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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. 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 .
By 2021, rice production ( palay) in the Philippines reached 20.0 million metric tons (MMT), a 3.5% increase from 2020, despite rice imports rising to 2.9 MMT. The RTL has significantly influenced the management of inflation in the rice sector since its implementation and serves as an approach for potential reforms in the agricultural sector of ...
The Philippines is an archipelago of about 7,641 islands, [202] [203] covering a total area (including inland bodies of water) of about 300,000 square kilometers (115,831 sq mi).
The Baháʼí Faith in the Philippines started in 1921 with the first Baháʼí first visiting the Philippines that year, and by 1944 a Baháʼí Local Spiritual Assembly was established. In the early 1960s, during a period of accelerated growth, the community grew from 200 in 1960 to 1000 by 1962 and 2000 by 1963.
With the Philippines being the 39th largest economy in the world, the country continues to be a promising prospect for the BPO Industry. In August 2014, the Philippines hit an all-time high for employment in the BPO industry. From 101,000 workers in 2004, the labor force in the industry grew to over 930,000 in just the first quarter of 2014.
History. According to the United Nations, coconut production in the Philippines grew at the rate of 5.3 per cent per year from 1911 to 1929, and increased by 3.5 per cent from 1966 to 1970. [7] In 2012, the Philippines exported more than 1.5-million tonnes of copra, coconut oil, copra meal, desiccated coconut, coco shell charcoal, activated ...
Producer Price Index data released on June 13 reports a 0.2% increase in wholesale prices — or the prices manufacturers pay to producers of goods and services — from April's 0.5% increase ...
Interest income from a depository bank under the expanded foreign currency deposit system is taxed at the rate of 15%. [3] Income from long-term deposits and investments, when pre-terminated in less than three years after making such deposit or investment, is taxed at the rate of 20%; less than four years, 12%; and, less than five years, 5%.