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conventional long form: Republic
of the Philippines
conventional short form: Philippines
local long form: Republika ng Pilipinas
local short form: Pilipinas
Manila. Population: 9.9 million (2005
metropolitan area).
Description:
The Philippines lie off the southeast coast of Asia between
Taiwan and Borneo in the Pacific Ocean and South China Sea. They are
composed of 7,107 islands and islets (7,108 at low tide), 2,773 of
which are named. The two largest islands, Luzon in the north and
Mindanao in the south, account for 65% of the total land area and
contain 60% of the country’s population. Between the two lie the
Visayas Islands.
Southeastern Asia, archipelago between
the Philippine Sea and the South China Sea, east of Vietnam
300,000 sq km (115,831 sq miles).
91.1 million (CIA estimate 2007).
language:
Filipino, based on Tagalog, is the national language. English is
widely spoken, Spanish less so. There are over 111 cultural and racial
groups, each with its own language or dialect; up to 988 languages
have been recorded.
Climate:
Tropical climate tempered by constant sea breezes. There are three
distinct seasons: the rainy season (June to September), cool and dry
(October to February), and hot and mainly dry (March to May). Evenings
are cooler. Typhoons occasionally occur from June to September
Economy - overview:
The agricultural sector produces rice, corn, coconuts, copra,
sugar cane and bananas as the main crops. Production of timber,
formerly a major export earner, is suspended due to deforestation.
There is a modest mining industry and offshore oil. Most recent
economic development has been industrial.
Financial incentives to attract foreign capital and the creation of
export processing zones prompted strong growth during the early and
mid 1990s. However, it also produced a skewed economy in which the
Manila area hosts 15% of the population and accounts for one-third of
GDP.
Following a substantial slump in 1997, the economy has since
recovered. In 2006, growth was 5.4% and inflation slipped to 6.2%.
Unemployment was at 7.9%. Industrial production has picked up and
substantial foreign aid has helped the country's finances. As such,
the peso was East Asia's best performing currency in 2005-06.
The Philippines belong to the Association of South-East Asian Nations
and the Asian Development Bank.
Economy:
The agricultural sector produces rice, corn, coconuts, copra,
sugar cane and bananas as the main crops. Production of timber,
formerly a major export earner, is suspended due to deforestation.
There is a modest mining industry and offshore oil. Most recent
economic development has been industrial.
Financial incentives to attract foreign capital and the creation of
export processing zones prompted strong growth during the early and
mid 1990s. However, it also produced a skewed economy in which the
Manila area hosts 15% of the population and accounts for one-third of
GDP.
Following a substantial slump in 1997, the economy has since
recovered. In 2006, growth was 5.4% and inflation slipped to 6.2%.
Unemployment was at 7.9%. Industrial production has picked up and
substantial foreign aid has helped the country's finances. As such,
the peso was East Asia's best performing currency in 2005-06.
The Philippines belong to the Association of South-East Asian Nations
and the Asian Development Bank.
electronics assembly, textiles,
pharmaceuticals, chemicals, wood products, food processing,
petroleum refining, fishing
Exports:
Electrical equipment, transport equipment, garments, copper
products and petroleum products.
• Main trade partners: China (PR), Japan, USA, Singapore and Hong Kong
(SAR).
Imports:
Electronic products, raw materials, machinery and transport
equipment and fuels.
Exchange rates:
Philippine Peso (PHP; symbol Php) = 100 centavos. Notes are in
denominations of Php1,000, 500, 200, 100, 50, 20, 10 and 5. Coins are
in denominations of Php10, 5, 2 and 1, and 50, 25, 10 and 5 centavos
http://www.worldtravelguide.net
/country/225/money/South-East-Asia/Philippines.html
GDP :
US$116.9 billion (2006).
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