Market Snapshot CANADA
Content
Market Snapshot
The Philippines registered a total gross domestic product (GDP) of US$167.5 billion
in 2013. RealGDP growth is estimated at 6.5% for 2014, slightly lower than the
previous year.
According to Euromonitor, the Philippines is the 18th-most populous country in the
world with an estimated 98.4 million people in 2013. The population is expected to
grow to 105.2 million by 2017, and then to 110.4 million by 2020.
The Philippines had one of the world's youngest populations with a median age of
23 years in 2013. Euromonitor predicts that by the year 2030, the fastest growing
age group will be 60+, but the Philippines will still remain one of the youngest
countries with 71.4% of the population under the age of 40.
Annual per capita consumer expenditure was US$2,061 in 2013. Spending on food
and non-alcoholic beverages represents US$874.7, or approximately 42.4% of that
total, higher than the Asia Pacific average of 22.7%, and also higher than Canada's
proportion of 9.6%.
The foodservice industry is expanding as income levels improve, and is forecasted
to reach total value sales of US$10.7 billion by 2014.
As the population continues to become more health conscious, sales of health and
wellness products will continue to rise. Sales in the health and wellness category are
expected to grow by 6.5% from 2013 to 2015 to reach a total of US$6.2 billion.
The agriculture sector employs 32% of the work force and is estimated at 11.2%
of GDP (World Factbook, 2014).
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Production
As shown in the table below, sugar cane, rice paddy and coconuts are the top
domestic crops in the Philippines, with the leading positions in terms of volume
production for the 2008 to 2012 period. However, there was no increase in sugar
cane volume production from 2011 to 2012, and it actually decreased by 3.1% over
the 2008 to 2012 period. In contrast, rice paddy production increased by 8.1% in
2012 from the 2011 total, but only increased by 1.8% over the entire review period.
Maize production recorded the second best volume growth in 2012 with 6.3%,
while fresh vegetables made up ground from their loss in 2010. Across the whole
period, cassava, currently the Philippines ninth-largest crop, registered the strongest
growth in volume production with 3.4% over the review period.
The Philippines registered a total gross domestic product (GDP) of US$167.5 billion
in 2013. RealGDP growth is estimated at 6.5% for 2014, slightly lower than the
previous year.
According to Euromonitor, the Philippines is the 18th-most populous country in the
world with an estimated 98.4 million people in 2013. The population is expected to
grow to 105.2 million by 2017, and then to 110.4 million by 2020.
The Philippines had one of the world's youngest populations with a median age of
23 years in 2013. Euromonitor predicts that by the year 2030, the fastest growing
age group will be 60+, but the Philippines will still remain one of the youngest
countries with 71.4% of the population under the age of 40.
Annual per capita consumer expenditure was US$2,061 in 2013. Spending on food
and non-alcoholic beverages represents US$874.7, or approximately 42.4% of that
total, higher than the Asia Pacific average of 22.7%, and also higher than Canada's
proportion of 9.6%.
The foodservice industry is expanding as income levels improve, and is forecasted
to reach total value sales of US$10.7 billion by 2014.
As the population continues to become more health conscious, sales of health and
wellness products will continue to rise. Sales in the health and wellness category are
expected to grow by 6.5% from 2013 to 2015 to reach a total of US$6.2 billion.
The agriculture sector employs 32% of the work force and is estimated at 11.2%
of GDP (World Factbook, 2014).
Top of content
Production
As shown in the table below, sugar cane, rice paddy and coconuts are the top
domestic crops in the Philippines, with the leading positions in terms of volume
production for the 2008 to 2012 period. However, there was no increase in sugar
cane volume production from 2011 to 2012, and it actually decreased by 3.1% over
the 2008 to 2012 period. In contrast, rice paddy production increased by 8.1% in
2012 from the 2011 total, but only increased by 1.8% over the entire review period.
Maize production recorded the second best volume growth in 2012 with 6.3%,
while fresh vegetables made up ground from their loss in 2010. Across the whole
period, cassava, currently the Philippines ninth-largest crop, registered the strongest
growth in volume production with 3.4% over the review period.
