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Philippine GDP grew barely 1% in 2009 but the economy weathered the 2008-09 global recession better than its regional peers due to minimal exposure to securities issued by troubled global financial institutions; lower dependence on exports; relatively resilient domestic consumption, supported by large remittances from four-to five-million overseas Filipino workers; and a growing business process outsourcing industry. Economic growth in the Philippines has averaged 4.5% per year since 2001, when President MACAPAGAL-ARROYO took office. Despite this growth, poverty worsened during the term of MACAPAGAL-ARROYO, becau...  More..

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Economy of Philippines
SOURCE: CIA - The World Factbook
Currency Peso
Fiscal Year 01 January - 31 December
GDP (PPP) $324.8 billion (2009 est.)
GDP (per capita) $3,300 (2009 est.)
Exports $37.2 billion (2009 est.)
Imports $45.8 billion (2009 est.)
Main Industries Electronics Assembly, Garments, Footwear, Pharmaceuticals, Chemicals, Wood Products, Food Processing, Petroleum Refining, Fishing
Exports - Commodities Semiconductors and Electronic Products, Transport Equipment, Garments, Copper Products, Petroleum Products, Coconut Oil, Fruits
Imports - Commodities Electronic Products, Mineral Fuels, Machinery and Transport Equipment, Iron and Steel, Textile Fabrics, Grains, Chemicals, Plastic
Exports Partners US 17.6%, Japan 16.2%, Netherlands 9.8%, Hong Kong 8.6%, China 7.7%, Germany 6.5%, Singapore 6.2%, South Korea 4.8% (2009 est.)
Imports Partners Japan 12.5%, US 12%, China 8.8%, Singapore 8.7%, South Korea 7.9%, Taiwan 7.1%, Thailand 5.7% (2009 est.)

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