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The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
The history of the Philippines dates from the earliest hominin activity in the archipelago at least by 709,000 years ago. [1] Homo luzonensis, a species of archaic humans, was present on the island of Luzon [2] [3] at least by 134,000 years ago. [4] The earliest known anatomically modern human was from Tabon Caves in Palawan dating about 47,000 ...
This period also saw the end of the petro-dollar glut which had fueled low interest rates, and international financing institutions began tightening credit, forcing the government to resort to short-term loans with higher interest rates just to service its debts and to import goods. [1] The Philippines’ debt went up to more than 200 percent ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
The National Historical Commission of the Philippines is a government agency of the Philippines whose mission is "the promotion of Philippine history and cultural heritage through research, dissemination, conservation, sites management and heraldry works and aims to inculcate awareness and appreciation of the noble deeds and ideals of our ...
Although the Philippines had been prohibited from trading with nations other than Spain, the demand led Spain, under Governor-General José Basco, to open the ports to international trade as both as a source of raw materials and as a market for manufactured goods. Following the opening of Philippine ports to world trade in 1834, [76] shifts ...
A relatively unknown chapter of Philippine numismatics is the importation and usage of bronze Chinese cash in Philippine markets. Like other Southeast Asian ports, the Chinese coinage flooded trading ports in the Philippine Islands starting as early as the 13th century and continuing into the Qing Dynasty period.
The earliest recorded History of Manila, the capital of the Philippines, dates back to the year 900 AD, as documented in the Laguna Copperplate Inscription.By the thirteenth century, the city consisted of a fortified settlement and trading quarter near the mouth of the Pasig River, which bisects the city into the north and south.