agustin were rescued and evacuated, according to the City of San Fernando information office. A bridge in Roseville, Barangay Telabastagan, was also reported damaged.

Flooding persisted into Friday night, with a video submitted by a resident showing water at the entrance of Vista Rica Subdivision near Our Lady of Sorrows Church along McArthur Highway in Barangay Dolores. Traffic also remained heavy in the area.

Meanwhile, in Angeles City, Mayor Jon Lazatin ordered the temporary closure of a portion of Abacan Diversion Road in Barangay Amsic as water from the river intermittently spilled onto the road.

Motorists were advised to take alternate routes while authorities monitored conditions.

Lazatin also advised motorists to avoid the bridge along Anunas-Cuayan Road while the City Engineer’s Office assessed the bridge approach.

A landslide was also reported in Purok 2 and Purok 3 in Barangay Anunas, prompting the deployment of a response team for assessment and safety checks. Affected families were evacuated to the Barangay Anunas Covered Court and Anunas Elementary School.

Pampanga remained under a red rainfall warning as of 8 a.m. Saturday, August 29, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration. Authorities continued rescue, evacuation, and monitoring operations across the province.

JAPAN Credit Rating Agency, Ltd. (JCR) kept the Philippines’ ‘A-‘ credit rating with a ‘stable’ outlook on the back of underlying credit strengths despite the sharp economic slowdown.

JCR announced on Friday that it affirmed the sovereign’s foreign and local currency long-term issuer ratings, reflecting ‘high and sustained’ economic growth backed by domestic demand, low-level external debt and resilience to external shocks thanks to accumulated foreign exchange reserves.

‘However, reducing income disparity through rural development and infrastructure development remain important tasks to be addressed,’ the credit rater raised.

The slowdown in the pace at which public works projects are being implemented and weaker consumption brought on by rising crude oil prices were also noted by JCR as culprits to the slowing of economic growth.

As a result, the pace of fiscal improvement has slowed, with JCR expecting the government debt-to-GDP ratio to remain in the mid-60 percent range for some time.

Among the sovereigns rated in the A-range by the credit rater, the Philippines’ 63.2-percent government debt-to-GDP ratio at the end of 2025 is a ‘relatively low level,’ JCR said.

‘JCR believes that, as the government works to improve the investment environment and advance industrial upgrading, the economy will return to high growth rates over the medium term,’ it said.

Full-year 2026 real GDP growth is projected by JCR to reach the mid-3 percent range, fueled by recovery in public infrastructure investment and the effects of price stabilization policies.

JCR also cited the government’s promotion of infrastructure investment under the ‘Build, Better, More’ policy to address the infrastructure gap, while utilizing public-private partnerships to complement public infrastructure spending.

The agency also pointed to the 2024 enactment of the Create More Act, which seeks to expand tax incentives and clarify the value-added tax system, as a measure that should further improve the country’s investment environment.

It, likewise, mentioned the Philippines’ participation in the US-led Pax Silica, a multilateral initiative launched this year aimed at ensuring a stable supply of semiconductors, artificial intelligence, critical minerals and other resources.

Moreover, JCR expects the economy will continue being highly resilient to future external shocks as the country’s foreign exchange liquidity position remains solid despite the growing uncertainty brought on by the deteriorating situation in the Middle East.

Foreign exchange reserves hit a total $110.8 billion at the end of 2025, more than seven months’ worth of imports.

‘JCR’s affirmation of the Philippines’ A- rating and Stable outlook reflects the resilience of our economy and the government’s commitment to fiscal consolidation and long-term reforms,’ Finance Secretary Frederick D. Go was quoted in a statement as saying.

‘It reinforces investor confidence and supports our efforts to attract investments, create quality jobs, and sustain inclusive growth,’ he added.

Bangko Sentral ng Pilipinas Governor Eli M. Remolona also said in a statement that JCR’s affirmation of the country’s credit rating indicates the importance of upholding sound policies and continuing reforms that support investment and productivity at a time of heightened uncertainty.

‘For its part, the BSP will continue to promote price stability, safeguard financial stability, and ensure safe and efficient payments and settlements. These efforts support sustainable growth and broader economic opportunities for Filipinos,’ Remolona said.

Just this Monday, Moody’s Ratings maintained its ‘Baa2’ long-term local and foreign currency issuer and senior unsecured ratings for the Philippines and kept its outlook stable.

Last week, Rating and Investment Information, Inc. (RandI) also affirmed the country’s ‘A-‘ investment-grade credit rating and maintained its ‘stable’ outlook.

The Philippines currently holds a ‘BBB+’ investment-grade credit rating from SandP Global Ratings and ‘BBB’ from Fitch Ratings.

A new chapter in MG Motor Philippines’ electrification journey is about to begin, as the brand prepares to introduce the new MG S5 EV and launch the MG New Energy Tour 2026, bringing its latest electrified vehicles and technologies closer to Filipino motorists.

Set to take place on August 27, 2026, at the Trinoma Activity Center, the upcoming event will mark both the Philippine debut of the MG S5 EV and the official kickoff of MG’s nationwide New Energy roadshow. Together, the launch and tour reflect MG’s continued push to make electrified mobility more accessible, practical, and relevant to the everyday Filipino driver.

At the center of the occasion is the MG S5 EV, an all-electric compact SUV designed around the demands of everyday driving. Combining sporty rear-wheel-drive performance with the versatility of an SUV, the S5 EV is positioned to offer an electric driving experience that is engaging enough for enthusiasts while remaining practical for daily commutes, errands, family trips, and weekend drives.

While the S5 EV represents MG’s latest move into fully electric mobility, its arrival also forms part of a larger push to help Filipino motorists better understand and experience the growing range of New Energy technologies available today.

This is where the MG New Energy Tour 2026 comes in.

Launching alongside the S5 EV in Manila, the nationwide roadshow will bring MG’s electrified lineup directly to motorists in different parts of the country. The tour will feature MG’s range of Hybrid+, Plug-in Hybrid, and Battery Electric Vehicles, giving visitors the opportunity to see the vehicles up close, explore their technologies, participate in interactive experiences, and get behind the wheel through test drives.

The roadshow will continue to different regions in the next months, bringing the New Energy experience to more communities and giving more Filipino motorists the opportunity to discover which type of electrified mobility best suits their lifestyle. For MG Philippines, the goal is to make New Energy mobility easier to understand and experience as the expanding range gives customers more choices when they consider the next vehicle for their daily lives.

The upcoming Manila event therefore marks the beginning of more than a new vehicle launch. It starts a nationwide conversation around how electrified mobility can become part of the way Filipinos drive every day. Customers, automotive enthusiasts, and the public are invited to join MG Motor Philippines on August 27, 2026 at the Trinoma Activity Center for the official unveiling of the new MG S5 EV and the launch of the MG New Energy Tour 2026.

Toyota Motor Philippines (TMP) held Race Weekend 3 of the 2026 TOYOTA GAZOO Racing (TGR) Philippine Cup, TMP’s premier racing series, last August 15 at the Batangas Racing Circuit (BRC). This marked the TGR Philippine Cup’s first time in BRC in its 13-year run.

The decision to bring the series to a new track comes in line with TGR’s mantra of pushing the limits for better by bringing the prestigious racing championship to territory that’s challenging, serving as a test that’s tough enough for both drivers and cars alike.

TMP continued the use of biofuels in Race Weekend 3, which also served as the second leg of its ‘rolling laboratory’ as it pursues its mission to advance more sustainable motorsports. The Vios one-make race car or OMR continues to be powered by an E20 bio-ethanol blend, while the Tamaraw OMR runs on a B5 coco-biodiesel blend.

Once again taking the track for Team TOYOTA GAZOO Racing Philippines were TMP President Masando Hashimoto, Justin ‘Buzzhype’ Santos, Chenee Jimenez, Alex Lim aka BanaweBoy, Will Lucas, and Enzo Ison, who finished third in the Tamaraw Class Sprint Race 8 that day.

The action of the weekend started intense and physical as the first race of the event, the mixed Sporting and Super Sporting Class Sprint Race 8 and Legacy Class Sprint Race 6, began with a dramatic and chaotic multi-car collision not even 10 seconds into lights out. The incident saw one car, that of Julia de los Angeles, spin out into the track and get taken out of the running.

The chaos of the opening moments of that race led Red Diwa to take first in the Super Sporting Class, which he maintained throughout the entire sprint. Alain Alzona passed Michael Bryan Co in that race to finish third on the podium, while Joaquin Garrido secured second place.

Another tense moment happened in the last race of the day, the Tamaraw Class Sprint Race 9, where TGR driver Enzo Ison’s car, dragged down with debris hanging from its side, collided with the car of teammate Will Lucas and spun out of control. Jesse Garcia, who won the Tamaraw Class Sprint Race 7, and Russel Reyes also got taken out with collisions late in the race.

Raymond Cudala took the lead very early in that same race, which left a nailbiter race for those aiming to secure a podium finish. The spots were eventually taken by Iñigo Anton and Oliver Aquino, respectively.

Alzona, who had two first-place finishes in three Super Sporting Class sprints that day, displayed calm, collected, and confident driving, secured his top spot in Sprint Race 9 with a masterful pass on the leading Michael Bryan Co just before the first turn. Co tried to stay close to take back the lead, but Alzona maintained his defense and composed driving to retain his spot all throughout and win the race.

‘Batangas Racing Circuit is a true racer’s track-fast, technical, and relentlessly demanding. For drivers who trust their craft, BRC has long been a dream circuit: a place that tests both skill and courage. As BRC celebrates its 30th anniversary, I am incredibly proud that TMP was able to bring the TGR Philippine Cup here for the very first time,’ shared TMP President Masando Hashimoto.

For fans who want more motorsports action, the TGR Philippine Cup is holding its fourth and final Race Weekend on September 10-12 at the Clark International Speedway.

With the success of Race Weekend 3 and the legs that came before it, TMP continues to push the limits of innovation, doing its part to help create a more sustainable future in both motorsports and mobility.

The TOYOTA GAZOO Racing Philippine Cup is brought to you by Official Tire Partner GT Radial, Official Engine Oils Partner Petron RevX and Petron Blaze Racing, Official Partner TOYOTA GAZOO Racing Academy and Premier Race Partner DENSO. In cooperation with MOMO Italy, PIAA, Sparco Philippines, Toyota Financial Services Philippines, Autoplus, ROTA, and VARTA. This event is also supported by 3M, AVT, QUAD, myToyota Wallet, OMP, Tuason Racing Sports Unlimited, Brakes by AutoPerformance, GENCHEM, Toyota Tsusho, and Toyota Aisin. Contributing sponsors are Aguila Auto Glass, Kinto One, AutoQuix, HKR Philippine Inc, Technol Eight, and Sun Logistics Technology Inc.

THE country’s trade deficit widened further in July as imports continued to grow nearly twice as fast as exports, according to the Philippine Statistics Authority (PSA).

The PSA on Friday reported that the country’s trade deficit reached $5.97 billion in July, 34.9 percent higher than the $4.43 billion recorded a year earlier.

The latest reading was also the largest deficit since May 2026, when the trade gap reached $6.10 billion.

The wider trade gap came as import payments increased 19.8 percent year-on-year to $14.12 billion from $11.79 billion, while export receipts grew 10.8 percent to $8.15 billion from $7.36 billion.

Overall, the country’s total external trade in goods reached $22.27 billion in July, up 16.3 percent from $19.14 billion a year earlier.

Imports accounted for 63.4 percent of total trade, while exports made up the remaining 36.6 percent.

The latest figures also brought the January-to-July import bill to $92.26 billion, 18.9 percent higher than the $77.58 billion recorded in the same period last year.

Exports during the seven-month period reached $54.92 billion, up 12.9 percent from $48.67 billion.

This left a January-to-July trade deficit of $37.34 billion so far.

Both the year-to-date export and import values were the highest recorded for the period since the PSA’s trade series began in 1991, the agency said.

Electronics

According to PSA, the faster growth in imports was led by electronic products, which posted the largest annual increase in import value among commodity groups.

Imports of electronic products rose by $1.75 billion to $4.60 billion in July from $2.85 billion a year earlier. Electronic products accounted for 32.6 percent of total imports during the month.

This was followed by mineral fuels, lubricants and related materials at $1.95 billion, or 13.8 percent, and transport equipment at $976.95 million, or 6.9 percent.

By major type of goods, raw materials and intermediate goods accounted for the largest share of imports at $5.71 billion, or 40.4 percent of the total. Capital goods followed at $3.84 billion, while consumer goods reached $2.58 billion.

On the export side, electronic products remained the country’s biggest export commodity, generating $4.79 billion or 58.8 percent of total exports.

The United States remained the Philippines’s biggest export market in July, absorbing $1.68 billion worth of Philippine goods, or 20.7 percent of total exports.

Meanwhile, China was the country’s largest import source, supplying $4.17 billion worth of goods, equivalent to 29.5 percent of total imports.

NEW ZEALAND may be the next major destination for Filipinos looking to study abroad as immigration data showed that Philippine student visa application approvals surged in 2025 and 2026.

According to Auckland-based education and immigration consultancy Right Education NZ (RENZ), official immigration data show that more than 6,200 student visa applications from the Philippines were approved, up from 4,726 the past year.

Meanwhile, only two Southeast Asian countries outpaced the Philippines in growth, with Lao PDR and Malaysia posting 34.3 percent and 32.5 percent, respectively. However, the Philippines still edged them in raw numbers as the country is reported to be ‘growing fastest in scale.’

As Filipinos have looked for opportunities to get permanent residency abroad, especially in English-speaking countries like the United States, United Kingdom, and Canada, the data meant that the Filipinos’ interest in residency and education in New Zealand is continuously growing.

Asked what makes New Zealand attractive to more Filipinos, Managing Director Jay Arañas of RENZ told BusinessMirror that this jump was due to the country’s consistent immigration policies and living standards.

Arañas explained that immigration policy has always been consistent for many years: ‘New Zealand has a straight pathway because when you [go there, your studies can be an entry point. When you finish], you will get a post-study work visa which will allow you to stay.’

He added that those who find work and qualify for residency can apply immediately.

For the family’s future

THOSE taking their postgraduate studies also have an avenue to migrate with their family to the Oceanic country. According to Arañas, ‘Filipinos usually would like to migrate for the future of their children. It’s easy to get residency, as long as you meet the [policies’ requirements].’

The RENZ official also said that most of their clients are undertaking postgraduate studies, citing migration with their family as the focal point of their decision to study in New Zealand.

‘Right now, the majority of our clients are taking a Master’s degree because with them, they can bring their spouse while they have an open work visa so they can work anywhere. They can also bring the kids, and they [kids] can study for free,’ Arañas said.

Still, the managing director cited growing demand among those still finishing their Bachelor’s programs. He also revealed that engineering and nursing courses are their top choices for Bachelor’s programs, while those pursuing postgraduate studies are inclined toward management because of their work experience.

Ideal conditions

OTHER factors include safety and peace, as New Zealand is ranked second on the 2026 Global Peace Index. The cost of living and tuition fees are lower than in the United States and the United Kingdom, and comparable to Australia and Canada.

While it is more affordable than the US and UK, the costs could still be hefty for some, as migrating to another country like New Zealand is also an investment.

‘The tuition fee here is paid before your visa is granted. Tuition fees can range from NZ$30,000 to NZ$65,000, on top of the cost of living,’ Arañas illustrated. ‘For a person to study, [a minimum of about P1.7 million will be needed, but about P700,000 or NZ$20,000] is ‘show money.”

‘It’s an investment in [the future, and of children],’ he added. He shared a client’s account of a family already enjoying the gains, or ‘returns on investment,’ because they are free from paying their child’s tuition from Year 9 through university.