Market profile

Driven by broad-based expansion in domestic demand, the Philippine economy continues to perform strongly. According to the World Bank, the Philippines economy is set to grow between 6.5 to 7.5 per centRobust economic growth, rising business confidence, and improved competitiveness outlook are prompting investors to take a closer look at the Philippines and the opportunities it offers. The manufacturing sector has been the leading recipient, with food processing, as well as the banking and business process outsourcing (BPO) sectors.

Over A$2.2 billion of foreign aid from multi-lateral development banks (MDB) and international donor agencies (IDA) flow into the Philippines, largely into infrastructure, education and capacity building programs (Source: Foreign Aid Transparency Hub).

The Austrade office in the Philippines is also responsible for Guam and Micronesia

More information on doing business in the Philippines

ASEAN NOW – Insights for Australian Business

A digital report on Australia’s trade and investment relationship with ASEAN.

Key sections:

  • Why ASEAN matters to Australia
  • What’s driving growth
  • Opportunities by ASEAN market
  • Practical tips and assistance
  • Case studies.

Facts

  • Merchandise exports A$2,193 million
  • Services exports A$920 million
  • Capital Manila
  • Official languages Filipino (Tagalog), English
  • Area 298,170 sq km
  • Population 106.6 million

Information provided by DFAT

Country brief

A comprehensive overview of political, economic and bilateral and regional trade agreements.

» read more at DFAT

Trade and economic fact sheet

Containing general information, recent economic indicators, Australia’s trade and investment relationship with Philippines and their global merchandise trade relationship that is updated twice a year.

» read more at DFAT

 

Australia's trade at a glanceAustralia's top ten trading partners

Smartraveller

The Department of Foreign Affairs and Trade’s Smartraveller site provides advice for business travelers and tourists going to Philippines. This is regularly updated and should be checked before planning travel.

» read more at DFAT

Business risks

Bribery of Foreign Officials

Extractive Industries Transparency Initiative

The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.

The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.

OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government.

APEC Business Travel Card Scheme

Managed by the Department of Home Affairs, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.

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