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The Philippines is ranked 44 in the world in terms of gross domestic product (GDP) with Czech Republic being 43 and Israel being 45. It is not a backwards country like some might suggest as it is considered a newly industrialized country. The economy has been transitioning from less agriculture to more manufacturing and services. They recently found natural gas which has added to its energy reserves and has growing tourists sites like Cebu. Also, the GDP grow rate in the Philippines is expected to be around 10% in the future. While the Philippines is certainly not the US in terms of economic power, it certainly is growing very fast and defiantly has a future. For instance, if the growth rate is 10%, then the economy will double in seven years.
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Actually, the Philippines has the 46th largest GDP of any country with the Czech Republic being 45th and Pakistan being 47th. It's current GDP growth rate is about 6%, not 10%. It also has a considerably high unemployment rate (7%) and a large portion of its people living under the poverty line (about 1/3). The Philippines is a newly industrialized country. This means their economy has net yet reached First World status, however, it has outpaced their developing counterparts. The main reason for any newly industrialized country's economic growth is exporting. This is the main reason for other newly industrialized countries such as China, India, and Mexico's massive economic growth as well. Read more about the Philippines' economy in the link below.
What else can I help you with?
What is the capital city of the phillipeans?
Manila is the capital of the Philippines.
Why is the Philippines called a mega diverse country?
The Philippines is considered a mega diverse country due to its incredibly high level of biodiversity and the wide variety of species found within its borders. It is home to a vast array of plants, animals, and marine life, making it one of the most biologically diverse countries in the world.
What is the rank of the Philippines from one of the poor countries in the world?
i think philippines ranking as number 5 after Somalia, Somalia is noted as the poorest country since 1955 until now. The second poor country is Ghana next is Kenya then followed by Indonesia. Pls take note that the countries having lot of thieves and crimes around the corners are absolutely very poor in condition.
Who is Henry Sy Sr?
Henry Sy Sr. was a Filipino businessman and founder of SM Group, one of the largest conglomerates in the Philippines. He was one of the richest men in the country, known for his contributions to the retail industry and real estate development. Henry Sy Sr. passed away in 2019, leaving a legacy of entrepreneurship and philanthropy.
What is the national pig numbers of Philippines?
As of 2021, the Philippines has around 12 million pigs, making it one of the top pork-producing countries in Asia. The swine industry in the Philippines plays a significant role in the country's agriculture sector and economy.
Is Philippines one of the top 100 richest country in the world?
Yes of Course!
What country is one of the richest country in the world?
United States of America
What country used to be one of the richest countries in the world?
India
Where are Nigeria in the richest country in Europe rankings?
Nigeria is not a European country but rather an African one. In Africa, Nigiera is the third richest country by GDP (45th in the world) and the twentieth richest by GDP per capita (138th in the world).
Who is the richest boy in one direction?
Zayn Malik is the richest because hes from Bradford and Bradford is the richest country in the world you see
The richest country in the Middle East is because one-quarter of the world's oil is found there?
The richest country in the world this year is Qatar. Its GDP is $91,379 for each man, woman and child.
What is the richest country in the world?
Luxembourg, one of the smallest countries in the EU has a population of 634,000 and is the richest country in this ranking with a per capita GDP of nearly $130,000
Is the clan of montenegro is one of the richest person in Philippines?
The clan of Montenegro is notable in the Philippines for its involvement in various businesses, particularly in shipping and other industries. While they are among the prominent families in the country, the title of "richest" is often subjective and can vary over time. Other families, such as the Sy, Ayala, and Enriquez clans, are frequently cited as some of the wealthiest in the Philippines. Therefore, while the Montenegros are affluent, they may not be the richest.
When Mandela says South Africa is the richest country in Africa and could be one of the richest countries in the world. But it is a land of extremes and remarkable contrasts he is appealing to?
pathos
Why is china a less economically developed country?
No, its one of the most built up and richest counries in the world!
Which countries does Japan touch?
japan does not touch any country because it is an island. Even though it is an island it is one of the most populated country in the world and it is one of the worlds richest and high tech country in the world
When Mr Mandela says South Africa is the richest country in Africa and could be one of the richest countries in the world But it is a land of extremes and remarkable contrast he is appealing to who?
pathos
