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This is an accepted version of this page This is the latest accepted revision, reviewed on 21 January 2025. Economy of Philippines Metro Manila, the economic center of the Philippines Currency Philippine peso (sign: ₱; code: PHP) Fiscal year Calendar year Trade organizations ADB, AIIB, AFTA, APEC, ASEAN, EAS, G-24, RCEP, WTO and others Country group Developing/Emerging Lower-middle income ...
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 ]
Those employed in the coconut industry tended to be less educated and older than the average person in the rural labor force and earned lower-than-average incomes. [9] There are 3.6 million kilometres dedicated to coconut production in the Philippines, which accounts for 25 per cent of total agricultural land in the country. [8]
Average annual growth for 1980-85 declined to a mere 0.9 percent, as contrasted with 4.6 percent for the preceding fifteen years. Growth of value added in the rice industry also fell in the 1980s. Tropical storms and droughts, the general economic downturn of the 1980s, and the 1983-85 economic crisis all contributed to this decline.
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 automobile industry in the Philippines has struggled due to the COVID-19 pandemic. Even before the pandemic, sales were greatly affected due to the 2020 Taal Volcano eruption. Although sales are recovering, the local automobile industry's monthly average sales performance is still way below the figures.
Concurrently, the labor force of the Philippines grew at an average 10.47 percent in 1970–1983. [61] This can be attributed to an increasing number of women seeking work in the market. Income inequality grew during the era of martial law, as the poorest 60 percent of the nation were able to contribute only 22.5 percent of the income in 1980 ...
This is a list of regions and highly urbanized cities of the Philippines by GDP and GDP per capita according to the data by the Philippine Statistics Authority. [ 1 ] [ 2 ] Data for 2023 estimates (international US$ using 2023 PPP conversion factor from the International Monetary Fund ).