The Philippines is classified as an emerging market economy. The country has experienced steady growth in recent years, which can be attributed mostly to an increase in inflows of foreign direct investment and remittances. The Philippines is the largest outsourcing center in the world. In addition, the country has a thriving industrial sector that is centered on the production of electronics and other high-tech components for export to foreign firms. The Philippines is abundant in natural resources, it possesses considerable quantities of chromite, nickel, copper, coal, and oil, among other minerals and metals.
A higher than expected figure should be seen as positive (bullish) for the PHP while a lower than expected figure should be seen as negative (bearish) for the PHP.
