ebu

_#_Flag: two equal horizontal bands of blue (top) and red with a white
equilateral triangle based on the hoist side; in the center of the
triangle is a yellow sun with eight primary rays (each containing three
individual rays) and in each corner of the triangle is a small yellow
five-pointed star

_*_Economy
_#_Overview: The economy continues to recover from the political
turmoil following the ouster of former President Marcos and several coup
attempts. After two consecutive years of economic contraction (1984 and
1985), the economy has since 1986 had positive growth, although in 1990
the economy slowed considerably from 1989. The agricultural sector
together with forestry and fishing, plays an important role in the
economy, employing about 45% of the work force and providing almost
30% of GDP. The Philippines is the world's largest exporter of coconuts
and coconut products. Manufacturing contributes about 25% of GDP. Major
industries include food processing, chemicals, and textiles.

_#_GNP: $45.2 billion, per capita $700; real growth rate 2.5%
(1990 est.)

_#_Inflation rate (consumer prices): 12.7% (1990 est.)

_#_Unemployment rate: 9.3% (1990 est.)

_#_Budget: $7.2 billion; expenditures $8.12 billion,
including capital expenditures of $0.97 billion (1989 est.)

_#_Exports: revenues $8.1 billion (f.o.b., 1990 est.);

commodities--electrical equipment 19%, textiles 16%, minerals
and ores 11%, farm products 10%, coconut 10%, chemicals 5%, fish 5%,
forest products 4%;

partners--US 36%, EC 19%, Japan 18%, ESCAP 9%, ASEAN 7%

_#_Imports: $12.1 billion (c.i.f., 1990 est.);

commodities--raw materials 53%, capital goods 17%, petroleum
products 17%;

partners--US 25%, Japan 17%, ESCAP 13%, EC 11%, ASEAN 10%,
Middle East 10%

_#_External debt: $28.4 billion (1990)

_#_Industrial production: growth rate 1.9% (1990 est.); accounts
for 30-35% of GNP

_#_Electricity: 6,755,000 kW capacity; 28,000 million kWh produced,
420 kWh per capita (1990)

_#_Industries: textiles, pharmaceuticals, chemicals, wood products,
food processing, electronics assembly, petroleum refining, fishing

_#_Agriculture: accounts for about one-third of GNP and 45% of labor
force; major crops--rice, coconut, corn, sugarcane, bananas, pineapple,
mango; animal products--pork, eggs, beef; net exporter of farm products;
fish catch of 2 million metric tons annually

_#_Illicit drugs: illicit producer of ca