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Philippines
This information comes from the assessment conducted in country for the Philippines report, which was published in July 2007.
Company law and, in particular, corporate governance present a challenge, if not an obstacle, to economic development in the Philippines. Resulting from the historical underpinnings of colonialism, much of the corporate wealth in the Philippines is concentrated in a few families and large companies. Despite reforms that, for the most part, put the corporation code in line with international norms, these companies have been able to influence corporate law and policy to limit both domestic and international competition.
| Key Development Data & Statistics |
Year |
Latest Data |
| External debt stocks (% of GNI) |
2007 |
41.9 |
| GDP (current US$) (billions) |
2007 |
144.1 |
| GNI per capita, Atlas method (current US$) |
2007 |
1,620 |
| Population, total (millions) |
2007 |
87.9 |
| Population growth (annual %) |
2007 |
1.9 |
| Exports (current US$) (billions) |
2007 |
49 |
| Imports (current US$) (billions) |
2007 |
58 |
| Top Exports: semiconductors and electronic products, transport equipment, garments |
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| Top Imports: electronic products, mineral fuels, machinery and transport equipment |
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Source: World Bank Group 2009, CIA World Factbook 2009
For additional economic indicators, please visit the World Bank's "Private Sector at a Glance."
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