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Philippines Economics


Philippinepesonew.jpg
Philippine Pesos


















PhilippinePesoCoins.jpg
Philippine Peso Coins




Currency:

Philippine pesos

Exchange Rates:

Philippine pesos (PHP) per US dollar -
45.11 (2010)
47.68 (2009)
44.439 (2008)
46.148 (2007)
51.246 (2006)

GDP (2009):

$160.6 billion.
Annual GDP growth rate (2009): 0.9% at constant prices.

GDP per capita (2009):

$1,746.

Natural resources:

Copper, nickel, iron, cobalt, silver, gold.

Agriculture:

Products are rice, coconut products, sugar, corn, pork, bananas, pineapple products, aquaculture, mangoes, eggs.

Industry:

Types--textiles and garments, pharmaceuticals, chemicals, wood products, paper and paper products, tobacco products, beverage manufacturing, food processing, machinery and equipment, transport equipment, electronics and semiconductor assembly, mineral products, hydrocarbon products, fishing, business process outsourcing services.

Trade (2009):

Exports--$38.3 billion. Imports--$42.8 billion.

Symbols of Social Stratification:

Money to buy consumer goods is an indicator of power. Wealthy people lead western lifestyles. They travel abroad frequently and pride themselves on the number of Westerners they have as friends. Since few people outside Manila have a family car, owning a vehicle is a clear statement of a high social level. Houses and furnishings show a person's social position. Upholstered furniture instead of the traditional wooden couches and beds, rows of electrical appliances that are never used and area rugs are all important. Women above the poverty level have extensive wardrobes. Sending one's children to the best schools is the most important indicator of social position. The best schools often are private schools and are quite expensive.

Quiz:



Quiz yourself to see what you remember!
1. What is the Philippine currency?
a) Dolar
b) Pesito
c) Philippine Peso
d) PHP

2. What was the exchange rate of the Philippine $ to U.S. dollars in 2006?
a) 45.557
b) 51.246
c) 44.456
d) 51.422

3. What are 2 agricultural products?
a) rice & beans
b) nuts & bananas
c) pineapple & oranges
d) rice & sugar


*Highlight the row below the numbers to check your answers

1.
c
2.
b
3.
d


Resources:


The World Factbook. (n.d.). Central Intelligence Agency. Retrieved April 26, 2011, from
https://www.cia.gov/library/publications/the-world-factbook/geos/rp.html

Philippine peso . (n.d.). Wikipedia, the free encyclopedia. Retrieved May 1, 2011, from
http://en.wikipedia.org/wiki/Philippine_peso

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