6% (October 1998)

Budget:
revenues: $14.5 billion
expenditures: $12.6 billion (1998 est.)

Industries: textiles, pharmaceuticals, chemicals, wood products,
food processing, electronics assembly, petroleum refining, fishing

Industrial production growth rate: -1.7% (1998 est.)

Electricity--production: 32.2 billion kWh (1996)

Electricity--production by source:
fossil fuel: 62.11%
hydro: 20.19%
nuclear: 0%
other: 17.7% (1996)

Electricity--consumption: 32.2 billion kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: rice, coconuts, corn, sugarcane, bananas,
pineapples, mangoes; pork, eggs, beef; fish

Exports: $25 billion (f.o.b., 1998 est.)

Exports--commodities: electronics and telecommunications 51%,
machinery and transport 10%, garments 9%, other 30%

Exports--partners: US 34%, Japan 17%, EU 17%, ASEAN 14%, Hong Kong
4%, Taiwan 4% (1997 est.)

Imports: $29 billion (f.o.b., 1998 est.)

Imports--commodities: raw materials and intermediate goods 43%,
capital goods 36%, consumer goods 9%, fuels 9%

Imports--partners: Japan 21%, US 20%, ASEAN 12%, EU 10%, Taiwan
5%, Hong Kong 4%, Saudi Arabia 4% (1997 est.)

Debt--external: $46.4 billion (September 1998)

Economic aid--recipient: ODA, $1.1 billion (1998)

Currency: 1 Philippine peso (P) = 100 centavos

Exchange rates: Philippine pesos (P) per US$1--38.404 (January
1999), 40.893 (1998), 29.471 (1997), 26.216 (1996), 25.714 (1995),
26.417 (1994)

Fiscal year: calendar year

Communications

Telephones: 1.9 million (1997)

Telephone system: good international radiotelephone and submarine
cable services; domestic and interisland service adequate
domestic: domestic satellite system with 11 earth stations
international: submarine cables to Hong Kong, Guam, Singapore,
Taiwan, and Japan; satellite earth stations--3 Intelsat (1 Indian
Ocean and 2 Pacific Ocean)

Radio broadcast stations: AM 261, FM 55, shortwave 0

Radios: 9.03 million (1992 est.)

Television broadcast stations: 37 (includes six stations of the
US Armed Forces Radio and TV Service) (1997)

Televisions: 9.2 million (1998)

Transportation

Railways:
total: 897 km of which 492 km in operation
narrow gauge: 492 km 1.067-m gauge (1996)

Highways:
total: 161,313 km
paved: 290 km
unpaved: 161,023 km (1997)

Waterways: 3,219 km; limited to shallow-draft