Search results
Results from the WOW.Com Content Network
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
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]
The Philippines' Bureau of Agriculture and Fisheries Product Standards (Filipino: Kawanihan ng mga Pamantayan sa Produktong Pansaka at Pampangisdaan, abbreviated as BAFS), is an agency of the Philippine government under the Department of Agriculture responsible for setting and implementing standards for fresh primary and secondary processed agricultural and fishery products.
The Philippines was affected by the crisis in a decline in three aspects: exports, remittances from overseas Filipino workers, and foreign direct investments. Heavily dependent on electronic and semiconductor exports, the Philippines saw a downward trend in its export earnings as countries in demand of these exports entered recession.
The Calamba Sugar Central sugar mill on Luzon in 1929 Central Aucarera de La Carlota (a sugar mill). Sugar became the most important [according to whom?] agricultural export of the Philippines between the late eighteenth century and the mid-1970s because of two main reasons: 1) foreign exchange earned and 2) it was the basis of wealth accumulation of some Filipino elite at that time.
The Philippine economy took a big hit during the 1973 oil crisis, but the commodities boom kept the economy afloat. [7] Manufactured exports became a significant growth area, growing at twice the rate of the agricultural exports which had been the Philippines’ traditional export products. [15]
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.
The Philippine Economic Zone Authority (PEZA), formerly known as the Foreign Trade Zone Authority (FTZA) and Export Processing Zone Authority (EPZA), is a Philippine government agency attached to the Department of Trade and Industry.