Philippines Economy

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Patricia S


Date added:

February 25, 2015







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2 / 464


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Rice remains the most important agricultural product. In order to increase the economic growth of the country, the Filipinos rely on major products such as coconuts (copra and coconut oil), abaca (Manila hemp), tobacco, and sugar for export purposes. The island republic is, however, diversifying from agricultural and mineral product exports into higher value manufactured and luxury goods such as electronics, apparel and clothing accessories as well as computer-related products...
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During the mid-90's, 46 percent of the work force was comprised of those in agriculture, fishing and forestry. These areas also contributed over 20 percent to the GDP. The service industry comprised almost 40 percent with manufacturing, construction and mining employing 15 percent. As a newly industrialized nation, the Philippines is still an economy with a large agricultural sector, however services are beginning to dominate...
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