by: Sarah Joson
Thursday, February 13, 2014 | Outsourcing News |
The Philippines has been maintaining a stable balance of payments (BOP) surplus since 2005, but over the years, its depletion has been closely observed. In 2013, it amounted to $5 billion, a huge drop from 2012’s $9.2 billion.
The BSP explained that surplus continues to drop this 2014 and reach nearly $3 billion. One of the reasons is the rise in the country’s imports of energy and raw materials for manufacturing operations.
Over the next three years, the BPO industry is anticipated to create 120,000 employment opportunities, producing a total of 1.3 million jobs. Revenue is seen to grow twice as much from 2013 and reach $27 billion this year.
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