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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
The Philippines once a net exporter became an importer of rice as a result of the wars with the Spanish and later the Americans and by the reallocation of labour to export crops. [27] The 1930s would mark the end to this period of relative prosperity. The Sugar Act of 1934 capped Philippines sugar exports to the US at 921,000 tons per year.
The Philippine economy took a big hit during the 1973 oil crisis, but the commodities boom kept the economy afloat. [7] Manufactured exports became a significant growth area, growing at twice the rate of the agricultural exports which had been the Philippines’ traditional export products. [15]
Coffee is an important agricultural product in the Philippines, and is one of the Philippines' most important export products [1] aside from being in high demand in the country's local consumer market. [2] The Philippines is one of the few countries that produce the four main viable coffee varieties; Arabica, Liberica , Excelsa and Robusta.
The Calamba Sugar Central sugar mill on Luzon in 1929 Central Aucarera de La Carlota (a sugar mill). Sugar became the most important [according to whom?] agricultural export of the Philippines between the late eighteenth century and the mid-1970s because of two main reasons: 1) foreign exchange earned and 2) it was the basis of wealth accumulation of some Filipino elite at that time.
Map of countries by exports, 2023. The following article lists different countries and territories by their exports according to data from the World Bank. Included are merchandise exports and service exports. Merchandise exports are goods that are produced in one country and sold to another country. Service exports refer to the cross-border ...
Coffee is an important agricultural product in the Philippines, and is one of the Philippines' most important export products [39] aside from being in high demand in the country's local consumer market. [40] The Philippines is one of the few countries that produce the four main viable coffee varieties; Arabica, Liberica , Excelsa and Robusta.
The Philippine Economic Zone Authority (PEZA), formerly known as the Foreign Trade Zone Authority (FTZA) and Export Processing Zone Authority (EPZA), is a Philippine government agency attached to the Department of Trade and Industry.