Republic Act (RA) 10863

Palace signs customs modernization act into law

1 June, 2016 at 10:16

A measure seeking to upgrade the Bureau of Customs’ (BoC) ability to fast-track import processing and install safeguards against smuggling has been signed into law by President Benigno S. C. Aquino III.

GDP*, 2014	6.1% y-o-y growth
GDP*, 2015	5.8% y-o-y growth
GDP Per Capita, 2015f	$3,256
Exports**, 2014	$62,102 million
Exports**, 2015	$58.648 million
FDI Inflows, 2014	$5.7B (revised)
FDI Inflows, 2015	$5.7B (preliminary)
Poverty Rate, % of Pop, 1st sem 2014	25.8%
Population, 2016	102.2 million
Income Classification (WB)	Lower Middle Income
*in constant 2000 prices
**in current prices

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