THE PHILIPPINES

The Republic of the Philippines is a newly industrialized country, whose economy has continued to grow steadily since its independence in 1946. The country presents an interesting mix of influences not only from its Asian neighbors, but also from Spain (it was a colony), Mexico and the United States, bringing with it a strong Catholic presence.

 

The Philippines is rich in natural resources and is located in one of the most biodiverse areas in the world. After implementing a series of economic reforms at the beginning of the 21st century, the services sector displaced agriculture as its main economic activity. Today, the Philippines is one of the major exporters of electronic products, as well as being an icon of business process outsourcing worldwide thanks to the high level of English of its inhabitants.

 

In social terms, the Philippines presents values ​​typical of the rest of the region such as Asian collectivism and the aversion to losing face; but these values exist in parallel with a strong concept of dignity and individual pride more typical of Central and South American countries. Society tends to be organized in a hierarchical manner similar to the rest of the continent, but with a more relaxed approach to interpersonal relations than that of its more traditional Asian counterparts.

 

A curious fact: When you go to the Philippines, do not be surprised if they offer you an empanada, but we recommend that you bring your own red wine.

Population:

104.3 million

(2017)

GDP (USD):

313.5 billion

(2017)

GDP Growth rate:

7% - 8%

(2018 forecast)

General Information

Main languages:

Filipino (Official), English (Official), Tagalog

Capital: 

Manila

Key cities: 

Cebu, Davao

Currency: 

Philippine peso/piso (PHP)

Main religion: 

Roman Catholic

Economic Composition

The Philippines is a LOW-MIDDLE income DEVELOPING economy

Why The Philippines?

  • SLOGAN: "It's more fun in the Philippines"
     

  • World leader in Business Process Outsourcing (BPO)​​

  • Retail sector giant​

  • Native command of English and low cost place to study English​

Main Industries

Consumer goods

Real estate

Mining

Naval construction

Coconut products

Sugar

High growth Sectors

IT & BPO

Education (English)

Manufacturing

Retail

© 2019 Cámara de Comercio Chile-ASEAN A.G.

Chile-ASEAN Chamber of Commerce A.G.

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