Jordan Dufelmeier

Economic Map Project: Philippines

GDP: $188.7 Billion GDP Per Capita: $3,500 Growth Rate: 7.3% Unemployment Rate: 7.3% Population Below Poverty Line: 32.9% Exports: $50.68 Billion Imports: $61.07 Billion National Debt: 52.4% of GDP

The Republic of the Philippines is a country of Southeast Asia in the Western Pacific ocean. It's closest neighbors are Vietnam on the other side of the South China Sea, Indonesia across the Celebes Sea. It is an island nation comprised of over 7,000 islands, and a population of about 94 million. Weathering the 2008-2009 global recession, the Philippines has averaged 4.5% DGP growth every year, with a 7.3% growth in GDP during the 2010 fiscal year. This positive growth is due to having lower dependence on exports, more resilient domestic consumption than its regional peers, large remittances from 4-5 million overseas Filipino workers, and a growing business outsourcing industry. Some of its imports are: mineral fuels, machinery and transport equipment, iron and steel, grains, chemicals, and plastics. It's primary import partners are Japan, China and the United States. A few examples of the nation's exports are: semiconductors and other electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, and a myriad of tropical fruits. It's primary export partners are China, the U.S, and Singapore. Despite this growth, the disparity between the wealthy and the poor has increased, most of the benefits of the growing economy are becoming increasingly concentrated.