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Market Research in Philippines

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Country File: Philippines

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The Economy


GDP: $257 billion
GDP per capita: $2,614
GDP by sector: Industry (33.3%);
Services (54.4%);
Agriculture (12.3%)
GDP Growth: 7.5% (est 2013)
The Philippines is a growing, newly industrialised economy. It is currently one of Asia's fastest growing economies, with a developing services and manufacturing economy.

In 2012 the Philippines saw growth rates in GDP of 6.8%. Its growth has previously been behind the other Asian Tiger Economies. Yet, independent forecasters are consistently pointing to continued growth of the Philippines economy. HSBC have forecast that the Philippines will become the 16th largest economy in the world and the 5th largest in Asia by 2050.

The Philippines economic growth is not without problems, including disparities of income and wealth, corruption and the need for investment in infrastructure.

Main exports include semi conductors, electronic products, garments, copper and petroleum.

Agriculture still makes up 12% of the economy and employs 33% of the workforce. But the Philippines has major industries in Automotive, Shipbuilding, Aerospace and Electronics. It is also very active in Business Services Outsourcing, with advantages of low labour costs and proficient use of English language. It is estimated that 700,000 people work in Business Processing Outsourcing, mainly for US corporations, making it a major competitor to the Indian Outsourcing Industry.

Its main trading partners in Asia are China (19%) , Singapore (13%) and Japan (12%). The US is also a major export market (13%) Total exports in 2011 were estimated at $54 billion and had imports of $68 billion.
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Demographics

Population: 92 million
The Philippines population is growing rapidly. In the 2010 Census it was recorded at 92 million (92,337,852). It is estimated to reach 101.2 million by 2014.
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Languages & Ethnic Groups


Official Language: Filipino and English

There are hundreds of varieties (dialects) but since the 1930s the Government has promoted the national Filipino language. English is also considered a national language.

The majority of people are of Austronesian descent. Other ethnic groups include Spaniard, Indian, Chinese, American and Japanese.

Most people in the Philippines are Roman Catholic (80%) but there are also other Christian denominations.
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Business & Consumer Culture


According to the World Bank in 2013, the Philippines ranks relatively poorly - 133 out of 189 friendly countries to do business. However, in the area of Business Outsourcing it is rated very favourably and is seen as a significant competitor to India for Outsourcing IT and Call Centre operations.

With a growing economy and young labour force, the Philippines is becoming an active consumer economy which increasingly resembles western style consumerism. As such it is attracting significant investment from a range of consumer brands from the US and Japan.
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Market Research in the Philippines



Currency: Philippine Peso (PHP)
Smartphone ownership: 15%
Internet Users: 22.0 m (2010) (20%)


Online market research is increasingly being conducted in the Philippines. Asia Opinions currently can access 35,000 online panellists directly and works with other panel partners. Surveys can be conducted in English, although Filipino may also need to be used depending on the audience and subject.