Asian Development Bank. Economist - World News, Politics, Economics, Business & Finance. Philippines: Economy. Philippines Economy 2016, CIA World Factbook. GDP - composition, by end use: household consumption: 72.6% government consumption: 11.5% investment in fixed capital: 20.2% investment in inventories: -0.2% exports of goods and services: 28.3% imports of goods and services: -32.4% (2013 est.)
GDP - composition, by sector of origin: agriculture: 11.2% industry: 31.6% services: 57.2% (2013 est.) Agriculture - products: sugarcane, coconuts, rice, corn, bananas, cassava (manioc, tapioca), pineapples, mangoes; pork, eggs, beef; fish. Philippines Economy. The Philippines or the Republic of the Philippines (officially), is a Southeast Asian country.
It is an archipelago of 7,107 islands located in the western Pacific Ocean. Manila is its capital city. Geographically, the Philippines can be divided into three parts, namely, Luzon, Visayas, and Mindanao. With all these islands combined, the country’s coastline is the fifth longest in the world, spanning 36,289 kilometers. Forbes Welcome. Government, Economy, Demographics, Education. Philippines, The: Economy. With their tropical climate, heavy rainfall, and naturally fertile volcanic soil, the Philippines have a strong agricultural sector, which employs over a third of the population.
Sugarcane, coconuts, rice, corn, bananas, cassava, pineapples, and mangoes are the most important crops, and tobacco and coffee are also grown. Carabao (water buffalo), pigs, chickens, goats, and ducks are widely raised, and there is dairy farming. Fishing is a common occupation; the Sulu Archipelago is noted for its pearls and mother-of-pearl. Philippine economy grows fastest in Asia. The Philippine economy expanded 7.1 percent in the first three months in office of President Duterte on the back of robust public infrastructure spending and private construction, and growth in agriculture.
An upbeat consumer spending, encouraged by low inflation and low interest rates, also drove the expansion during the July-September period of the gross domestic product (GDP) that made the Philippines the fastest growing economy in the region. GDP is the total value of goods produced and services rendered in a given period. Ano Ang Ekonomiks? Ang Ekonomiya ng Pilipinas, Noon at Ngayon. Ekonomiks at Ekonomiya.