|Office machine parts|
|Planes, Helicopters and Space crafts|
As a developing country with a GDP (Gross Domestic Product) growth rate of 6.7% (2017), Philippines is consisted of 7,641 islands, categorized into three main geographical divisions from north to south, which are Luzon, Visayas, and Mindanao, surrounded by the South China Sea, the Philippine Sea, and the Celebes Sea. It shares maritime borders with Taiwan, Japan, Vietnam, Palau, Malaysia, and Indonesia. Manila is the capital, and Quezon is the most populous city.
Philippines is the world's 5th-largest island country with an area of 300,000km2, and the 8th-most populated country in Asia with a population of 105 million (2017y). And its economy is 34th-largest in the world, with an estimated GDP of USD 313.6 billion (2017y).
Religion: It is an officially secular state, although Christianity is the dominant faith, 80.58% of the population professed Catholicism. And 5.57% practices Islam, small portion follows Buddhism or local religions.
Culture: Philippine culture is a blend of eastern and western societies. The Philippines shows aspects found in other Asian nations with a Malay heritage, yet its way of life likewise shows a notable number of Spanish and American influences. The Ati-Atihan, Moriones, and Sinulog festivals are two or three the most renowned. Traditional festivities known as barrio fiestas to celebrate the festival days of patron saints are common, and these celebrations are times for music, feasting, and dancing.
Places to visit: Travel and tourism sector is a major contributor to its economy, contributing 10.6% to Philippines’ GDP in 2015. Besides beautiful islands, there are beaches, hills, and caves. Boracay, Mactan, Malapascua are some of the famous beaches; Siargao and Panglao Island are among the most visited islands with millions of visitors every year.
A newly industrialized country, Philippine’s economy has been transforming from one based upon agriculture to one with importance upon services and manufacturing.
The financial sector grew by 9.1 % in the first quarter of 2016. Contribution of banking and non-banking financial institutions grew by 10.1% and 6.6%, respectively.
The banking industry of the Philippines has played a very critical role in sustaining the growth of the country’s economy. There are 632 banking institutions, according to the 2012 census, and 6,961 establishments that are engaged in financial and insurance activities, with 73.7% of which offering other financial services.
Bangko Sentral ng Pilipinas (BSP) is the independent central monetary authority of the Philippines that has regulatory and supervisory power over banks and non-bank financial institutions. The BSP supervises the nation's banking system. Local banks are working on enhancing their risk management and IT systems to be more competitive. It is predicted to become the 16th largest economy by 2050.
|Agriculture||Coconut, pineapple, rice, vegetables, milk & sugarcane crops.|
|Manufacture||Electronic components, ships, aerospace and automotive|
|Services (Including financial)||58.8% (2013 estimate)|
|SM Investments Corporation||Finance|
|Philippine Long Distance Telephone Company (PLDT)||Telecomunication|
|SM Prime Holdings, Inc.||Conglomerates|
|Ayala Land, Inc.||Agriculture|
|JG Summit Holdings, Inc.||Conglomerates|
|Universal Robina Corporation||Consumer Goods|
|Bank of the Philippine Islands (BPI)||Banking|
|Aboitiz Power Corporation||Finance|
|Office machine parts|
|Planes, Helicopters and Space crafts|
Philippine Stock Exchange, the national stock exchange, is the oldest stock exchange in Asia. The exchange established its origin in 1992 from the merger of Manila Stock exchange (MSE) and Makati Stock Exchange (MKSE), and it has been in continuous development since the establishment of the Manila Stock Exchange in 1927. It currently maintains a trading platform in the PSE Tower, in Bonifacio Global City, Taguig City.
Philippine Stock Exchange Composite Index (PSEi) is an essential stock market index, which is composed of a fixed basket of 30 listed companies. The PSEi measures the relevant changes in the free float-adjusted market capitalization of the 30 largest and most active common stocks listed at the PSE.
In 1996, PSE was granted by the SEC (Securities and Exchange Commission), temporarily, the status of a Self-Regulatory Organization (SRO). The Communication Front-End System went online, presenting a gateway that allowed PSE member brokers to directly connect their personal private trading systems to the MakTrade System. On July 26, 2010, PSE launched its new trading system, PSEtrade, replacing the MakTrade system. Currently, PSE uses a new trading system called PSEtrade XTS.
Philippines's Market Capitalization accounted for 92.7 % of its nominal GDP in Dec 2018 with 253.59 Billion USD. In the first half of 2019 it was ₱ 14.69 trillion. The most valuable stocks of Philippines are:
Political and economic crisis1973-1986: President Ferdinand E. Marcos declared martial law amid growing student movements and a rising number of socialist groups requesting for reformations in their respective sectors. There was massive lending from commercial banks, accounting for about 62% of external debt.
During that time, Philippine was one of the heaviest borrowers, and its economy was experiencing one of its worst years when the severe advancements of the third quarter complicated the problems. And for the first time during the post-war period, there was a likelihood of negative growth.
The exchange rate of peso was affected as well. The measures that were undertaken by the government to restore financial and economic stability were painful and included a severe cut back in government spending.
In 1984, the negotiations with IMF (International Monetary Fund) and other financial institutions regarding terms of restructuring of external debt of Philippines were delayed. And by end of 1984, the reform package was to be implemented.
During 1986-1989, the economy was recovered with growth in GDP at an average rate of 5.1%. Consumption and investments grew steadily, and inflation remained controlled at an average of 4.5%. Poverty reduced from 59% to 49% of all households. Debt repayments was postponed to 1992, and about $1.6 billion of the debt was withdrawn, which led to a drop in the external debt by about 17 percent of GNP.
2000 to Present Time: VP Gloria Macapagal-Arroyo (daughter of the late President Diosdado Macapagal) was confirmed as Estrada's successor upon the arrival of his flight. Her ascending to power was additionally legitimated by the mid-term congressional and local elections, when her alliance later won an immense triumph. However, the races were full of charges of pressure, misrepresentation, and vote-buying.
Macapagal-Arroyo's underlying term in office was set apart by peevish alliance legislative issues just as a military uprising in Manila in July 2003, which drove her to announce a month-long across the country condition of disobedience, because of which charges were recorded against more than 1,000 people. Macapagal-Arroyo had pronounced in December 2002 that she would not challenge the May 2004 presidential political decision, yet she turned around herself in October 2003 and chose to run. She was re-elected and sworn in for her six-year term as president on June 30, 2004. With this new order, she had the option to move with more prominent confirmation on the political and financial change plan that had slowed down during her first term in office.
May 14, 2007 - National Elections for Senators, Congressmen, Governors, Mayors, and local officials. Although there are instances of violence and allegations of cheating, especially in Mindanao, this election is considered by many as one of the most peaceful elections conducted in the Philippines.
Beginnings of the Archipelago: Some 50 million years ago, the archipelago was developed by volcanic eruptions. About 30,000 years ago, the earliest inhabitants arrived from the Asian mainland, perhaps over land bridges built during ice ages. In 1380, Muslim Arabs arrived at the Sulu Archipelago and founded hamlets that became mini-states ruled by a Datu. Introduction to Islam in the southern parts of the archipelago led to the rule of the Muslim sultans of Borneo. They had a significant impact all over the region for a couple of hundred years and remained dominant until the 16th century.
Spanish Colonial period 1521-1898: In 1521, Ferdinand Magellan, a Portuguese explorer who was obeying the Spanish crown, landed in Samar Island on his voyage to encompass the globe.
He traversed the islands and named it Archipelago of San Lazaro. Magellan was killed during a rebellion led by a Datu named Lapu Lapu in Mactan Island. Spain continued to send expeditions to the island for financial gain, and on the fourth expedition, Commander Ruy Lopez de Villalobos, named the islands: the Philippines, after Prince Philip, the successor to the Spanish throne. Spain ruled the Philippines for 356 years. The Spanish Philippines was actually dominated by the government of Spanish North America prior to Mexican independence in 1810. Throughout the Spanish colonial era, the people of the Philippines performed a number of revolts.
The final, successful revolt began in 1896 and was blemished by the implementations of Filipino national hero Jose Rizal (by the Spanish) and Andres Bonifacio. The Philippines declared its independence from Spain on June 12, 1898. However, the Filipino revolutionaries did not defeat Spain without help; the United States navy under Admiral George Dewey actually had demolished Spanish naval power in the area in the May 1 battle of Manila Bay.
The Philippine Republic: In the same year, William Howard Taft was elected to be the first U.S. governor of the Philippines. The U.S. passed the Jones Law in 1916, establishing an elected Filipino parliament with a House of Representatives & Senate. In 1934, the Tydings-McDuffie Act was passed by the U.S. Congress, established the Commonwealth of the Philippines and promised Philippine independence by 1946. The law also provided for the position of President of the Commonwealth of the Philippines. On the May 14, 1935 elections, Manuel L. Quezon won the seat of President of the Philippine Commonwealth.
Following the Tydings-McDuffie Act of 1934, Philippines was given independence on July 4, 1946 and the Republic of the Philippines was born.
The Philippine peso also referred to as the Filipino name peso, is the official currency of the country. It is denoted by the symbol “₱”. Banknotes and coins are minted and printed at the Security Plant Complex of the Central Bank of the Philippine in Quezon City. The denominations of coins are 1,5,10,25 centavo and 1,5,10,20 peso. The denominations of Banknotes are 20,50,100,200,500 and 1000 peso.
Pre-Hispanic Era: Long before the arrival of Spaniards in the Philippines @1521y, the Filipinos had established trade relations with neighboring lands like China, Java, Borneo, Thailand, and other hamlets. They used the barter system for trading. Later, due to the inconvenience of the barter system, they introduced cowry shells as the medium of exchange. Cowries were available in gold, jade, quartz, and wood became the most common and acceptable form of money through many centuries. Barter rings made from pure gold were hand-crafted by early Filipinos during the 11th and 14th centuries.
Spanish Era 1521-1897: The Galleons from Mexico and other Spanish colonies brought cobs or macuquinas coins of colonial mints. These silver coins usually displayed a cross on one side and the Spanish royal coat-of-arms on the other.
Spanish dos Mundos circulated extensively not only in Philippines but the World over from 1732-1772. Due to a shortage of fractional coins, the barrillas remained struck in Philippines by the order of the Spanish government. These were the first crude copper or bronze coins locally produced in the Philippines. The Filipino term "barya", referring to small change, had its origin in barrilla. The pesos Fuertes, issued by the country's first bank, the El Banco Espanol Filipino de Isabel II, were the first paper money circulated in the Philippines.
Revolutionary Period 1898-1899: The first Philippine president, General Emilio Aguinaldo had the authority to create monetary standards under the Malolos Constitution of 1898. At the Malolos stockpile, two sorts of two-centavo copper coins came to be discovered. Progressive banknotes were printed in groups of 1,5 and 10 pesos. These were hand-signed by Pedro Paterno, Mariano Limjap, and Telesforo Chuidian. With the surrender of General Aguinaldo to the Americans, the monetary forms were pulled back from the course and announced unlawful money.
American Period 1900-1941: After arrival of the Americans in 1898, modern banking, currency, and credit systems were instituted, making Philippines one of the wealthiest countries in East Asia. Its financial system was based on gold and tightened the Philippine peso to the American dollar at the ratio of 2:1. The US Congress approved the Coinage Act for Philippines in 1903. Coins were printed in the denomination of one-half centavo to one peso. Beginning May 1918, treasury certificates replaced the silver certificates series, and a one-peso note was added.
The Japanese Occupation 1942-1945: The outbreak of World War II had severe consequences on the Philippine monetary system. During this period, two kinds of notes circulated in the country. The Japanese Occupation Forces issued war notes in big denominations. Provinces and other settlements, on the other hand, issued their currencies, which was later sanctioned by the government in exile and partially redeemed after the war.
The Philippine Republic: Having gained independence from the United States following the end of World War II, the country used as currency old treasury certificates overprinted with the word "Victory".
The Central Bank of the Philippines was established in 1949, leading to the reintroduction of a formal Filipino Currency. A new surge of change swept through the Philippine coinage system with the flora and fauna coins initially issued in 1983. The new design series of banknotes issued in 1985 replaced the ABL series.
After ten years, another arrangement of coins and notes were given conveying the logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines).
|National Song||"Lupang Hinirang"|
|Currency||Philippine peso (PHP)|
|GDP||805.227 Billion USD|
|GDP Growth Rate||5.8 Percent|
|GDP Per Capita||$7728.072 (PPP)|
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Jews
< 1.0% Other Religions
President – Rodrigo Duterte
|Website||Go to the web|
|Public Debt||33.709 Percent|
|Unemployment Rate||5.876 Percent|
|Labor Force (Occupation)||-|