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Philippines

Capital City: Manilla
%T:%M %A in Manilla
Growth has been keeping up for several years in Philippines. The GDP growth rate was 6.1% in 2004 and 4.7% in 2005. The IMF forecasts a 4.8% growth in 2006. However, this growth is not sufficient to curb the country's high level of poverty. 40% of the population lives with less than 2 dollars a day and unemployment affected 10.9% of the active population by the beginning of 2005.

Agriculture contributes to 20% of Philippine GDP and employs 40% of the active population. Philippines are the world's largest producer of rice and coconut. Fishing provides 3% of the GDP. Philippines benefit from important mining natural resources such as phosphates, copper, nickel or gold. The manufacturing industry is the economy's pillar and generates 25% of the GDP. Food processing is a major activity. Services have significantly developed (especially telecommunication and finance) and account for half of the GDP.

Philippines are members of ASEAN, the Association of Southeast Asian Nations.
Its three largest export countries are the United States, Japan and Hong Kong. Philippines mainly export electric and electronic equipment goods and machinery.
Philippines 's three largest import countries are Japan, the United States and Singapore. The country mainly imports electronic and electric equipment, machinery and energy products.

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