Time: 7 Nov. to 10 Nov 2019

Location: Manila

The Philippine economy is a typical economy with extremely high domestic demand, and its private consumption accounts for about 70% of GDP. Since the beginning of this year, the Philippine government has significantly increased its investment in infrastructure. It plans to invest more than US$17 billion in highways and airports, which has led to substantial growth in both government consumption and construction sector investment. In the 2012 budget, the government allocated about $8.178 billion for infrastructure construction. In the 2013 budget, that figure rose to $9.756 billion, a record high.

According to data released by the Philippine government on November 28, 2012, the country's gross domestic product (GDP) grew by 7.1% year-on-year in the third quarter of this year, which was higher than market expectations and 6.0% in the second quarter. According to the data, calculated by the expenditure method, the domestic and foreign economic sectors of the Philippines achieved relatively large growth in the third quarter of this year, of which private consumption increased by 6.2% year-on-year and government sector consumption increased by 12%, both higher than the 5.9% and 6.8% in the second quarter. %; investment increased by 4.3% year-on-year, which was significantly lower than the 7.3% in the second quarter, but construction investment increased by 24.8%, significantly higher than the 12.6% in the second quarter; exports increased by 6.9%, down from 8.3% in the second quarter . The data also showed that the Philippine economy grew by 6.5% year-on-year in the first three quarters of this year. In recent years, China-Philippines economic and trade relations have developed rapidly. Among the exported products, building materials and mechanical and electrical products account for more than 50%. With a per capita GDP of over US$1,600, the Philippines is a country with strong purchasing power in ASEAN.