The Philippines or the Republic of the Philippines (officially), is a Southeast Asian country. It is an archipelago of 7,107 islands located in the western Pacific Ocean. Manila is its capital city.

The Philippines or the Republic of the Philippines (officially), is a Southeast Asian country. It is an archipelago of 7,107 islands located in the western Pacific Ocean. Manila is its capital city.

Geographically, the Philippines can be divided into three parts, namely, Luzon, Visayas, and Mindanao. With all these islands combined, the country’s coastline is the fifth longest in the world, spanning 36,289 kilometers. It is considered as Asia’s largest Catholic country of Asia, since Spanish colonial times. Further, the Philippines is the world’s 12^th most populated country with approximately 92 million people (as of 2009).

The country can be reached by plane. Other means of traveling are not feasible as the Philippines is an archipelago. Some major airports are in Manila, Cebu, Davao, Clark (Angeles), Kalibo, Laoag, Subic (Zambales), and Zamboanga.

Philippines Economy: Profile

Visit our Economic Statistics Database for more facts and figures on the Philippines

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Major Kenya Industry Sectors

Kenya’s industry sectors consist of mining, horticulture, tourism, manufacturing, electricity and information technology. Agriculture is the mainstay of the Kenyan economy. It engages more than 75% of the population and contributes almost 21% to the country’s GDP. However, industrial output accounts for only 16% of the national production.[br]

Major Kenya Industry Sectors

Some of the major Kenya industry sectors are:

• Mining: Kenya’s mining sector consists of non-metallic minerals. The country has considerable reserves of industrial minerals, such as soda ash, kaolin, flourspar and gemstones. The mining sector is not fully developed in the country and contributes less than 1% to the GDP. Since 2000, the country has invested in gold mining in the Lake Victoria greenstone belt region. Exploration surveys are being conducted in the south-eastern coast, which is a potential site for metallic mineral ores. 

• Oil: Kenya has an underdeveloped upstream oil sector. The government is taking initiatives to foster foreign investment to boost the oil industry. A majority of the petroleum consumed is imported from other African nations. It is the major source of commercial energy, accounting for almost 80% of the gross energy requirements. 

• Electricity: Almost 60% of Kenya’s electricity is generated through five hydro-power plants on River Tana. The thermal power plant is located in the capital city of Nairobi. Geo-thermal power is also produced through natural steam, generated from volcanic zones in the Rift Valley. State-owned KenGen is the leading power generation company. 

• Tourism: The tourism industry is the leading foreign exchange earner for Kenya. The country has several attractions for tourists such as wild safaris, beach resorts and theme parks. 

• Horticulture: Kenya is one of the major producers and exporters of horticultural products in the world. A large part of the production is exported to the EU, duty free. 

• ICT: Kenya is one of the fastest growing African nations in terms of the IT sector. The country has several internet service providers. With infrastructural aid from India, e-governance services were launched in 2008.[br]

Owing to trade liberalization policies, Kenya’s industry sectors have witnessed tremendous growth after 2003. However, since 2008, foreign investment is again depleting due to an increase in corruption cases. 

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Montenegro has bountiful natural resources, chiefly aluminum and bauxite. This, in addition to adequate water supplies and a climate conducive of agriculture, has resulted in a thriving industry sector in Montenegro. In fact, Montenegro industry sectors have been a key contributor to the nation’s economy since the World War II, primarily with the establishment of Montenegro’s bauxite-alumina-aluminum industry. The sector, however, suffered because of high production costs after the first energy crisis of 1973. Noticeable recovery of the sector began after Montenegro adopted the deutschmark (DM) as its official currency in 1999. The nation officially adopted the Euro in 2002.[br]

Montenegro Industry Sectors: Major Contributors

Montenegro industry sectors have been the cornerstone of the nation’s development over the last 5 decades. Metallurgy (aluminum and steel), power and transport infrastructure are the key industries in the nation. Presently, Montenegro industry sectors have the capacity to produce over 1,000,000 tons of bauxite, 100,000 tons of aluminum and 3 billion KWh of power per annum.

About 90% of the sector’s produce is exported, thereby helping the country to earn higher foreign exchange.

Other significant contributors of Montenegro industry sectors are:

• Wood-processing

• Textile, chemical

• Leather and footwear

• Household appliances

• Construction and building trade

   

Additionally, Montenegro industry sectors constitute several processing units, which are supportive of the nation’s agricultural sector. This includes fish-processing plants, flour mills, breweries and wine cellars.

Montenegro Industry Sectors: Current Scenario

Montenegro, a part of the Federal Republic of Yugoslavia (FRY) till 2006, had a weak economy due to constant wars in the region. However, due to rapid modernization of Montenegro industry sectors and adequate government investments, the Montenegrin economy is expected to become competitive in the global market.[br]

Montenegro industry sectors are currently attracting large scale private investment as a result of the nation’s business-friendly investment environment. Montenegro had the lowest corporate tax rate in the Euro region, which was 9% in 2008. According to industry reports, over 85% of the capital value in Montenegro industry sector companies was privatized by mid- 2009.

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The World Trade Organization’s (WTO) estimates revealed that Tanzania’s trade, exports and imports represented 61.4% of the GDP during 2006-2008. In 2008, Tanzania’s merchandise exports amounted to more than $3 billion, while merchandise imports amounted to over $7 billion. In 2008, commercial service exports amounted to over $1.9 billion, while commercial service imports stood at over $1.6 billion.[br] Tanzania’s exports to the European Union (EU) dropped by €56.47 million in 2008 due to falling demand for commodities in the EU member nations. In 2007, total exports to the EU were worth €382.76 million, but dropped to €326.29 million in 2008. On the other hand, imports from the EU increased by €74 million in 2008 to widen the trade gap between Tanzania and the EU by €478.246 million, up from a deficit of €347.769 million in 2007.

Tanzania, a member of the East African Community (EAC), mainly exports agricultural products to Europe. Tanzania’s major imports include machinery and technical equipment from Europe. The signing of Economic Partnership Agreements (EPA) would enable Tanzania and rest of the EAC to export more to the EU markets by addressing the regions’ supply constraints.

Tanzania Trade: Exports

Tanzania’s primary export commodities include gold, coffee, cashew nuts, manufactured products and cotton. The country’s exports in 2009 were worth $2.744 billion, up from $2.413 billion in 2008. The following chart shows Tanzania’s distribution of its export partners. All data are in percentages.

[br]

Tanzania Trade: Imports

Tanzania’s primary import commodities include consumer goods, machinery and transportation equipment, industrial raw materials, and crude oil. The country’s imports were worth $5.545 billion in 2009, down from $7.08 billion in 2008. The following chart shows Tanzania’s distribution of its import partners. All data are in percentages.

Tanzania Trade: Exchange Rates

Tanzania’s currency is the Tanzanian shilling (TZS). The exchange rate of the TZS against the US dollar has been as follows:

1,317.5 (2009),

1,178.1 (2008),

1,255 (2007),

1,251.9 (2006), and

1,128.93 (2005)

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 South Africa’s trade, exports and imports are heavily dependent on the nation’s natural resources and the government’s highly liberal trade incentives. South Africa recorded a trade surplus of R3.7 billion in December 2009, according to the South African Revenue Service (SARS). The surplus resulted from a decrease in imports of 13.73% and a decrease in exports of 1.08%. In December, exports amounted to R45.36 billion and imports amounted to R41.69 billion resulting in a surplus of R3.67 billion. The cumulative trade deficit for 2009 was R25.84 billion.

 South Africa’s trade, exports and imports are heavily dependent on the nation’s natural resources and the government’s highly liberal trade incentives. South Africa recorded a trade surplus of R3.7 billion in December 2009, according to the South African Revenue Service (SARS). The surplus resulted from a decrease in imports of 13.73% and a decrease in exports of 1.08%. In December, exports amounted to R45.36 billion and imports amounted to R41.69 billion resulting in a surplus of R3.67 billion. The cumulative trade deficit for 2009 was R25.84 billion. Compared to a deficit of R71.63 in 2008, this represents a decline of R45.79 billion or 64%.[br]

South Africa Trade: Exports

South Africa’s primary export commodities include gold, diamonds, platinum, other metals and minerals, machinery and equipment. South Africa’s exports were worth $67.93 billion in 2009, down from $86.12 billion in 2008. The following chart shows the distribution of South Africa’s export partners. All data are in percentages.

[br]

South Africa: Imports

South Africa’s primary import commodities include machinery and equipment, chemicals, petroleum products, scientific instruments, and food materials. South Africa’s imports were worth $70.24 billion in 2009, down from $90.57 billion in 2008. The following chart shows the distribution of South Africa’s import partners. All data are in percentages.

South Africa Trade: Exchange Rates

The following graph shows South Africa’s main currency, the Rand’s (ZAR) exchange rates in comparison to the US dollar during 2005-2009.

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 South Africa unveiled its new industrial policy in February 2010 to specifically target capital goods, transportation equipment and metal fabrication, aiming to boost manufacturing capacity and increase employment. South African government officials are hoping that this new industrial policy will add more than 500,000 jobs in the sectors badly hurt by the recession of 2008-09. The following chart illustrates South Africa’s industrial production growth rate during 2003-2009, and the forecast rate for 2010. All data are in percentages.[br]

 South Africa unveiled its new industrial policy in February 2010 to specifically target capital goods, transportation equipment and metal fabrication, aiming to boost manufacturing capacity and increase employment. South African government officials are hoping that this new industrial policy will add more than 500,000 jobs in the sectors badly hurt by the recession of 2008-09. The following chart illustrates South Africa’s industrial production growth rate during 2003-2009, and the forecast rate for 2010. All data are in percentages.[br]

South Africa Industries: Mining

The mining industry in South Africa is a pillar of the nation’s industrial structure. It is the fifth largest contributor to the GDP. This industry is the country’s largest employer, and the industry’s expertise is globally recognized. However, due to the global recession, the mining industry experienced a series of disastrous events, such as a fall in commodity prices and consumer demand. This led to production cuts and cutbacks on major projects.

Mining production fell alarmingly in 2009 after the highs of January 2005. Mineral sales dropped 30% between October 2008 and October 2009. The increased levels of production, however, between October 2009 and November 2009 are hopefully a sign for more optimism in this sector. The turnaround for this industry has been attributed to a gradual rise in oil and commodity prices worldwide, weakening of the US dollar, and the resurgence of the Chinese economy.

The outlook in 2010 for this sector will hinge on the growth of global demand of minerals in China and other emerging markets. It will also depend on the slow recovery of the US and European economies, as these regions are South Africa’s major export partners.

According to Frost and Sullivan, the challenges for the mining industry include shortages in electricity supplies, and skills and safety concerns. The recovery of commodity prices, particularly for gold, platinum and coal, is also likely to lead to increased wage demands from the labor unions.[br]

South Africa Industries: Tourism

South Africa’s natural beauty, magnificent outdoor life, good climate and cultural diversity have made the country an ideal destination for foreign tourists. International travel to South Africa has increased manifold since the ban on apartheid policies in the early 1990s. This sector is also a major contributor to the GDP. Whether it is business tourism, cultural tourism, eco-tourism, paleo tourism, adventure tourism or sports tourism, South Africa has something for everyone.

South Africa’s sports tourism sector has blossomed in recent times. Due to numerous sporting tournaments like the 1995 Rugby World Cup, the 2003 Cricket World Cup, the Women’s World Cup of Golf 2005-2008, the inaugural World Twenty20 Cricket Championships in 2007, and the A1GP World Cup of Motorsport, held in Durban in 2006, 2007 and 2008, this sub-sector has emerged at the forefront of the tourism industry. Now the country is gearing up for millions of tourists for the FIFA World Cup in June and July 2010.

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Europe’s economic structure has been strengthened by the creation of the European Union. The presence of a common currency has not only fostered relationships and free movement, but also trade. This has generated a massive wave of productivity and accumulative economic reforms, which have been able to lift ‘the not so developed’ eastern European economies to international standards.[br]

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 The major world cities economies like New York City, London, Tokyo, Dubai, etc. took a beating as a result of the adverse impacts of the global financial crisis of 2008-2009. New York City, London and Tokyo posted a GDP –PPP of $1406 billion, $565 billion and $1479 billion in 2008.[br]

 The major world cities economies like New York City, London, Tokyo, Dubai, etc. took a beating as a result of the adverse impacts of the global financial crisis of 2008-2009. New York City, London and Tokyo posted a GDP –PPP of $1406 billion, $565 billion and $1479 billion in 2008.[br]

Global City Economy: London

London’s economy has performed remarkably well during the downturn, as compared to the rest of the UK. However, with the economy recovering, London may well struggle a bit in the initial stages of the upturn. Confidence continues to be low in the financial services industry, which plays a larger role in London’s economy than in the rest of the UK. The UK retail sector had an upbeat run up to Christmas, according to the British Rail Consortium (BRC). The BRC retail figures for December 2009 looked particularly strong when compared to the figures from December 2008. However, in January 2010, there has been a lull in sales. Early data indicators from Experian suggest that the VAT increase and snow has had a significant impact on shopping patterns in early 2010 with overall shopper numbers in non-food retail stores on Sunday, January 10, falling 14% as compared to the equivalent Sunday last year. The inflation in the UK rose to 2.4% from 0.3% in November 2009 due to a reduction in VAT to 15%, sharp decreases in petrol prices and heavy discounts to consumers by retailers.

Global City Economy: New York City

After Lehman Brothers collapsed and other Wall Street firms threatened to topple, the economy of the Big Apple was heading for a disaster. However, as the economy improved due to Fed bailouts of the big banks, New York City became better positioned than before to handle a large scale economic shock. The unemployment rate in NYC hit 10.6% in December 2009, well in tune with the rest of USA’s rate. According to Moody’s Economy, job losses in the metropolitan area in the next few months would amount to less than 4 % of the region’s total employment at the peak of the last boom. Mayor Michael Bloomberg pointed to factors like tourism, housing prices and office vacancy rates, which have weathered the crisis better than their Chicago or LA counterparts.[br]

Major Banks like Citigroup received $45 billion in aid, JP Morgan Chase got $25 billion, and Goldman Sachs and Morgan Stanley got $10 billion each. One could argue that no other city in the US got as much Federal aid as NYC. 

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 Sweden’s industry sectors plan to invest SEK 51.8 billion in current prices in 2010, an increase of 5% as compared to the 2009 level. Investments in Swedish industries fell sharply in 2009, with an overall decline of 28% in investment volumes, as compared to 2008. The investment plans of 2009 displayed a decrease in investment volumes in many sectors of the industry in 2010. According to the survey conducted by Statistica Centralbryan in Feb 2010, the industry showed a slight increase in investment volumes in 2010, with 5% growth in current prices.[br] 

 Sweden’s industry sectors plan to invest SEK 51.8 billion in current prices in 2010, an increase of 5% as compared to the 2009 level. Investments in Swedish industries fell sharply in 2009, with an overall decline of 28% in investment volumes, as compared to 2008. The investment plans of 2009 displayed a decrease in investment volumes in many sectors of the industry in 2010. According to the survey conducted by Statistica Centralbryan in Feb 2010, the industry showed a slight increase in investment volumes in 2010, with 5% growth in current prices.[br] 

In a number of industrial sectors, investments are expected to rise in 2010. Manufacturers of wood products and basic metals are forecasted to increase investment volumes up to 35% and 25%, respectively, as compared to 2009. Firms in the textile industry plan to increase investments by nearly 20% and manufacturers of rubber and plastic products plan to increase investments by 15% in 2010, as compared to 2009. On the other hand, investments are expected to take a dip in 2010 as compared to 2009 in the mining and electronic equipment industry companies.

Sweden Industries: Tourism

The Swedish tourism industry withstood the ravages of the recession much better than its European counterparts. According to a survey conducted in 2009, more than 80% of the companies in the tourism industry have not laid off any worker. Many actually hired more workers during the period. In the ‘Capital Market Day’ held every year in Stockholm, tourism was one of the hottest sectors dominating the event in 2009. According to Urban Karlstrom, Sweden’s State Secretary to the Minister for Local Government and Financial Markets, tourism has helped sustain Sweden’s development for a long time. Much of the popularity of Sweden’s tourism industry can be attributed to the exchange rate, which makes Sweden an attractive proposition for foreign tourists.

Sweden Industries: Automobile[br]

To support the struggling automobile industry, the Swedish government has spun off a venture capital firm to make some investments in 2010 as private equity firms have stopped financing. Fouriertransform AB, created by the government, has already been approached by more than 50 firms looking for financing. Fouriertransform received $419 million in 2009 and has funneled a total of $36 million to four private companies and NovaCast Technologies AB, a publicly traded manufacturer of tool and die products for car parts.

In Sweden, as many as 40,000 workers in the auto industry have lost their jobs. Major automakers like Volvo, Saab and GM has trimmed many positions, with Saab filing for bankruptcy. 

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