 |
Encyclopedia—The PhilippinesEconomyWith their tropical climate, heavy rainfall, and naturally fertile volcanic soil, the Philippines are predominantly agricultural. Rice, corn, and coconuts take up about 80% of all cropland. Sugarcane, sweet potatoes, manioc, bananas, hemp, tobacco, and coffee are also important crops. Carabao (water buffalo), pigs, chickens, goats, and ducks are widely raised, and there is dairy farming. Fishing is a common occupation; the Sulu Archipelago is noted for its pearls and mother-of-pearl shell. The islands have one of the world's greatest stands of commercial timber. There are also mineral resources such as nickel, zinc, copper, cobalt, gold, silver, iron ore, and chromite. Nonmetallic minerals include rock asphalt, gypsum, asbestos, sulfur, and coal. Limestone, adobe, and marble are quarried, and petroleum is mined. Manufacturing is concentrated in metropolitan Manila, near the nation's prime port, but there has been considerable industrial growth on Cebu, Negros, and Mindanao in recent years. Textiles, pharmaceuticals, and chemicals are manufactured, and the assembly of electronics and automobiles is important. Other industries include food processing and petroleum refining. The former U.S. military base at Subic Bay was redeveloped in the 1990s as a free-trade zone. The economy has nonetheless remained week, and many Filipinos, who are generally well educated, have sought employment overseas; remittances from an estimated 8 million Filipinos abroad are important to the economy. Chief exports are electronics and telecommunications equipment, lumber and plywood, machinery, garments, coconut products, copper, and sugar. The main imports are raw materials, production equipment, and intermediate goods for processing. The chief trading partners are the United States and Japan. Sections in this article: The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2007, Columbia University Press. All rights reserved.
|
|
