Diving is popular among tourists as they explore the country's underwater beauty. The nation's biodiversity is a major magnet for tourists particularly in the nation's rainforests and mountains. The Philippines' government places a lot of emphasis on advertisement as a way to draw tourists and invests heavily in convincing foreigners to visit the state. ![]() The number of tourists visiting the country has also increased from 5,360,682 individuals in 2015 to 6,620,908 tourists in 2017. More employees have been employed in the industry as in 2015 close to 5 million of the nation's citizens worked in tourism. Over the years the contribution of tourism to the economy has increased as in 2015 the sector added 10.6% to the national gross domestic product. In 2013, tourism contributed approximately 7.1% of the national gross domestic product. In 2011, the tourism industry in the Philippines had about 3.8 million workers who accounted for 10.2% of the total employment in that year. Tourism is an essential component of the economy of the Philippines due to the substantial contribution it makes to the gross domestic product as well as the vast number of people employed in the sector. Biggest Industries in the Philippines Tourism In the 1990's, the government initiated a policy of economic liberalization which aided economic recovery in the country. Poor leadership caused a reverse in the gains made, and for a while, the nation's economy was in recession. ![]() After the Second World War, economic growth surged and earned the Philippines the title of the second most affluent nation in East Asia. The government of the Philippines initiated a program to reduce the economy's reliance on agriculture and instead focus on service and manufacturing industries. In 2014 the national unemployment rate was at 6% which had dropped to 5.5% in June 2018 according to data from Trading Economics. The country has a significant labor force made up of about 40.8 million individuals who represent close to 40% of the nation's total population. The nation exports a wide array of products both manufactured goods such as electronic equipment and agricultural commodities such as fruits. The Philippines conducts trade with some countries such as the US, China, and the Netherlands. According to 2017 estimates, the gross domestic product of the Philippines was estimated at $348.6 billion which earned the country position as the 34th largest economy globally. The Philippines is a 120,000 square mile nation in Southeast Asia made up of 7,641 islands. The fastest growing import markets in Coconut Oil for Philippines between 20 were Malaysia ($11.5M), Indonesia ($6.49M), and Germany ($115k).The Biggest Industries In The Philippines Rice terraces of the Philippines. Philippines imports Coconut Oil primarily from: Indonesia ($34.4M), Malaysia ($20.5M), Germany ($115k), France ($33.1k), and Vietnam ($29.4k). At the same year, Coconut Oil was the 344th most imported product in Philippines. ![]() Imports In 2021, Philippines imported $55.2M in Coconut Oil, becoming the 25th largest importer of Coconut Oil in the world. The fastest growing export markets for Coconut Oil of Philippines between 20 were Netherlands ($186M), Germany ($64.1M), and Indonesia ($61.5M). ![]() The main destination of Coconut Oil exports from Philippines are: Netherlands ($426M), United States ($342M), Malaysia ($108M), Germany ($105M), and Indonesia ($99.8M). At the same year, Coconut Oil was the 7th most exported product in Philippines. Exports In 2021, Philippines exported $1.55B in Coconut Oil, making it the 2nd largest exporter of Coconut Oil in the world.
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