News & Events

NEDA Reports Positive Growth in Philippine Economy

One of the signs that gauge how well a country is doing is its exports growth.  To date, the exports growth of the Philippines is quite impressive.  According to the national Economic Development Authority (NEDA), Philippine exports for the first eight months of 2012 grew by 5.4%.

Before, the Philippine economy is more focused on agriculture but in recent times, it has shifted from agriculture to services and manufacturing.  To date, among the strongest economic activities in the country is business process outsourcing or BPO.  Food processing, textiles, garments and manufacturing are also part of the list.  

At this rate, business in the Philippines is very promising.  According to the 2011 World Bank statistics, the Philippine economy is the 43rd largest in the world.  It was also one of the few economies that reported positive economic growth during the 2008-2009 recession.