Despite gloomy global trade forecasts, the Philippines’ strong macroeconomic fundamentals, competitive geographical and labour force advantages, and rising domestic consumption bode well for future trade and investment.
Philippines Industry
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Chapter | Industry & Retail from The Report: The Philippines 2016
Growing an impressive 7.2%, the Philippines was one of Asia’s best-performing economies in 2013. As growth has given rise to increased business activity and boosted consumer spending power, the question that arises is whether this new-found domestic demand will be for goods and materials produced locally or imported from abroad. This is an issue that will become even more important in 2015 as...
A series of reforms initiated by the administration of President Benigno Aquino III in the last few years have boosted spending on infrastructure and opened key industries to outside investors. The reforms prompted a series of upgrades to the Philippines’ credit ratings and echo initiatives taken in the region as it embarks on greater integration through the ASEAN Economic Community.
The Philippine economy is gradually on the rise, largely driven by its business process outsourcing, industry and construction sectors. The average pace of growth in the Philippines in the first half of the decade was 6.3%, compared to 6% in Indonesia, 5.8% in Malaysia and Vietnam, and 3.6% in Thailand.
The Philippines boasts some of the world’s vastest precious metals reserves, valued at around $840bn at 2010 prices. In 2013 the Philippines was tied with Indonesia as the largest nickel producer in the world, producing some 440,000 tonnes each. The country’s vast and largely untapped mining potential will continue to draw strong interest from foreign and domestic actors despite decreasing...
Chapter | Industry & Retail from The Report: The Philippines 2015
The administration of Benigno Aquino III aspires to achieve inclusive, broad-based growth, a goal which necessitates a strong manufacturing base that presents employment prospects for skilled, semi-skilled and low-skilled workers. The country’s demographic dividend, attractive workforce, projected economic growth and the continued improvement of its business environment are combining to...
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