The

History of Philippine Economy

Timeline

Pre- Colonial Period 982 BC - 1565

500 AD - 800 AD
982 BC Emergence of barangay city state and
Filipinos trade goods such as gold, rice, trade.
pots, and other product to indian, arab,
chinese, and japanese merchants.
1400
100 BC - Iron Age Japanese establishment of a trading port

Trade between tamil nadu and the and aparri in n northern luzon.
philippine islands.

1565 - 1898 Spanish Era

The spanish government inaugurated
the manila galleon trade system. King charles III of spain confirmed the

Trading ships, settlers, and military establishment of royal philippine company.

reinforcements made voyages from the
port of acapulo in mexico to manila.
The philippine economy grew. Trade
also introduced foodstuffs such as Opening of the port in manila to
maize, tomatoes, potatoes, chili international trade.
peppers, chocolate, and pineapples.
The philippine also became the
distribution in center of silver mined in Opening of suez canal
the america's in exchange after
indonesian spices, chinese silks, and
indian gems.

The American Period 1898 - 1985

During the era of the first republic, the

estimated GDP per capital for the pit in

1900 was of $1,033.00, making it the

Americans redeveloped the Philippine under american
second richest people in asia. system. They built new public schools, transportation,
reform system, botiques, offices, and civic buildings.

1935 - 1945 The Commonwealth Era

Taxes were collected from a robust coconut

industry, which helped the economy by funding

Thre philippines was granted a commonwealth

infrastracture and other development projects.
status, which brought rapid growth of prosperity,

tourism, industry, and agriculture the largest

contributor to the economy.

World War II 1941 - 1945

Economic growth of the philippines receded
when the japanese invaded the country. Japanese government issued fiat currency in
several denominations.
Due to food shortages, people were forced to
cultivate private plots to produce root crops.
These new money became known in the PH
as the Mickey Mouse money due to its very
Japanese brought a quick-maturing horai rice
low value caused by severe inflation.
to the country to make it self-sufficient by

1943, but were interrupted due to a rains in

1942.

1946–1965 Third Philippine Republic

Pres. Manuel Roxas established the Rehabilitation
Finance Corporation (which would be reorganized in
1958 as the Development Bank of the Philippines);
the Department of Foreign Affairs and the
organization of the foreign service through Executive President Roxas campaigned for the parity

Order No. 18; the GI Bill of Rights for Filipino amendment to the 1935 Constitution, which would

veterans; and the revision of taxation laws to increase give American citizens and industries the right to

government revenues. utilize the country’s natural resources in return for

rehabilitation support from the United States.

Philippines Beyond 1965

The negotiation of MBA 1987
Pursuit of Independence Foreign Policy
To promote the economic growth in the
PH became a founding member of Asia-
Pacific Economic Cooperation or APEC.
The PH also became a member of the
Association of Southeast Asian Nations
(ASEAN) to accelerate economic growth,
social progress and cultural development
in the region.
US-PH Trade agreement
To further reorganize and strengthen the

Philippine Foreign Service, including the

organization of the Department of

Foreign Affairs, R.A. 7157 was enacted.