The three main economic activities of the Philippines are agriculture, the automotive industry and electronics.
Agriculture:
The Philippines exports pineapples, copra (and coconut derived foodstuffs), carrageenan, bananas and abaca. The Philippines also hosts the IRRI. This stands for International Rice Research Institute. This institute studies rice varieties that are high yielding and were already increasing rice production and rice yields back in the 1970s. The country now produces 16 million tons of rice.
Automotive:
Prominent automaker manufacturers in the Philippines are Nissan, Mitsubishi, Toyota and Ford. The anti-lock braking systems used in Volvo, BMW and Mercedes Benz cars are also manufactured here. The top-selling vehicle brand in the Philippines is the Toyota. This year, the Chery Auto company from China will be building an assembly plant at Laguna.
Electronics:
Pentium 4 processors including other products have been manufactured by Intel within the Philippines for the last 28 years. The Texas Instrument plant has been in operation for the last 20 years and is the largest manufacturer of DSP chips found throughout the world. They produce all Nokia cell phone chips and 80% of Ericsson cell phone chips. Toshiba produces hard disk drives at its plant in Laguna. Lexmark has its printer manufacturing factory in Mactan.
The Philippines' economy is the 12th biggest economy within Asia and the 32nd biggest economy in the world. Mining is starting to show great potential within the Philippines as there are considerable reserves of copper, nickel and chromite. The Philippines has been ranked as being one of five most mineral-rich countries in the world, with an estimated mineral wealth of $1 trillion. Natural gas has also recently been found off the Palawan islands, adding to the Philippines' oil, coal, hydro and geothermal energy reserves exploration. In 2010, the economy of the Philippines had grown by 7.6%.
Agriculture:
The Philippines exports pineapples, copra (and coconut derived foodstuffs), carrageenan, bananas and abaca. The Philippines also hosts the IRRI. This stands for International Rice Research Institute. This institute studies rice varieties that are high yielding and were already increasing rice production and rice yields back in the 1970s. The country now produces 16 million tons of rice.
Automotive:
Prominent automaker manufacturers in the Philippines are Nissan, Mitsubishi, Toyota and Ford. The anti-lock braking systems used in Volvo, BMW and Mercedes Benz cars are also manufactured here. The top-selling vehicle brand in the Philippines is the Toyota. This year, the Chery Auto company from China will be building an assembly plant at Laguna.
Electronics:
Pentium 4 processors including other products have been manufactured by Intel within the Philippines for the last 28 years. The Texas Instrument plant has been in operation for the last 20 years and is the largest manufacturer of DSP chips found throughout the world. They produce all Nokia cell phone chips and 80% of Ericsson cell phone chips. Toshiba produces hard disk drives at its plant in Laguna. Lexmark has its printer manufacturing factory in Mactan.
The Philippines' economy is the 12th biggest economy within Asia and the 32nd biggest economy in the world. Mining is starting to show great potential within the Philippines as there are considerable reserves of copper, nickel and chromite. The Philippines has been ranked as being one of five most mineral-rich countries in the world, with an estimated mineral wealth of $1 trillion. Natural gas has also recently been found off the Palawan islands, adding to the Philippines' oil, coal, hydro and geothermal energy reserves exploration. In 2010, the economy of the Philippines had grown by 7.6%.
