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MANILA, Philippines – The Philippines is among the least vulnerable Association of Southeast Asian Nations (Asean) economies to mounting competitive pressures from Chinese exports, with most local manufacturing sectors facing only low to moderate displacement risks, Moody’s Ratings said.
In its latest report, the credit rating agency said the Philippines has the second-largest share of low-risk manufacturing sectors among the Asean-5 economies.
READ: China had a record $1.2 trillion trade surplus in 2025, as exports rose 6.6% in December
The risks stem from China’s export redirection, which Moody’s said is intensifying import competition and price compression across Southeast Asia.
