philippines

The Economy of the Philippines Per Capita Income: The per capita income of a certain country is the GDP of that country divided by the total population. In the Philippines the per capita income is approximately $700. When compared to the per capita income of the United States, which is about $22,000, it is easy to tell that the economy of the Philippines is very, very poor. GDP: Growth: 5.7% GDP= 82.8 billion dollars % FROM AGRICULTURE: 17.1 (important because you …

…join unions. The prices are generally determined by free market forces, with only a few exceptions. Conclusion: Although the Philippines economy is weak, and the unemployment rate is high, the Philippines are showing some signs of improvement. It has recently become a more open economy, allowing for more free trade and free market forces. As this process continues, trade with the Philippines will increase, and eventually, a more capitalistic and a successful economy will emerge.