Tacloban Motorcycle Rental
The Philippines is a tropical island nation located in Southeast Asia. It shares borders with Malaysia, Indonesia, Taiwan, and China. The capital city is Manila. Inhabitants of the Philippines are called Filipinos. They speak Filipino (a language derived from Spanish) and English.
It is one of the world’s fastest growing economies. Its population grew at a rate of 4% per year between 2000 and 2010. The economy is driven largely by services, followed by manufacturing, construction, agriculture, mining, tourism, transport, finance, and trade. The Philippine peso is the official currency. The GDP growth averaged 6.5 percent annually during the period 1995-2000. However, since 2001, the annual average growth rate has declined to 5.2%. The government is working towards achieving 7% economic growth by 2015. The main industries include textiles, garments, footwear, food processing, petroleum refining, electronics, pharmaceuticals, chemical products, cement, iron and steel, woodworking, furniture making, papermaking, plastics, machinery, automotive parts, auto assembly, transportation equipment, shipbuilding, and fishing. Agriculture remains important, accounting for about 20% of employment and 17% of GNP. Rice is the staple crop, but bananas, coconuts, sugarcane, pineapples, coffee, tea, tobacco, and rubber are also grown. Mining and quarrying account for only 0.6% of total output. Tourism accounts for 10% of GDP.
