How PSEi member stocks performed — February 27, 2026
Here’s a quick glance at how PSEi stocks fared on Friday, February 27, 2026.
Strong earnings, peso may push up PHL shares
PHILIPPINE STOCKS could extend their momentum this week amid strong corporate results and a robust peso, although geopolitical concerns over the United States’ and Israel’s attack on Iran may affect sentiment.
On Friday, the Philippine Stock Exchange index (PSEi) went down by 0.21% or 14.22 points to end at 6,611.24, while the broader all shares index dropped by 0.34% or 12.47 points to close at 3,641.24.
Still, week on week, the PSEi surged by 146.12 points from its Feb. 20 finish of 6,465.12.
“Optimism for momentum revival lifted the local bellwether, backed by fresh corporate earnings releases,” 2TradeAsia.com said in a market note.
It said a resurgence in foreign fund flows and a stable peso backed the PSEi’s recent rebound. “This momentum is fundamentally supported by the ongoing fourth-quarter/full-year 2025 earnings season… This wave of recent affirmation of the local economic and corporate earnings trajectory further rehabilitates international investor perception.”
“Investor sentiment is seen to be improving as reflected in the local market’s rise last week. This comes mainly due to optimism on corporate results and the peso’s improved position. Trading activities have also strengthened, reflecting active market participation,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco likewise said in a Viber message.
On Friday, the peso closed at P57.665 per dollar, down by 5.7 centavos from its P57.608 finish on Thursday, data from the Bankers Association of the Philippines showed. But week on week, the peso jumped by 48.5 centavos from its P58.15 close on Feb. 20.
For this week, Mr. Tantiangco said Philippine shares could rise further. “Investors are still expected to monitor fourth quarter and full-year 2025 corporate reports. Optimistic anticipation of such following the robust results seen recently may still give support to the local market. The peso’s appreciation, if it continues, is also expected to help the local bourse.”
“However, the escalation of tensions in the Middle East following the US and Israel’s attack on Iran is expected to pose downside risks on the local market.”
Israel said it launched another wave of strikes on Iran on Sunday, as Iranians grappled with uncertainty after the killing of their supreme leader in US and Israeli strikes that threaten to destabilize the wider Middle East, Reuters reported.
Several loud blasts were heard for a second day on Sunday in the area of regional business hub Dubai and over Qatar’s capital of Doha, witnesses said, after Iran launched retaliatory strikes on the neighboring Gulf states in response to the strikes.
Mr. Tantiangco said the PSEi’s recent climb puts its current trading range at 6,550-6,800 trading range. “The key for the market now is to sustain its ground at the 6,550 level. The bourse is trading above its 10-day, 50-day, and 200-day exponential moving averages, reflecting positive momentum.”
For its part, 2TradeAsia.com placed the PSEi’s immediate support at 6,300 and resistance at 6,700. — A.G.C. Magno
Manila on heightened alert amid Iran conflict
By Adrian H. Halili, Chloe Mari A. Hufana, and Kenneth Christiane L. Basilio, Reporters
PRESIDENT Ferdinand R. Marcos, Jr. on Sunday said the Philippines is on heightened alert and prepared to escalate contingency measures to protect overseas Filipino workers (OFWs) in the Middle East as conflict escalates following the US and Israel’s attack on Iran.
In a video message released on Sunday morning, Mr. Marcos said Tehran had struck US bases in the United Arab Emirates (UAE), Bahrain, Oman and Israel, as retaliation for earlier bombings by Tel Aviv and Washington, raising fears of a widening war across the Middle East.
“We continue to monitor the situation to ensure that our countrymen in the Middle East remain safe and in good condition,” he said in Filipino.
US and Israeli forces launched a salvo of airstrikes on Iranian targets on Saturday, in what US President Donald J. Trump described as an effort to eliminate threats against America and prevent Iran from developing nuclear weapons. The strikes, which decapitated Tehran’s leadership and hitting the Middle Eastern nation’s ballistic missile facilities and military command centers, came just after talks between Washington and Tehran aimed at constraining the Islamic Republic’s nuclear program.
Mr. Marcos said monitoring efforts would continue as the situation evolves, noting the conflict may continue further.
“We continue to monitor the situation because it requires ongoing vigilance and is not yet over. I believe this war will continue. However, based on our latest report, our countrymen are in safe locations,” he added.
“They have moved to bomb shelters where available, and they are staying away from US bases to avoid potential danger. We will continue to provide updates as reports come in.”
Over the weekend, he ordered the Department of Foreign Affairs (DFA) and the Department of Migrant Workers (DMW) to take immediate steps to safeguard Filipinos in the region.
He also directed embassies and migrant agencies to determine the whereabouts of nationals in affected areas and to ensure assistance where necessary.
The Philippine Embassies in Israel, Iran, Qatar, Bahrain, Lebanon, and the UAE have issued separate advisories calling on OFWs to seek safety amid ongoing retaliatory missile strikes. The embassies have also warned citizens to avoid traveling amid the ongoing regional tension.
Also on Sunday, the Philippine military said it is closely tracking developments in the Middle East, adding that the armed forces are prepared to mount humanitarian missions to aid Filipinos in the region.
In a statement, the Armed Forces of the Philippines (AFP) said it “stands ready” to help in repatriating Filipinos in affected areas and bolster the government’s crisis response efforts if called upon.
“The AFP remains committed to its supporting role in whole-of-government efforts, ensuring readiness to assist whenever called upon to help safeguard Filipino lives and uphold national security,” it said.
“At the moment, the conflict is contained within the Middle East and there is no credible direct threat to our territory and Filipino and foreign citizens in the country,” the Department of National Defense (DND) said in a separate statement.
There are an estimated 2.41 million Filipinos living in Middle Eastern countries. More than 975,000 are stationed in the UAE, while others are in Saudi Arabia (813,000), Qatar (250,000), and Kuwait (211,000). There are about 800 Filipinos in Iran and 31,000 in Israel, according to data from the DFA.
Any prolonged conflict in the region risks disrupting jobs, delaying wage flows and complicating deployment cycles, while potentially driving up oil prices that could stoke inflation back home.
“Nonetheless, the DND and the AFP are ready to respond to probable contingencies, including possible repatriation support and crisis response coordination of Filipinos in affected countries should conditions warrant further action,” the Defense department said.
It added that protecting Filipinos overseas “remains a paramount concern,” especially amid “rapidly evolving security developments” in the Middle East.
The immediate repatriation of Filipinos in conflict-stricken countries among other efforts to secure OFWs has also been urged.
“Immediate repatriation and heightened alerts from our embassies should be in place should there be emergencies that need to be urgently addressed,” Renz Paolo B. Ramos, who teaches international relations at the University of Santo Tomas, said in a Facebook Messenger chat.
Josue Raphael J. Cortez, diplomacy lecturer at De La Salle-College of St. Benilde, noted that the government through the DFA and DMW should place safeguards for Filipinos should the conflict further escalate.
“The prioritization of affected Filipinos, as well as ensuring their rights should not merely be focused on Iran. Instead, we must also look into the safety and wellbeing of Filipinos in Israel and the US given that retaliations may transpire,” he added.
Senator Erwin T. Tulfo, chair of the Senate Foreign Relations Committee, called on the DMW and the Overseas Workers Welfare Administration to support Filipinos whose deployments to the region have been delayed due to ongoing tensions.
In a statement, the senator called on the agencies to “give attention to Filipinos who were about to leave the country for work but had to stay due to the ongoing unrest in the region.”
Mr. Tulfo said that the agencies should utilize its P2-billion budget under the Agarang Kalinga at Saklolo para sa mga OFWs na Nangangailangan Fund to support affected Filipinos.
“We should exhaust all the remedies available for them not only on the financial aspect, but also for their mental health.”
There appeared to be no immediate let-up in the attacks on Iran, with Israel launching another wave of strikes on Sunday, Reuters reported.
Mr. Trump said on Saturday that American forces would continue striking Iranian targets “throughout the week,” or “as long as necessary” to achieve Washington’s objectives of preventing Tehran from acquiring a nuclear weapon and ushering a regime change in Iran’s clerical establishment.
Impeachment bid against VP Duterte could test Marcos’ grip on House, analysts say
By Kenneth Christiane L. Basilio, Reporter
IMPEACHMENT PROCEEDINGS against Vice-President (VP) Sara Duterte-Carpio could challenge President Ferdinand R. Marcos, Jr.’s sway over Congress and test the durability of his majority coalition, political analysts said over the weekend, as politicians begin to weigh complaints against a political figure considered a frontrunner for the 2028 elections.
They said the House Justice Committee’s hearings on the impeachment attempts against Ms. Duterte could offer lawmakers a chance to hedge against her influence in the next election cycle and expose political fissures in the ruling coalition.
“The handling of the complaints will function as a stress test of the majority coalition,” Ederson DT. Tapia, a political science professor at the University of Makati, said in a Facebook Messenger chat. “A tightly coordinated response suggests leadership control and coalition discipline, while visible hesitation, abstentions, or fragmented messaging may signal underlying strain.”
The 39-member congressional panel is set to open hearings on four impeachment complaints against Ms. Duterte, who retains strong grassroots support despite allegations of misusing secret funds and amid a widening rift with her former ally Mr. Marcos, a dominant figure in the country’s north.
Ms. Duterte, who hails from the south, rose to national prominence on the popularity of her father, former President Rodrigo R. Duterte, whose combative, tough-talking style of leadership resonated among Filipinos.
Analysts said the impeachment drive against the Vice-President carries political undertones that could turn the proceedings into a proxy battle between her camp and Mr. Marcos’ allies, exposing tensions between the two leaders who ran as a ticket in the 2022 elections and won by a wide margin.
“The impeachment process at the committee level could function as an early proxy battle between the Dutertes and Marcoses,” Arjan P. Aguirre, an assistant professor of political science at the Ateneo de Manila University, said in a Facebook chat.
“Beyond the legal merits of the complaint, the proceedings may serve as a testing ground for coalition durability, factional loyalty and elite coordination,” he said.
Mr. Aguirre said the proceedings could “reveal early cracks” within the Marcos coalition.
“As the current administration approaches its final years, some members of Congress may hedge against the possibility of a Duterte political comeback,” he said. “This could manifest in slower deliberations, more extended debate, or reluctance to take strong anti-Duterte positions.”
Dennis C. Coronacion, chairman of the University of Santo Tomas Political Science Department, said the political survival of lawmakers also hinged on the positions they would take on Ms. Duterte’s impeachment proceedings.
“If they would decide to approve the impeachment complaints against VP Duterte, she could ruin their reelection bid by campaigning against them just,” he said in a Facebook chat.
Mr. Tapia said lawmakers should not frame the impeachment issue merely as a political contest ahead of 2028 but focus instead on their role in ensuring accountability for public officials.
“It is about whether Congress treats impeachment as a serious accountability process or as a numbers-driven political exercise,” he said.
“If the House Justice Committee conducts a transparent, evidence-based threshold review, it could strengthen institutional trust,” he added. “But if the process appears pre-determined or procedurally evasive, it risks reinforcing public cynicism toward Congress.”
Three impeachment complaints have been filed since early February by civil society groups and activists, alleging that Ms. Duterte misused P612.5 million in confidential and intelligence funds allocated to the Office of the Vice-President and the Department of Education, which she used to head.
A fourth complaint accused her of failing to fully disclose assets in her statements of net worth and of amassing wealth disproportionate to her lawful income.
Meanwhile, a group of complainants behind the second impeachment case against Ms. Duterte said they will withdraw their complaint, opting instead to shift their support to the third complaint to help move the case forward.
In a statement on Sunday, advocacy group Tindig Pilipinas said they backed out and decided to instead consolidate support for the third complaint accusing Ms. Duterte of committing impeachable offenses, such as violating the Constitution and betraying public trust.
“Consolidating our support behind the third complaint will strengthen our position and help move the case forward to the Senate impeachment court,” it said. “We believe that the impeachment process must proceed at the earliest possible time, free from procedural limbo and unnecessary legal delays that would otherwise obstruct the process.”
In the third complaint, Ms. Duterte was accused of illegally enriching herself, with critics saying her declared income as a former mayor and vice-mayor could not account for the hundreds of millions of pesos allegedly found in her bank accounts. She was also accused of bribery linked to government contracts and of threatening to kill President Marcos, the First Lady and former House Speaker Ferdinand Martin G. Romualdez, the President’s cousin.
ICC return seen as boost to Philippine credibility
By Chloe Mari A. Hufana, Reporter
REJOINING the International Criminal Court (ICC) could restore the Philippines’ standing abroad and reaffirm its commitment to the rule of law, which could define the legacy of President Ferdinand R. Marcos, Jr., analysts said.
Signing back into the Rome Statute could regain Manila’s standing in the global community, Dean of the De La Salle-College of St. Benilde’s School of Diplomacy and Governance Gary G. Ador Dionisio said, adding that renewed membership would strengthen its position in international fora.
“I think that will be the legacy of this administration, rejoining the ICC. That’s a big deal,” he told BusinessWorld in an interview. “It will increase our standing general council committee because we will uphold the rule of law.”
This move would project consistency in Manila’s commitment to multilateral mechanisms, especially with its continuous quest to uphold the 2016 ruling of the Permanent Court of Arbitration in the South China Sea.
The Philippine Palace has earlier said there are no talks yet if Manila would rejoin the tribunal following its exit in 2019 at the directive of former President Rodrigo R. Duterte, who is currently detained in The Hague over alleged crimes against humanity.
Still, analysts cautioned that the impact of re-entry would be felt more in the political arena than in the legal sphere.
Ederson DT. Tapia, who teaches political science at the University of Makati, said the decision would likely revive an accountability narrative centered on human rights, rule of law and institutional credibility as the 2028 national elections approach.
“Rejoining the ICC would be more political than legal in its impact,” Mr. Tapia said via Facebook Messenger. “Rejoining signals commitment to multilateral norms and institutional confidence.”
For Mr. Marcos, the decision is ultimately strategic, Mr. Tapia said. If the goal is institutional normalization and reinforcing multilateral commitments, there is a case for rejoining.
But if maintaining coalition stability ahead of 2028 is the priority, caution may prevail following the announcement of Mr. Duterte’s daughter, Vice-President Sara Duterte-Carpio’s presidential bid in 2028.
“Heading into 2028, [rejoining the ICC] would revive the accountability narrative: rule of law, human rights, institutional credibility,” Mr. Tapia added.
“That could benefit reform-oriented candidates while putting pressure on factions closely associated with resistance to external scrutiny. In short, it may sharpen polarization rather than ease it,” he added.
The Marcoses and Dutertes have been embroiled in a bitter feud despite delivering a landslide victory in the 2022 national elections, which put Mr. Marcos and Ms. Duterte into power.
The two top officials have since been at odds following the Vice-President’s resignation as Education secretary in June 2024, citing personal and professional issues upon stepping down.
In March 2025, Mr. Duterte was flown to The Hague for his alleged crimes against humanity stemming from his war on drugs campaign, which has reportedly killed thousands of Filipinos, mostly from the urban poor.
After almost a year, on Feb. 27, 2026, the Pre-Trial Chamber of the ICC concluded the confirmation of charges hearing in Mr. Duterte’s case.
The tribunal will now deliberate on whether there is sufficient evidence to proceed to trial on alleged crimes against humanity tied to the war on drugs.
Judges have up to 60 days to decide whether to confirm the charges, dismiss them, or request additional evidence.
Mr. Duterte waived his right to attend the hearing, citing his “old, tired and frail” body. If charges are confirmed, the case will advance to trial; if not, proceedings could end or be reopened depending on evidentiary findings.
While supporters of Mr. Duterte argued the tribunal has no jurisdiction after the Philippines’ 2019 withdrawal, the court maintains authority over alleged crimes committed during the period when Manila was still a party to the statute.
Flights to Middle East canceled
THE Civil Aviation Authority of the Philippines (CAAP) reported that 23 international flights were canceled and three others diverted amid heightened security concerns in parts of the Middle East.
“We are closely monitoring the situation in the Middle East and are in constant coordination with airlines, airport authorities, and international aviation partners. The safety and security of passengers and flight operations remain our highest priority,” CAAP Director General Raul L. Del Rosario said in a statement on Sunday.
CAAP said it is taking a proactive measure to ensure the safety of all passengers amid the ongoing tensions between the US and Iran.
“CAAP is closely monitoring flight operations following heightened tensions in the Middle East, which have resulted in several flight disruptions affecting routes to and from the region,” it said.
According to CAAP, airlines that have announced flight cancellations include Cebu Pacific (CEB), Philippine Airlines, Qatar Airways, Gulf Air, Etihad Airways, and Emirates.
Tensions have escalated after Iran targeted US assets across the Middle East in retaliation for a joint US-Israel attack on Iranian territory, according to reports.
“Cebu Pacific continues to closely monitor developments related to the security situation in parts of the Middle East. The safety and well-being of our passengers and crew remain our highest priority,” Cebu Pacific said in a statement on Sunday.
In an advisory on Sunday, the budget carrier said it is canceling flights to Manila-Dubai on March 2.
“CEB will continue to assess its flight operations to and from the Middle East. As this remains a developing situation, further schedule adjustments may be necessary,” it said, noting that it is also providing free rebooking and travel fund conversion for affected flights.
In a separate advisory, flag-carrier Philippine Airlines said it is also canceling its Manila-Doha and Doha-Manila flights for March 1, and its Doha-Manila flights on March 2.
“These cancellations are due to continuing operational restrictions affecting flight operations in the region,” it said. — Ashley Erika O. Jose
Senate bill seeks DPWH overhaul
A BILL seeking to reorganize the Public Works department has been filed in the Senate, aimed at curbing corruption in the agency and strengthening transparency.
Senate Bill No. 1835, filed by Senator Vicente C. Sotto III, seeks to overhaul the Department of Public Works and Highways (DPWH), reorganizing its central, regional, and district offices.
“As one of the departments receiving the largest budget allocations, Filipinos rightfully expect that every peso entrusted to the DPWH translates into safe, resilient, and responsive infrastructure,” he said in the bill’s explanatory note.
The proposed measure seeks to amend the Public Works department’s mandate, powers, organizational structure, and operational framework, including revisiting the functions of its undersecretaries and assistant secretaries.
“It is imperative to revisit the organization of DPWH to identify where the gaps are and where opportunities for corruption may lie,” Mr. Sotto said.
It will also reorganize the department according to key infrastructure projects to decentralize preparation and implementation of projects, as well as reduce opportunities for anomalies and delays.
The proposed measure also introduces the creation of an Infrastructure Maintenance Services Unit that would inspect, monitor, and evaluate completed projects. It would also maintain a centralized publicly accessible infrastructure database.
It also pushes for regional offices to assume project identification and bidding processes, previously handled by district offices. On the other hand, districts will now handle supervision, monitoring, and recommendatory functions.
Mr. Sotto said that the bill was drafted as a result of the Senate’s Blue Ribbon Committee hearings and is expected to undergo committee deliberations.
Senior officials of the DPWH have been implicated into a multibillion-peso corruption scheme involving anomalous flood control projects. — Adrian H. Halili
DA halts use of fertilizer bags
THE Department of Agriculture (DA) said it halted the delivery and use of 11,000 fertilizer bags in Mindoro due to the supplier’s registration violations.
In a statement on Sunday, the DA said fertilizer supplier Agri-Victorious Trading Corp. was found to have delivered products in sacks that indicated an expired Certificate of Product Registration from the Fertilizer and Pesticide Authority (FPA).
Although the fertilizers’ nutrient content passed laboratory tests, Agriculture Secretary Francisco P. Tiu Laurel said compliance with registration requirements is “non-negotiable.”
“Farmers depend on us to ensure that every input they receive is properly registered, validated, and safe. Any product without a valid registration has no place in the market,” he was quoted as saying in the statement.
According to the DA, the FPA is conducting an investigation and gathering pertinent documents to determine the appropriate legal actions against the supplier.
The DA said a total of 11,353 bags are subject to a Stop Use, Move and Sale order. The figure does not include volumes already distributed to farmer-beneficiaries before the expired registration was detected.
DA Mimaropa Regional Director Christopher R. Bañas said in the statement that no government funds have been released for the delivery, citing payment and compliance safeguards built into the procurement contracts. — Vonn Andrei E. Villamiel
UK: PHL seen as key market for green infra projects
THE UK development finance institution, British International Investment (BII), said the Philippines has been designated an important market for climate-related and green infrastructure investment.
“The commitment of the government is to invest 500 million pounds in this particular strategy cycle of 2022-2026 in Southeast Asia. And the three main markets for us are the Philippines, Indonesia, and Vietnam,” according to Srini Nagarajan, managing director and head of Asia at BII.
“The Philippines is an important market for us. The country, as a market, is also quite conducive in terms of the operating environment, policies, and others,” he added.
Between 2023 and 2025, BII committed 308 million pounds (nearly $396 million) in climate finance in Southeast Asia, while it has also mobilized over $139 million of private capital into its investments between 2022 and 2024.
In the Philippines, BII investment commitments have hit 46.5 million pounds to support greenhouse gas emission reduction targets by 75% by 2030.
“We specifically don’t have country limits and we invest across markets wherever there are opportunities … Our intention to invest here is also quite high,” he said.
He said that the Philippines has been successful in encouraging renewable energy projects.
“In terms of policy environment, in terms of the need for energy, and in terms of lower execution risks, the Philippines stands out,” he added.
However, he said that the Philippines could further leverage this strength through digitalization.
“Digitalization of records is very, very critical. If you try and digitalize the whole process of land acquisition, then the process gets a lot simpler, so digitalization of records across not just land but every other part of it is very important,” he said.
“I think electronic bidding is very important so that the process gets more transparent and the price discovery happens better rather than closed bidding,” he added.
He also cited the need to find a way to provide distributed generation using microgrids to the smaller islands.
“People are trying to do microgrids, but the government should come up with a good policy on that. How do we support the smaller islands? Because for them to be connected to the grid is going to take a long time,” he said.
“Decentralized energy generation and solutions using microgrids and the policy framework around that are very critical,” he added.
UK Export Finance Country Head for Malaysia, the Philippines, and Thailand Valentino Dass said that the export credit agency has a market risk appetite of 5 billion pounds for the Philippines.
“That is available for sovereign-type projects and non-sovereign, meaning private-sector projects. We are keen to see strategic sectors such as transportation infrastructure, renewable energy, and healthcare if there are any opportunities there,” he told reporters last week.
“All in all, we have the appetite to do longer tenor or shorter tenor type of transactions,” he added.
The Philippines and the UK held their inaugural Joint Economic and Trade Committee meeting last year, at which the Philippines secured access to 5 billion pounds of financing from UK Export Finance for infrastructure, renewable energy, and digital projects.
Mr. Dass said that the UK and the Philippines are still working on a financing framework that will allow sovereign projects in the Philippines to tap the funding.
“In the meantime, we can also support private sector projects, as these do not need the framework in place,” he added. — Justine Irish D. Tabile
Metallic mineral output hits record P301 billion in 2025
METALLIC MINERAL production last year rose 18.2% to a record P301.32 billion, driven by a sharp increase in gold prices.
Citing preliminary data, the Mines and Geosciences Bureau said gold accounted for 54.33% of the value of metallic production despite a decline in volume.
Gold production slipped 8.8% year on year to 26,325 kilos. However, higher global prices lifted the total value of gold output by 29.6% to P163.7 billion.
Gold prices averaged $3,442 per troy ounce in 2025, up 44.14% from a year earlier, according to the World Bank.
“The rally in recent months has been driven largely by investment demand, supported by a combination of geopolitical tensions, macroeconomic concerns, and heightened policy uncertainty, reinforced by a weaker dollar and recent US monetary policy easing,” the World Bank said in an October outlook report.
Silver production fell 17.5% last year to 44,599 kilos. However, higher prices drove the total value of silver output to P3.11 billion, up 7%.
Global silver prices averaged $39.8 per troy ounce last year, up 40.64%, according to the World Bank.
“Silver prices have also risen to record levels, reflecting the metal’s dual roles as a safe-haven asset and a key input in fast-growing renewable energy applications,” the World Bank said.
Meanwhile, the nickel ore output rose 5.6% to 37.81 million dry metric tons (DMT). The value of nickel production grew 18.2% to P69.36 billion.
The World Bank said global nickel prices averaged $15,162 per metric ton (MT) last year, 9.83% lower.
Copper concentrate production declined 9.7% to 231,885 DMT. Copper output in metal equivalent fell 13.3% to 46,084 MT.
Firmer copper prices helped cushion the impact on overall value. The total value of copper output slipped 2.2% to P26.63 billion.
The World Bank said global copper prices averaged $9,947 per MT, 8.81% higher. — Vonn Andrei E. Villamiel
Iran crisis seen highlighting need for diversified trade, energy sources
THE ATTACKS on Iran by the US and Israel highlights the need to minimize the potential for trade disruption and widening the trade deficit by broadening the lineup of countries the Philippines trades with, analysts said.
“Any escalation that disrupts Middle East supply or raises risk premiums can push oil prices higher, increasing our import bill, widening the trade deficit, and adding inflation pressure,” Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said via Viber.
To mitigate the impact of the Iran crisis in particular, the Philippines must not be overly dependent on Middle Eastern supply subject to being choked off in a crisis, he said.
“This development underscores the importance of trade diversification and energy resilience, and maintaining macroeconomic buffers to absorb external shocks,” Mr. Rivera said.
The trade-in-goods deficit narrowed 17.8% year on year to $4.05 billion in January. It has been in deficit for over a decade, or since the $64.95-million surplus posted in May 2015.
Foreign Buyers Association of the Philippines (FOBAP) President Robert M. Young said the group is factoring in delays and canceled shipments as a result of the Iran crisis.
“Some of FOBAP members’ raw material suppliers come from the Middle East and Arab states, such as Turkey, India, and Pakistan,” he said via telephone.
“We are expecting delays or cancellation of shipments due to the potential imposition of embargoes.”
“Wars have devastating economic effects, such as the disruption of markets and an increase in risk and uncertainty,” he said.
George N. Manzano, associate professor at the University of Asia and the Pacific, said the impact of the Iran crisis on the Philippines will be indirect.
“We don’t trade much with Iran, relative to other countries,” he said via Viber, but added heightened uncertainty in global trade could hurt the Philippines’ flow of foreign investment and shipping movements, apart from the most immediate impact on oil prices, he said.
“Any escalation of the conflict can push global oil prices and since the Philippines is a net oil importer, that may lead to higher inflation,” he said via Viber.
Headline inflation picked up to 2% in January from 1.8% in December 2025.
The Bangko Sentral ng Pilipinas projects inflation to accelerate between 2.3% and 3.1% in February, caused by higher fish, rice, and fuel costs.
Mr. Rivera added that slower trade and growth globally could dampen domestic demand and raise production costs.
“If global growth softens, demand for Philippine exports, especially electronics and services, could moderate,” he said.
The crisis could also weaken investor sentiment in the Philippines as companies turn cautious, Mr. Rivera added. — Beatriz Marie D. Cruz
Customs sees port cargo flow improving with consultations
THE Bureau of Customs (BoC) has proposed regular coordination meetings with port users and key government agencies to ensure improved cargo flow at the Manila ports.
In a Facebook post, the bureau said that it met with agencies and port users “to align strategies, strengthen coordination, and support seamless cargo flow at the Manila International Container Port and the Port of Manila.”
“The objective of the meeting was to sustain efficient port operations through early coordination, shared planning, and practical data-driven solutions that support both government oversight and industry operations,” the BoC said.
It added that the consultation process helps anticipate potential pressures and ensures that systems and processes remain responsive and effective.
During the meeting, the participants discussed how to strengthen planning and forecasting and streamline implementation of customs rules such as the dwell time rule and cargo release procedures.
“Commissioner Ariel F. Nepomuceno also proposed the conduct of regular coordination meetings among concerned agencies and industry representatives to continuously identify emerging issues and implement timely measures when necessary,” it said.
“He underscored that efficient port operations are a shared responsibility that require close collaboration, transparency, and prompt action,” it added.
Through these dialogues, the BoC aims to enhance yard management, streamline cargo release procedures, ensure the consistent application of policies, and reinforce contingency planning.
“The BoC remains committed to safeguarding trade facilitation, supporting economic growth, and delivering responsive and effective public service,” it added. — Justine Irish D. Tabile