Support our Sponsor

. . Flags of the World Maps of All Countries

  • |Main Index|
  • 2002 INDEX
  • Country Ranks
  • DEFINITIONS
  • geographic.org Home PageCountry Index

    Philippines Economy - 2002
    http://www.greekorthodoxchurch.org/wfb2002/philippines/philippines_economy.html
    SOURCE: 2002 CIA WORLD FACTBOOK

      Economy - overview In 1998 the Philippine economy - a mixture of agriculture, light industry, and supporting services - deteriorated as a result of spillover from the Asian financial crisis and poor weather conditions. Growth fell to 0.6% in 1998 from 5% in 1997, but recovered to about 3% in 1999 and 4% in 2000. The government has promised to continue its economic reforms to help the Philippines match the pace of development in the newly industrialized countries of East Asia. The strategy includes improving infrastructure, overhauling the tax system to bolster government revenues, furthering deregulation and privatization of the economy, and increasing trade integration with the region. Prospects for 2002 depend heavily on the economic performance of two major trading partners, the US and Japan.

      GDP purchasing power parity - $335 billion (2001 est.)

      GDP - real growth rate 2.8% (2001 est.)

      GDP - per capita purchasing power parity - $4,000 (2001 est.)

      GDP - composition by sector
      agriculture: 17%
      industry: 30%
      services: 53% (2000 est.)

      Population below poverty line 40% (2001 est.)

      Household income or consumption by percentage share
      lowest 10%: 1.5%
      highest 10%: 39.3% (1998)

      Distribution of family income - Gini index 46.2 (1997)

      Inflation rate (consumer prices) 6% (2001 est.)

      Labor force 32 million (2000)

      Labor force - by occupation agriculture 39.8%, government and social services 19.4%, services 17.7%, manufacturing 9.8%, construction 5.8%, other 7.5% (1998 est.)

      Unemployment rate 10% (2001)

      Budget
      revenues: $10.9 billion
      expenditures: $13.8 billion, including capital expenditures of $NA (2001 est.)

      Industries textiles, pharmaceuticals, chemicals, wood products, food processing, electronics assembly, petroleum refining, fishing

      Industrial production growth rate 4% (2000 est.)

      Electricity - production 40.667 billion kWh (2000)

      Electricity - production by source
      fossil fuel: 57.57%
      hydro: 19.85%
      other: 22.58% (2000)
      nuclear: 0%

      Electricity - consumption 37.82 billion kWh (2000)

      Electricity - exports 0 kWh (2000)

      Electricity - imports 0 kWh (2000)

      Agriculture - products rice, coconuts, corn, sugarcane, bananas, pineapples, mangoes; pork, eggs, beef; fish

      Exports $37 billion (f.o.b., 2000)

      Exports - commodities electronic equipment, machinery and transport equipment, garments, coconut products

      Exports - partners US 30%, Japan 15%, Netherlands 8%, Singapore 8%, Taiwan 8%, Hong Kong 5% (2000)

      Imports $30 billion (f.o.b., 2000)

      Imports - commodities raw materials and intermediate goods, capital goods, consumer goods, fuels

      Imports - partners Japan 19%, US 16%, EU 9%, South Korea 8%, Singapore 6%, Taiwan 6% (2000)

      Debt - external $50 billion (2001)

      Economic aid - recipient ODA, $1.1 billion (1998)

      Currency Philippine peso (PHP)

      Currency code PHP

      Exchange rates Philippine pesos per US dollar - 51.201 (January 2002), 50.993 (2001), 44.192 (2000), 39.089 (1999), 40.893 (1998), 29.471 (1997)

      Fiscal year calendar year

      NOTE: The information regarding Philippines on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Philippines Economy 2002 information contained here. All suggestions for corrections of any errors about Philippines Economy 2002 should be addressed to the CIA.

    Support Our Sponsor

    Support Our Sponsor

    Please ADD this page to your FAVORITES - - - - -


    Language Translation Services - All Languages


    http://www.photius.com/wfb2002/philippines/philippines_economy.html

    Revised 30-Jan-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


    CTR030130