Philippine Economy
Philippines Economics
Table of contents
1. General Information
2. Agrarian Economy
3. Industrial Economy
4. Services Industries
5. Conclusion
1. General information
The Philippines are located in Southeast Asia in the Western Pacific Ocean. 7,107 Islands are part of the republic. The islands are divided into three major groups: Luzon, Visayas, and Mindanao. The South China Sea defines its western borders and the Pacific Ocean its eastern limits. The country- Area covers 300,000 sq. km. The Philippines’ neighbouring countries include Taiwan, Hong Kong, China, Japan, Singapore, Malaysia, Vietnam; and Indonesia in the south (Universitet Gen, 2010). The population in 2012 was 103,775,002 (world population review, 2013). The Philippines is a representative republic, where the president takes the role of the head of state and government as well as the commander-in-chief of the armed forces (SEA Economic IBSN). The current president of the Philippines as the follower of Gloria Macapagal Arroyo is Benigno Aquino (BBC, 2013). The president is elected by popular vote every 6 years. The country is a democratic and republican state with the three branches of government executive, legislative and judicial.
The Philippines are more over divided into 16 regions, where one of them is an autonomous region – the Autonomous Region of Muslim Mindanao (ARMM). In Manila the seat of power is settled (Universitet Gent, 2010).
The GDP of the Philippines in 2010 was $382.5 billion with a growths rate of 7.6% caused by consumer demand, a rebound in exports and investments, and election-related spending. In 2011 there was a 3.9% decrease and an increase in 2012 to $416.7 billion, which is a growth of 4,8%. The economic growth had an average of 4,5% during the time frame of 2001 and 2010 when Macapagal Arroyo used to be president (CIA World Factbook, 2013).
Unfortunately the unemployment rate in the Philippines is with a number of 11,4% twice as
Table of contents
1. General Information
2. Agrarian Economy
3. Industrial Economy
4. Services Industries
5. Conclusion
1. General information
The Philippines are located in Southeast Asia in the Western Pacific Ocean. 7,107 Islands are part of the republic. The islands are divided into three major groups: Luzon, Visayas, and Mindanao. The South China Sea defines its western borders and the Pacific Ocean its eastern limits. The country- Area covers 300,000 sq. km. The Philippines’ neighbouring countries include Taiwan, Hong Kong, China, Japan, Singapore, Malaysia, Vietnam; and Indonesia in the south (Universitet Gen, 2010). The population in 2012 was 103,775,002 (world population review, 2013). The Philippines is a representative republic, where the president takes the role of the head of state and government as well as the commander-in-chief of the armed forces (SEA Economic IBSN). The current president of the Philippines as the follower of Gloria Macapagal Arroyo is Benigno Aquino (BBC, 2013). The president is elected by popular vote every 6 years. The country is a democratic and republican state with the three branches of government executive, legislative and judicial.
The Philippines are more over divided into 16 regions, where one of them is an autonomous region – the Autonomous Region of Muslim Mindanao (ARMM). In Manila the seat of power is settled (Universitet Gent, 2010).
The GDP of the Philippines in 2010 was $382.5 billion with a growths rate of 7.6% caused by consumer demand, a rebound in exports and investments, and election-related spending. In 2011 there was a 3.9% decrease and an increase in 2012 to $416.7 billion, which is a growth of 4,8%. The economic growth had an average of 4,5% during the time frame of 2001 and 2010 when Macapagal Arroyo used to be president (CIA World Factbook, 2013).
Unfortunately the unemployment rate in the Philippines is with a number of 11,4% twice as