Having endured several challenging years marked by damaging typhoons, the Philippines’ agricultural industry made a spirited recovery in 2014, setting the scene for further growth this year across a host of segments.
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Maintaining a growth streak for six consecutive years, the Philippines Stock Exchange’s (PSE) momentum is expected to continue into 2015, thanks to projected gains from cheaper oil prices and a strong growth outlook among dimming prospects in the region.
Economic update | The Philippines Year in Review 2014
26 Dec 2014
Despite declining from the highs of 2013, the Philippines’ economy showed marked resilience in 2014, as it battled back from the impact of a devastating typhoon late last year to give a strong overall performance.
Unprecedented levels of Chinese demand for nickel ore has created a sizeable market opening for the Philippines to expand nickel exports, prompting the country to re-examine the underdeveloped minerals industry and maximise output amid a dearth of supplies in the region.
Urban transportation networks in the Philippines will benefit from millions of dollars in investment, following the announcement that Cebu City will be home to a new bus rapid transit (BRT) system. The network is expected to alleviate metro congestion and offer opportunities for private contractors and service providers.
Employment in the business process outsourcing (BPO) industry in the Philippines hit an all-time high in August, following a decade of phenomenal growth that has seen revenues and employment expand ten-fold since 2004.