Economy - overview: In 1998 the Philippine economy - a mixture of agriculture, light industry, and supporting services - deteriorated as a result of spillover from the Asian financial crisis and poor weather conditions. Growth fell to about -0.5% in 1998 from 5% in 1997, but recovered to 2.9% in 1999. The government has promised to continue its economic reforms to help the Philippines match the pace of development in the newly industrialized countries of East Asia. The strategy includes improving infrastructure, overhauling the tax system to bolster government revenues, and moving toward further deregulation and privatization of the economy.

GDP: purchasing power parity - $282 billion (1999 est.)

GDP - real growth rate: 2.9% (1999 est.)

GDP - per capita: purchasing power parity - $3,600 (1999 est.)

GDP - composition by sector:
agriculture: 20%
industry: 32%
services: 48% (1997 est.)

Population below poverty line: 32% (1997 est.)

Household income or consumption by percentage share:
lowest 10%: 2.4%
highest 10%: 33.5% (1994)

Inflation rate (consumer prices): 6.8% (1999)

Labor force: 32 million (1999 est.)

Labor force - by occupation: agriculture 39.8%, government and social services 19.4%, services 17.7%, manufacturing 9.8%, construction 5.8%, other 7.5% (1998 est.)

Unemployment rate: 9.6% (October 1998)

Budget:
revenues: $14.5 billion
expenditures: $12.6 billion, including capital expenditures of $NA (1998 est.)

Industries: textiles, pharmaceuticals, chemicals, wood products, food processing, electronics assembly, petroleum refining, fishing

Industrial production growth rate: 1.7% (1999 est.)

Electricity - production: 39.623 billion kWh (1998)

Electricity - production by source:
fossil fuel: 70.12%
hydro: 10.75%
nuclear: 0%
other: 19.13% (1998)

Electricity - consumption: 36.849 billion kWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

Agriculture - products: rice, coconuts, corn, sugarcane, bananas, pineapples, mangoes; pork, eggs, beef; fish

Exports: $34.8 billion (f.o.b., 1999 est.)

Exports - commodities: electronic equipment, machinery and transport equipment, garments, coconut products

Exports - partners: US 34%, EU 20%, Japan 14%, Netherlands 8%, Singapore 6%, UK 6%, Hong Kong 4% (1998)

Imports: $30.7 billion (f.o.b., 1999 est.)

Imports - commodities: raw materials and intermediate goods, capital goods, consumer goods, fuels

Imports - partners: US 22%, Japan 20%, South Korea 8%, Singapore 6%, Taiwan 5%, Hong Kong 4% (1998 est.)

Debt - external: $51.9 billion (1999)

Economic aid - recipient: ODA, $1.1 billion (1998)

Currency: 1 Philippine peso (P) = 100 centavos

Exchange rates: Philippine pesos (P) per US$1 - 40.427 (January 2000), 39.089 (1999), 40.893 (1998), 29.471 (1997), 26.216 (1996), 25.714 (1995)

Fiscal year: calendar year

Telephones - main lines in use: 1.9 million (1997)

Telephones - mobile cellular: 1.959 million (1998)

Telephone system: good international radiotelephone and submarine cable services; domestic and interisland service adequate
domestic: domestic satellite system with 11 earth stations
international: 9 international gateways; satellite earth stations - 3 Intelsat (1 Indian Ocean and 2 Pacific Ocean); submarine cables to Hong Kong, Guam, Singapore, Taiwan, and Japan

Radio broadcast stations: AM 366, FM 290, shortwave 3 (1999)

Radios: 11.5 million (1997)

Television broadcast stations: 31 (1997)

Televisions: 3.7 million (1997)

Internet Service Providers (ISPs): 93 (1999)

Railways:
total: 492 km (an additional 405 km are not in operation)
narrow gauge: 492 km 1.067-m gauge (1996)

Highways:
total: 199,950 km
paved: 39,590 km
unpaved: 160,360 km (1998 est.)

Waterways: 3,219 km; limited to shallow-draft (less than 1.5 m) vessels

Pipelines: petroleum products 357 km

Ports and harbors: Batangas, Cagayan de Oro, Cebu, Davao, Guimaras Island, Iligan, Iloilo, Jolo, Legaspi, Manila, Masao, Puerto Princesa, San Fernando, Subic Bay, Zamboanga

Merchant marine:
total: 480 ships (1,000 GRT or over) totaling 5,973,024 GRT/9,025,087 DWT
ships by type: bulk 159, cargo 122, chemical tanker 5, combination bulk 9, container 7, liquified gas 13, livestock carrier 9, passenger 4, passenger/cargo 12, petroleum tanker 47, refrigerated cargo 20, roll-on/roll-off 19, short-sea passenger 32, specialized tanker 2, vehicle carrier 20 (1999 est.)
note: a flag of convenience registry; Japan owns 19 ships, Hong Kong 5, Cyprus 1, Denmark 1, Greece 1, Netherlands 1, Singapore 1, and UK 1 (1998 est.)

Airports: 266 (1999 est.)

Airports - with paved runways:
total: 76
over 3,047 m: 4
2,438 to 3,047 m: 5
1,524 to 2,437 m: 26
914 to 1,523 m: 31
under 914 m: 10 (1999 est.)

Airports - with unpaved runways:
total: 190
1,524 to 2,437 m: 3
914 to 1,523 m: 66
under 914 m: 121 (1999 est.)

Heliports: 1 (1999 est.)