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| Capital city: |
Manila |
| Surface area: |
300,000 sq km |
| Population: |
88.6 million |
| Official language(s): |
Filipino (Tagalog), English |
| Head of State & Head of Government: |
H.E. President Gloria Macapagal-Arroyo |
| Australian exports to the Philippines: |
A$1,280 million |
| Australian imports from the Philippines: |
A$763 million |
| The Philippines' principal export destinations: |
USA, Japan, Hong Kong |
| The Philippines' principal import sources: |
USA, Japan, Singapore | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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The government has promised to continue economic reforms to further support growth in the economy. These reforms will focus on areas such as infrastructure, taxation laws and further deregulation and privatisation of the economy.
Key economic indicators and statistics for 2008:
- GDP – US$172.3 billion
- GPD per capita – US$1,908
- Real GDP growth – 4.4 per cent
- Inflation – 12.2 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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As mandated under the 1987 constitution, the Republic of the Philippines operates on a separation of powers between the executive presidency, bicameral legislature, and independent judiciary. The President is considered both chief of state and head of government and can serve no more than one six-year term.
Short-term stability has been affected by spurts of terrorist and leftist attacks, and the government has been aggressive in its drive against domestic and international terrorism.
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Trade relations and statistics
The Philippines is a member of the Association of South East Asian Nations (ASEAN), along with Indonesia, Malaysia, Singapore, Thailand, Brunei, Vietnam, Laos, Burma and Cambodia. ASEAN was established to accelerate the economic growth and promote peace and stability throughout the region.
The Philippines considers its relationship with its neighbours in the Asia-Pacific region critical to its national security and economic development. The cultivation of good relations between the Philippines and its neighbours in the South East Asia region, particularly its co-members in ASEAN is crucial to the advancement of its own national interest and that of the region, especially in terms of regional stability and prosperity.
The Philippines maintains a good trading relationship with Australia being a net exporter of goods.
Major Australian exports to the Philippines (2007-08):
- Crude petroleum – A$195 million
- Copper ores and concentrates – A$159 million
- Medicaments (including veterinary) – A$110 million
- Milk and cream – A$106 million
Major Australian imports from the Philippines (2007-08):
- Crude petroleum – A$228 million
- Copper – A$44 million
- Electrical machinery and parts–A$37 million
- Telecom equipment and parts – $35 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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