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The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
The rise of shopping malls and supermarkets have also been cited as threats to the old-school public markets. In a 2002 article, the president of the National Federation of Market Vendors Cooperatives, a cooperative of market vendors throughout the country, stated that the concept of the palengke was an integral part of Philippine culture.
This is a timeline of Philippine history, comprising important legal and territorial changes and political events in the Philippines and its predecessor states. To read about the background to these events, see history of the Philippines .
The Philippines' exports income had begun growing in the early 1970s due to an increased global demand for raw materials, including coconut and sugar, [1] [15] and the increase in global market prices for these commodities coincided with the declaration of martial law, allowing GDP growth to peak at nearly 9 percent in the years immediately ...
According to World Bank data, the Philippines' gross domestic product (GDP) quadrupled from $8 billion in 1972 to $32.45 billion in 1980, for an inflation-adjusted average growth rate of 6% per year. [40] Indeed, according to the U.S.-based Heritage Foundation, the Philippines enjoyed its best economic development since 1945 between 1972 and 1980.
The history of the Philippines from 1565 to 1898 is known as the Spanish colonial period, during which the Philippine Islands were ruled as the Captaincy General of the Philippines within the Spanish East Indies, initially under the Viceroyalty of New Spain, based in Mexico City, until the independence of the Mexican Empire from Spain in 1821.
La Paz has been operated its own market even before its conglomeration with Iloilo City in 1937. The current La Paz Public Market traces its origins to the early 1920s, evolving from a reclaimed fishpond filled with dredged materials from the Iloilo River, as documented in the Quarterly Bulletin of the Bureau of Public Works in 1918.
The history of the Philippines dates from the earliest hominin activity in the archipelago at least by 709,000 years ago. [1] Homo luzonensis, a species of archaic humans, was present on the island of Luzon [2] [3] at least by 134,000 years ago. [4] The earliest known anatomically modern human was from Tabon Caves in Palawan dating about 47,000 ...