Philippines asia’s strongest performing economy

Discussion in 'Indo Pacific & East Asia' started by Ray, Feb 14, 2013.

  1. Ray

    Ray The Chairman Defence Professionals Moderator

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    PHILIPPINES ASIA’S STRONGEST PERFORMING ECONOMY

    THE value of Philippine merchandise exports grew by 22.8% to $4.8 billion in September, 2012, higher than the $3.9 billion shipped out in the same month in 2011, making the country the strongest performer among Southeast and East Asian nations. The Philippines topped the exports growth of Hong Kong (15.8%), Vietnam (15.6%), Taiwan (10.4%), China (9.9%), and Thailand (0.2%).

    Electronics remained the top Philippine export product in September, 2012, with total receipts of $1.83 billion, 1.1% higher than the earnings last year, followed by woodcraft and furniture, and metal components. Other top export earners were banana, coconut oil, and tuna. Japan was the top destination of Philippine exports with a 30.8% share of total export receipts, followed by the United States, People’s Republic of China, Hong Kong, and Singapore. After the earthquake and tsunami that devastated Japan in 2011, export orders poured into the Philippines to help support reconstruction efforts and fill the need for new products.

    Merchandise exports grew by 7.2% to $40.1 billion in the first three quarters from $37.4 billion in the same period last year. Annual gains in shipment revenues from manufactures (29%), forest products (185%), and petroleum (7.4%), supported the continues growth of total merchandise exports. The National Economic and Development Authority noted that the positive export growth in the first nine months of 2012 reflected the moderate improvement in global economic activity as industrial production and business confidence.

    Export targets under Philippine Export Development Plan (PEDP) 2011-2013 are $80.2 billion for 2012 and $89.2 billion for 2013. The key export sectors that make up 87% of current business are information technology-business process outsourcing, electronics, agribusiness products, minerals, shipbuilding, motor vehicle parts, garments and textiles, home-style products, and wearables.

    We congratulate Republic of the Philippines President Benigno S. Aquino III, and Members of his Economic Team: Department of Finance Secretary Cesar V. Purisima, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr., Department of Trade and Industry Secretary Gregory L. Domingo, and National Economic and Development Authority Director General Arsenio M. Balisacan, other Officers and Personnel, for their cooperation efforts to sustain and keep the momentum of economic growth.

    PHILIPPINES ASIA’S STRONGEST PERFORMING ECONOMY | The Manila Bulletin Newspaper Online

    ********************************

    Growing clout?

    One wonders how they will now apply their effort towards the turmoils that have brewed in the SCS given that they are no longer a impoverished pushover.
     
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  3. Tianshan

    Tianshan Regular Member

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    the tiny city of hongkong by itself (with only 7 million people) has a bigger gdp than the entire country of the philipines.

    and both have a bigger economy than pakistan, even though pakistan has over 180 million people.

    22% export growth is great for philipines, but what is the base?
     
  4. Ray

    Ray The Chairman Defence Professionals Moderator

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    I would not know what is their base.

    I put this report here for expert analysis as to how far this is correct.
     
  5. Rahul92

    Rahul92 Senior Member Senior Member

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    @Ray As a investor perspective i would put my money in Vietnam or Thailand rather than Philippines
     
    Last edited by a moderator: May 10, 2015
  6. parijataka

    parijataka Senior Member Senior Member

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    Explain please.
     
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  7. asianobserve

    asianobserve Elite Member Elite Member

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    I beg to disagree. The Philippines has the most upside over the long term of these three SEA countries. Just ask HSBC.
     
    Last edited by a moderator: May 10, 2015
  8. Rahul92

    Rahul92 Senior Member Senior Member

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    Let's see some basic economic figures
    Philippines Vietnam Thailand
    G.D.P $318,200,000,000 $242,300,000,000 $548,700,000,000
    GDP per Capita $3,300 $2,800 $8,400
    GDP Growth Rate 3.8% 6.2% 2.6%
    Public Debt 56.9% 48.8% 37.9%
    (% of GDP)
    Unemployment Rate 7.4% 4.7% 1.4%
    Exports $48,200,000,000 $62,690,000,000 $175,300,000,000
    Imports $60,780,000,000 $75,470,000,000 $157,300,000,000

    One more key source for sustainable development yes that is ENERGY
    Energy
    Oil Consumption (Barrels/Day) 320,000 288,000 942,000
    Oil Production (Barrels per Day) 25,120 313,600 361,300
    Oil Proved Reserves 168,000,000 barrels 4,700,000,000 barrels 430,000,000 barrels
     
    Last edited: Feb 14, 2013
  9. Rahul92

    Rahul92 Senior Member Senior Member

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    Now you guys may say Thailand is okay but Vietnam is still no good for Philippines
    but take a note on these crucial points
    $ Vietnam is growing at double the pace of Philippines
    $ It has 10% less public debt compared to Philippines
    $ THE MOST CRUCIAL POINT IS CRUDE OIL VIETNAM PRODUCES 313,600 BARRELS A DAY BUT CONSUMES AROUND 288,000 EXCESS OF 30,000 BARRELS OF OIL PER DAY IS NO JOKE AND IT HAS PROVEN RESERVES OF 4,700,000,000 barrels WHICH IS IN FACT MORE THAN THAILAND
    NOW COMING TO PHILIPPINES IT PRODUCES AROUND 25,120 BARRELS AND CONSUMES 320,000 BARRELS A DEFICIT OF 295,000 BARRELS A DAY AND ADDED TO MISERY IT HAS ONLY RESERVES OF 168,000,000 barrels
     
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  10. parijataka

    parijataka Senior Member Senior Member

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    Vietnamese also tough people - gave good fight first to the French and then the US Army.
     
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  11. asianobserve

    asianobserve Elite Member Elite Member

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    Here's the result of HSBC projection of the biggest economies by 2050:

    HSBC 2050 list of top economies (change in rank from 2010)

    1) China (+2)

    2) U.S. (-1)

    3) India (+5)

    4) Japan (-2)

    5) Germany (-1)

    6) UK (-1)

    7) Brazil (+2)

    8) Mexico (+5)

    9) France (-3)

    10) Canada (same)

    11) Italy (-4)

    12) Turkey (+6)

    13) S. Korea (-2)

    14) Spain (-2)

    15) Russia (+2)

    16) Philippines (+27) (projected to become the #1 economy in the ASEAN by 2050)

    17) Indonesia (+4) (#2 ASEAN economy)

    18) Australia (-2)

    19) Argentina (2)

    20) Egypt (+15)

    21) Malaysia (+17) (#3, although I doubt this position)

    22) Saudi Arabia (+1)

    23) Thailand (+6) (#4)

    24) Netherlands (-9)

    25) Poland (-1)

    26) Peru (+20)

    27) Iran (+7)

    28) Colombia (+12)

    29) Switzerland (-9)

    30) Pakistan (+14)

    World’s top economies in 2050 will be… – Business 360 - CNN.com Blogs
     
  12. Yusuf

    Yusuf GUARDIAN Administrator

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    And the Chinis
     
  13. amoy

    amoy Senior Member Senior Member

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    Echoing yours and add Camodia whose recently opened stock bourse performs great though only 2 or so listed for the time being. PHL is but a transient boom in view of its internal insurgencies and lousy governance. Not to forget either its over 1 lakh nationals working in HK as a key source of remittance back vulnerable to spats with Chini

    Sent from my 5910 using Tapatalk 2
     
  14. asianobserve

    asianobserve Elite Member Elite Member

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    There are quack analysis and there are those done by experts. Between your opinions and the analysis of HSBC, I'd put my faith on the latter.
     
  15. ice berg

    ice berg Senior Member Senior Member

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    Predicting what will happend in 2050 is not an analysis. It is fortune-telling.

    Surely even you will know the difference?
     
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  16. Rahul92

    Rahul92 Senior Member Senior Member

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    Lol so called your experts say that pakistan will be 30th largest itself proves what kind of $hitholes they are
     
  17. asianobserve

    asianobserve Elite Member Elite Member

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    The difference is the source... Surely you know when somebody with no expertise doles out their "analysis" and when a multinational bank issues a projection. The first source has no expertise in economic analysis and no reputation to protect while the latter has the expertise for this kind of stuff and has a reputation to protect.

    BTW, fortune tellers look at tarot cards and palms when fortune-telling while multinational banks look at economic indicators and trends when making projections. They're two different things, or maybe in mainland China the economic projections of their banks are no different from fortune-telling....? :sarcastic:
     
    Last edited: Feb 15, 2013
  18. ice berg

    ice berg Senior Member Senior Member

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    Surely you know the difference between an analysis and a prediction.

    In this case a prediction of how the world will be in 40 years.

    If they couldnt even predict the subprime crisis, how the f.. you expect them to predict something 40 years later?

    Look at how horrendously the banks have performaned last few years and how governments all over the world had to step inn to save their asses, I am amazed how simpletons still trying to play up their called expertises and reputations.:rolleyes:

    They are no different than every day fortune-teller.

    Btw subprime didnt originated from China. lol. so much for your lack of knowledge. :laugh:
     
  19. asianobserve

    asianobserve Elite Member Elite Member

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    A single mistake does not invalidate all their previous projections that were right. After all they won't be in the worldwide banking business for so long and grew up to the giant that they are now if they didn't get most of their projections right - you need projections based on existing data to successfully invest btw...


    Where did I claim that the subprime crisis originated from China. Learn how to understand English first before you continue posting on this forum you fu***** id**t! :laugh:
     
    Last edited: Feb 15, 2013
  20. ice berg

    ice berg Senior Member Senior Member

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    That is certainly rich coming from a guy who believes this "prejection" when HSBC themselves said I quote:
    We openly admit that behind these projections we assume governments build on their recent progress and remain solely focused on increasing the living standards for their populations,” the report says. “Of course, this maybe an overly glossy way of viewing the world.”

    Maybe you should learn to read better, of your own source. :laugh::laugh:

    But since you believe in gossip like how the world will be in 40 years, then it does explain a few things about you.
     
  21. asianobserve

    asianobserve Elite Member Elite Member

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    It's "projection" not "prediction," and it's "forecast" not "forcast" dumb arse. Please study the English language more before you start doing your internet misinformations for the PLA.


    Oh well, I'd take HSBC's projections anytime than the musings of some barely literate guy from the Middle Kingdom. And in case you think I'm the only one picking up this projection think again...

    How the world's economies will rank in 2050 – if the environment doesn't collapse first | Business | guardian.co.uk

    Global Economy to Triple Led by Emerging Markets, Says HSBC - Bloomberg

    HSBC sees China and America leading global mega-boom - Telegraph
     

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