The Philippines

The East South East Asia Service provides a weekly option for southbound cargoes from the Philippines to New Zealand via Singapore. Our North Asia vessels make a direct northbound call at the strategic port of Subic Bay on a monthly basis.

Economic Indicator
Population 82 million (2003)
GDP US$79.16 billion (2003)
GDP Growth Rate 4.5% (2003)
GDP Per Capita US$964 (2003)
Inflation 2.9.% (2003)
Total Imports US$37.50 billion (FOB 2003)
Total Exports US$36.30 billion (FOB 2003)
Currency 1 Philippine peso (P) = 100 centavos
Exchange Rate NZ$ Php 35.00 approx.
  US$ Php 56.00 approx.
Source: National Statistical Coordination Board & Philippine Central Bank



Overview
The Republic of Philippines is located on the western side of the Pacific Ocean and is made up of some 7000 islands. The country is divided into three geographical regions: Luzon, Visayas, and Mindanao. Only 730 of the islands are inhabited and 11 of these account for most of the total land area as well as population. All the larger islands are volcanic and mountainous.

The Philippines was colonised by the Spaniards in the 1500s. After almost four centuries of Spanish colonial rule, the Philippines became a colony of the USA. It gained independence in 1946. The Philippines is the only Christian country in Asia.

The economy is dependent on manufacturing, agriculture, forestry and fishing. The country has an abundance of natural resources in timber, coconut, bananas, sugar, rubber and minerals. One of Asia's wealthiest countries in the 1950s, the Philippines had, by the 1980s, become one of the poorest due to poor economic management and policies. The situation does appear to be improving, however. The almost daily power failures that plagued the country during the 1990s now appear to be under control and the latest statistics show an improvement in the economy.

The Philippines ranked as New Zealand's13th largest market in December 2003.

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The Philippines' Top Ten Exports, Jan-Jun 2004 (US$ million)
Electronic equipment and parts 12,554
Garments and clothing accessories 1,038
Imported products manufactured on consignment basis 284
Petroleum products 143
Wiring and cable 283
Coconut oil 277
Cathodes of refined copper 186
Woodcrafts and furniture 196
Bananas (fresh) 162
Metal components 143
Others 2,853
Total exports 2004
(YTD Jan-Jun)		 18,119
Source: National Statistics Office
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The Philippines' Top Ten Imports, Jan-Jun 2004 (US $ million)
Electronic equipment and parts 8,943
Mineral fuels, lubricants and related materials 2,253
Office machines 2,868
Telecommunication eqpmt and electrical machinery 446
Industrial machinery and equipment 895
Transport equipment 587
Textile yarn, fabrics & made up articles 484
Cereal and cereal preparations 342
Organic and inorganic chemical 332
Plastics in primary and non-primary Forms 445
Others 2,026
Total Imports, 2004
(YTD Jan-Jun)		 19,621
Source : National Statistics Office
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New Zealand's Top Ten Exports to the Philippines - FOB, June 03-June 04 (NZ$ million)
Milk powders 227.74
Other dairy 41.98
Wood sheets and panels 37.32
Butter 25.62
Paper and paperboard 23.48
Wood and pulp 23.20
Casein 12.77
Beef 8.73
Fruit and vegetable preparations 7.73
Industrial and electronic machinery 6.19
Source: Statistics New Zealand


The above information is an excerpt from the New Zealand Trade & Enterprise Country Briefs. For a more comprehensive account visit:
http://www.nzte.govt.nz

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NZ exports to the Philippines



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