The Philippines is a newly industrialized economy with exports and services as key drivers of growth. The services sector accounts for 50% of GDP, followed by industry at 33% and agriculture at 17%. The economy relies on industries like business process outsourcing, food processing, and electronics manufacturing. Recent government plans aim to improve competitiveness through reducing barriers to business, raising productivity, and developing infrastructure.
The Philippines is a newly industrialized economy with exports and services as key drivers of growth. The services sector accounts for 50% of GDP, followed by industry at 33% and agriculture at 17%. The economy relies on industries like business process outsourcing, food processing, and electronics manufacturing. Recent government plans aim to improve competitiveness through reducing barriers to business, raising productivity, and developing infrastructure.
The Philippines is a newly industrialized economy with exports and services as key drivers of growth. The services sector accounts for 50% of GDP, followed by industry at 33% and agriculture at 17%. The economy relies on industries like business process outsourcing, food processing, and electronics manufacturing. Recent government plans aim to improve competitiveness through reducing barriers to business, raising productivity, and developing infrastructure.
A newly industrialized emerging market economy, with exports as its key driver of growth Countrys y GDP, , the fifth largest g in Southeast Asia, , is accounted for by: Services sector (50%) Industry (33%) Agriculture (17%) Endowed with rich and diverse natural resources that provide opportunities for tourism, mining, agriculture, biofuels and renewable energy. Key economic activities include business process outsourcing (BPO), food processing, textiles and garments, and assembly operations in the manufacturing of electronics and other high-tech components.