Agriculture is the most expansive sector of the Philippines economy. The products mainly consists of sugar, banana, coconut, pork, eggs, rice and corn. They still continue to be a largely agriculturally based, but there are several other prominent sectors that have led to the rise in the economic situation. Manufacturing industries like textiles, electrical equipment, automobile parts and food processing units are becoming a strong part of the growing economy. The industries are mainly concentrated around Manila and there are several Business Process Outsourcing companies being set up in Philippines. This has also reduced the rate of unemployment.
|