THE PHILIPPINE ADVANTAGE. Secretary Peter B. Favila Department of Trade and Industry. PHILIPPINE ECONOMIC SCORECARD. GDP growth of 5.6% ( S2 2006) Agriculture 5.2% - Industry 5.1% - Services 6.1% Fiscal performance on track Jan to July 2006 revenue collections up by 20%
THE PHILIPPINE ADVANTAGE
Secretary Peter B. Favila
Department of Trade and Industry
PHILIPPINE ECONOMIC SCORECARD
Agriculture 5.2% - Industry 5.1% - Services 6.1%
Jan to July 2006 revenue collections up by 20%
Deficit is PhP B34.1 lower year-on-year
4-year high bolstered by OFW remittance, exports and portfolio investments
2005 Milestones5.1% GDP growth3.9% Export growth149.8% Net FDI growth
FOREIGN TRADE AND INVESTMENT PERFORMANCE
1st Semester 20065.6% GDP growth16.8% Export growth114.6% Net FDI growth
strong performance continues into 2006 . . .
Strong export performance is supported by the continuing diversification of merchandise exports …
US$ 22.7B Exports in 1st Semester 2006
Source: DTI-Tradeline (derived from primary NSO data)
… and the rise of new markets and expansion of trade relations.
EXPORT PERFORMANCE BY REGIONAL BLOCS
Source: BETP (derived from primary NSO data)
FDI flows remain on the uptrend . . .
FOREIGN DIRECT INVESTMENT, net (US$M)
Source: Bangko Sentral ng Pilipinas (BSP)
. . . and investment approvals signal that the growth trend will continue.Total approved investments at US$ 2B in 1st Semester 2006
BOI-PEZA Approved Investments by Sector
January – June 2006
Sources: Board of Investments (BOI) and Philippine Economic Zone Authority (PEZA)
Macroeconomic achievements are carried through at the operating level . . .
Renewed investor confidence
THE PHILIPPINE ADVANTAGE IN e-SERVICES