Developing Sectors in Philippines

  

Developing Sectors in Philippines

Asia is one of the developed areas of the world. It is home to largest populated countries. Besides population, the Asian Finance Market is also growing with the passage of time. Nearly all the Asian countries are on the way of progress and different sectors of the countries are attracting investors to invest in the country. Philippine is one of the growing countries of Asia. The country has a developed GDP and in making renovations in lots of its sectors to increase its growth. The areas where Philippine presently focuses are agriculture, automotive, electronics, aerospace, mining, tourism and shipping. By investing in these sectors, investors can get a big blow.

Agriculture in Philippines
The World Bank stated that the agriculture of Philippines adds 12% of GDP of the country in 2013. The agriculture sector ranges from farming to fishing. Coconut is the most produced product of the area. Medium sized farms are well-known for coconut growth in Philippine. Moreover, the country is also known for production of Pineapples. The country is also known for production of rice. The country produces 2.8% of the world's rice in total. Moreover, the country's agriculture sector produces sugar at large scale.
Automotive
The Philippine Automotive Market is very famous for its production of ABS that is used in lots of popular models of the present. Some of the popular brands of the country are Ford, Suzuki, Kia, Toyota, Nissan and Honda. Isuzu is known for production of SUVs in the country. Mitsubishi Motor Company has announced that it will grow up its market in Philippine. China's Cherry Motor Company is making production in Philippines as well.
Aerospace
Aircraft manufacturing parts are built in Philippines. Especially the Boeing and Airbus are famous in the region. Moog is the largest aerospace production unit in the area.
Electronic
Texas Instrument plant is the biggest producer of DSP chips in the country. Nokia cell phone chips are made in the country. Sony Ericson phone chips are exported from Philippines as well. Moreover, Philippines focuses on the production of Hard Disks at present. Lexmark printers are also manufactured in the country. Hence, the electronic industry of Philippines is making lots of progress in increasing GDP of the country. Investors can invest in this arena to add to GDP of the country.
Mining and Extraction
Mineral and geothermal energy resources are found at large scale in the country. In 2003, 27% of country's electricity is produced through geothermal energy resources. Natural gas is also found in some areas of the country. Palawan is a great source of electricity production in the country. The well known mineral in the country are gold, copper, chromites and nickel. Silver, gypsum, coal and sulphur are also found in the country. Moreover, the miners have found a small quantity of marble, limestone, silica, phosphate and clay as well.
Conclusion
The overall GDP of the Philippines is growing and investors are getting towards the growth of the GDP in the country. Nearly all the sectors are making progress and country is facing a huge positive change.

 

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