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Economy of the Philippines. All values, unless otherwise stated, are in US dollars. The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [ 31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest ...
Agriculture in the Philippines is a major sector of the economy, ranking third among the sectors in 2022 behind only Services and Industry. Its outputs include staples like rice and corn, but also export crops such as coffee, cavendish banana, pineapple and pineapple products, coconut, sugar, and mango. [ 1]
Manufactured exports became a significant growth area, growing at twice the rate of the agricultural exports which had been the Philippines’ traditional export products. [10] The Marcos administration continued its strategy of relying on international loans to fund the projects that would support the booming economy, prompting later ...
The traditional economic mainstay of the Philippine ruling elite has been export agriculture. Development strategy in the Marcos era continued to rely on this sector as a major source of income and foreign exchange, between 1962 and 1985, export crop acreage more than doubled.
On July 31, 2022, the Philippines produced 1,792,102 metric tons of raw sugar and 737,254 metric tons of refined sugar, marking decreases of 16.18% and 2.84%, respectively, compared to the previous year. The projected raw sugar production for the crop year 2021-2022 was 1.80 million metric tons, a 16% drop from the previous year’s 2,143,018 ...
Coffee is an important agricultural product in the Philippines, and is one of the Philippines' most important export products [1] aside from being in high demand in the country's local consumer market. [2] The Philippines is one of the few countries that produce the four main viable coffee varieties; Arabica, Liberica , Excelsa and Robusta.
Export-oriented industrialization ( EOI ), sometimes called export substitution industrialization ( ESI ), export-led industrialization ( ELI ), or export-led growth, is a trade and economic policy aiming to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage.
In the Philippines, rice production is an important aspect of the country's food supply and economy. The Philippines is the 8th-largest rice producer in the world, accounting for 2.8% of global rice production. [1] The Philippines was also the world's largest rice importer in 2010.