OVERVIEW: PHILIPPINE ECONOMY
Philippines economy expanded by 4.9% in 2005, compared to 5.8% in the year 2004. Per capita GNP of a Philippine has been experiencing a continuous increase and has reached $832.5. Savings rate remains at a high of 27.63%, which has been a favourable point for the economy. Unemployment remains a concern, as it hovers around 11.4% of the total labour
force.
FOREIGN TRADE: EXPORTS & IMPORTS
Growth in exports has helped the Philippine economy to remain buoyant. Exports of goods and services grew by 4% to touch $40 billion in 2005 (almost 41% of GDP). Imports burgeoned to $47.77 billion in 2005, a growth of 7% over 2004. Exports and imports in 2004 stood at $38.79 billion and $44.48 billion, respectively. Major trading partners include US, China, Singapore and Netherlands.
For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
Philippines economy expanded by 4.9% in 2005, compared to 5.8% in the year 2004. Per capita GNP of a Philippine has been experiencing a continuous increase and has reached $832.5. Savings rate remains at a high of 27.63%, which has been a favourable point for the economy. Unemployment remains a concern, as it hovers around 11.4% of the total labour
force.
FOREIGN TRADE: EXPORTS & IMPORTS
Growth in exports has helped the Philippine economy to remain buoyant. Exports of goods and services grew by 4% to touch $40 billion in 2005 (almost 41% of GDP). Imports burgeoned to $47.77 billion in 2005, a growth of 7% over 2004. Exports and imports in 2004 stood at $38.79 billion and $44.48 billion, respectively. Major trading partners include US, China, Singapore and Netherlands.
For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
