Tag Archives: Philippines

According to allcountrylist, the economy of the Philippines is mainly driven by the services sector, which accounts for around 57% of the country’s GDP. This sector includes banking and finance, shipping, tourism and other related activities. The manufacturing sector is also an important contributor to the economy, accounting for around 23%. This sector includes food processing and light manufacturing such as furniture and clothing. Agriculture is another important economic activity in the Philippines and it contributes around 11% to total GDP. This sector produces crops such as rice, corn, coconuts, bananas and pineapple as well as livestock products such as beef and dairy products. Fishing is also an important source of income for many people in the Philippines as it provides seafood products to both local and international markets. The mining sector has seen some growth in recent years due to increased investment from foreign sources. This industry is mainly focused on extracting minerals such as copper, zinc, silver and gold from the country’s rich deposits. In addition to these sectors, the Philippines has also been making efforts towards diversifying its economy through the development of special economic zones (SEZ) which are designed to attract foreign investment into the country. These zones offer attractive incentives such as tax exemptions and preferential access to capital markets for businesses operating within them. This has helped attract investments from both domestic and international sources which have led to further economic growth in the Philippines. The government is also focusing on developing infrastructure projects such as roads, ports, airports and power plants in order to further improve connectivity between different regions of the country. Furthermore, there have been initiatives taken by private entities towards developing new industries such as IT-enabled services (ITES), business process outsourcing (BPO) and knowledge-based services (KBS). These sectors are expected to provide a major boost to employment opportunities within the country over time. The history of agriculture in the Philippines dates back to ancient times, when indigenous people were already cultivating crops such as rice, yams and bananas. Spanish colonizers introduced new crops such as maize, wheat and sugarcane in the 16th century. During the 19th century, agricultural production increased significantly with the introduction of coffee and rubber plantations. Today, agriculture remains an important sector in the Philippine economy, contributing around 10% of its GDP and employing around 30% of its population. The main crops grown are rice, corn, coconut and sugarcane with rice being by far the most important crop produced in terms of both volume and value. Other important crops include cassava, sweet potatoes and bananas. In recent years there has been a significant increase in organic farming practices as well as increased investment into research related to sustainable agriculture methods. The livestock sector is also significant and contributes significantly to both national income and employment levels. To improve productivity levels within this sector farmers have been provided with access to improved genetics as well as training on modern farming methods. There has also been a focus on improving access to markets for small-scale farmers so that they can maximize their profits from their produce. See smber for Philippines Agriculture and Fishing.