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A black market in Shinbashi in 1946. Illegal street traders in Barcelona in 2015. A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is not compliant with an institutional set of rules. If the rule defines the set of goods and services whose production ...
The economy saw continuous real GDP growth of at least 5% since 2012. The Philippine Stock Exchange index ended 2012 with 5,812.73 points a 32.95% growth from the 4,371.96-finish in 2011. [80] The Philippines achieved an investment grade rating for the first time in the first quarter of 2013.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [ 31 ] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
Informal economy: Haircut on a sidewalk in Vietnam. An informal economy (informal sector or grey economy) [1][2] is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as ...
Economic history of the Philippines (1965–1986) The 21-year period of Philippine economic history during Ferdinand Marcos’ regime – from his election in 1965 until he was ousted by the People Power Revolution in 1986 – was a period of significant economic lows. [1][2][3][4] The early part of Ferdinand Marcos ' administration continued ...
The Japanese occupation of the Philippines (Filipino: Pananakop ng mga Hapones sa Pilipinas; Japanese: 日本のフィリピン占領, romanized: Nihon no Firipin Senryō) occurred between 1942 and 1945, when the Japanese Empire occupied the Commonwealth of the Philippines during World War II. The invasion of the Philippines started on 8 ...
The history of the Philippines from 1898 to 1946 is known as the American colonial period, and began with the outbreak of the Spanish–American War in April 1898, when the Philippines was still a colony of the Spanish East Indies, and concluded when the United States formally recognized the independence of the Republic of the Philippines on ...
The Philippine economy is the world's 34th largest, with an estimated 2023 nominal gross domestic product of US$435.7 billion. [14] As a newly industrialized country, [368] [369] the Philippine economy has been transitioning from an agricultural base to one with more emphasis on services and manufacturing.