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• PHILIPPINES - AT A GLANCE
• ECONOMIC PERFORMANCE
• PHILIPPINES – UNITED KINGDOM TRADE
• PHILIPPINES – EU TRADE
• PHILIPPINES – ASEAN
• ASEAN TRADE
• PHILIPPINES – NEW GOVERNMENT
• PHILIPPINES - AT A GLANCE • Land : 300,000 sq.km.
• Population : 90 million,
2.0% growth (July 2009)
• Median age : 22 years
old
• Languages : Pilipino,
English
• GDP : US$ 321 billion
(PPP, 2008)
• Income/capita : US$
3,300 (PPP, 2008)
• GDP composition :
Agriculture (15%),
Industry (32%), Services
(53%)
• Labor force : 37 million
• PHILIPPINES - AT A GLANCE
• ECONOMIC PERFORMANCE - GDP
2001 – 2009
• Average GDP for the period was 4.97%, highest since 1966
• 33 Quarters of Uninterrupted Growth
• GDP/Capita Grew from $76 billion in 2001 to $186 billion in 2008
2010
• The government projects growth of between 2.6-3.6% for 2010.
• Fitch Ratings projects 3.2% growth, IMF 3.5%, HSBC 4.2%, Barclay’s
4.3%, and MasterCard Worldwide 5.1%.
• IMF said Philippine economic growth would improve to 4.0% in 2011
• ECONOMIC PERFORMANCE – STOCK MARKET INDEX
2001 – 2009
• From 1,494.50 points on 29 December 2000 to 3,052.68 points on 29
December 2009
2010
2010
2000 - 2009
• From $6 billion in 2000, to over $17 billion in 2009
2010
• Remittances grew year-on-year by 5.6 percent in March 2010 to reach
US$1.6 billion, the second highest monthly remittance level ever
recorded.
• This brought total remittances for the first three months of the year to
US$4.3 billion, or 7.0 percent year-on-year growth registered for the period
• ECONOMIC PERFORMANCE – EXPORTS / IMPORTS
2005 - 2009 (in million USD)
2009 - 2010
• Exports grew in November 2009 by 5.1%
• Export sales in the first two months of 2010 posted a 42.43% rise to
$7.146 billion over year-ago levels, buoyed by the 52.3% increase in
electronic shipment sales.
• ECONOMIC PERFORMANCE – EXPORTS / IMPORTS
Export Development Council (EDC) has a 16% growth target for 2010, which will
soon be revised upwards. The Central Bank also said export sales could grow
12% in 2010, better than the 7% forecast made in October
• ECONOMIC PERFORMANCE – EXPORTS / IMPORTS
Top 10 Principal Exports to All Countries: 2008 and 2009 (in million USD)
Top 10 Principal Imports from All Countries: 2008 and 2009 (in million USD)
2009 %share 2008 %share
Total of Top Ten Imports 15,650.73 76.9 23,990.71 81.1
1 Electronic Products 7,113.95 34.9 10,888.18 36.8
2 Mineral fuels, lubricants etc 3,285.04 16.1 6,504.10 22.0
3 Cereals and Cereal Preparations 1,459.23 7.2 1,304.33 4.4
4 Transport Equipment 1,018.58 5.0 1,333.18 4.5
5 Machinery and Equipment 776.16 3.8 1,091.34 3.7
6 Organic and Inorganic Chemical 558.96 2.7 634.40 2.1
7 Iron and Steel 422.14 2.1 885.65 3.0
8 Pharmaceutical Products 361.36 1.8 337.84 1.1
9 Plastics 355.05 1.7 586.07 2.0
10 Textiles and related products 300.27 1.5 425.63 1.4
• ECONOMIC PERFORMANCE – EXPORTS / IMPORTS
• PHILIPPINES – UNITED KINGDOM TRADE
In terms of its share of world exports to the Philippines, the UK remains in the
15th position. It is also the top net FDI investor in the Philippines, investing
US$ 298.17m in 2008, and a total of over US$18bn over the last 10 years.
• PHILIPPINES – UNITED KINGDOM TRADE
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 p/
4.89 510.77 8.80 1.26 3.10 1.98 9.91 16.52 74.77 298.17 0.45
1. Netherlands
2. Germany
3. France
4. Belgium
5. UK 223.49 4.5 125.23 3.7 98.26 5.9
• PHILIPPINES – EU TRADE
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 p/
245.2 578.7 111.1 17.2 -466.6 -12.0 44.4 418.1 88.9 473.1 -15.3
• Brunei Darussalam
• Cambodia
• Indonesia
• Lao PDR
• Malaysia
• Myanmar
• Philippines
• Singapore
• Thailand
• Vietnam
• PHILIPPINES – ASEAN
2008 2009
With the entry into force of the ASEAN Charter on 15 December 2008,
ASEAN will operate under a new legal framework and establish a number of
new organs to boost its community-building process.
The AFTA has been virtually established with significant progress in the
lowering of intra-regional tariffs through the Common Effective Preferential Tariff
(CEPT) Scheme. More than 99% of products in the CEPT Inclusion List (IL) of
the ASEAN-6 have been brought down to the 0-5% tariff range
Products that remain out of the CEPT-AFTA Scheme are those in the Highly
Sensitive List (i.e. rice) and the General Exception List.
ASEAN’s newer members are not far behind in the implementation of their
CEPT commitments with almost 80 percent of their products having been moved
into their respective CEPT ILS.
• ASEAN TRADE
The ATIGA contains the full import duty liberalisation schedule among
ASEAN Member States and spells out the tariff rates to be applied on products,
providing businesses with transparency and certainty.
• ASEAN TRADE
ASEAN Trade Agreements – FTAs with Other Countries
The EU is reportedly still keen on a free trade pact with ASEAN although it
will soon start free trade agreement talks with individual member
countries.
One of the stumbling blocks to an FTA with ASEAN is that its members are
in different phases of development.
The EU hopes to start its first FTA talk in ASEAN with Singapore, and
recently expressed interest in an FTA with Vietnam.
• PHILIPPINES – EU TRADE
RP-EU Partnership and Cooperation Agreement (PCA)
Great progress was reported at the fourth round of negotiations concluded last 5
February 2010 on the PCA that will serve as the general framework of relations
between the Philippines and the European Union.
The parties agreed on provisions with respect combating illicit drugs, employment
and social affairs, data protection, education, culture and intercultural and interfaith
dialogue, development cooperation, statistics, and small arms and light weapons.
Next round of PCA negotiations in June may also be the last. FTA talks may
proceed thereafter.
With 90% of votes counted, Senator Benigno Simeon “Noynoy” Aquino III
leads his closest rival by over five million votes.
• PHILIPPINES – NEW GOVERNMENT
Policy Pronouncements of Senator Aquino:
Raise Tax Efficiency rate by two percentage points from the current 13%
Consider raising taxes if it was clear budget shortfall was unlikely to be cut
quickly by anti-evasion and anti-smuggling measures
Promote industries with the greatest potential for growth and where the
Philippines has a competitive advantage, such as agri-business, BPO,
creative industries, infrastructure, manufacturing and logistics, mining,
and tourism and retirement.
Increase defense spending to two percent of GDP, from the current one percent.
AND
MABUHAY!