P), Salvador H. LAUREL, president

Member of: APEC, AsDB, ASEAN, CCC, CP, ESCAP, FAO, G-24, G-77, GATT,
IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO,
INMARSAT, INTELSAT, INTERPOL, IOC, IOM, ISO, ITU, NAM, UN, UNCTAD,
UNESCO, UNHCR, UNIDO, UNU, UPU, WCL, WFTU, WHO, WIPO, WMO, WTO

Diplomatic representation in US:
chief of mission: Ambassador Raul Chaves RABE
chancery: 1600 Massachusetts Avenue NW, Washington, DC 20036
telephone: [1] (202) 467-9300
FAX: [1] (202) 328-7614
consulate(s) general: Agana (Guam), Chicago, Honolulu, Houston, Los
Angeles, New York, San Francisco, and Seattle
consulate(s): San Diego and San Jose (Saipan)

US diplomatic representation:
chief of mission: Ambassador John D. NEGROPONTE
embassy: 1201 Roxas Boulevard, Ermita Manila 1000
mailing address: APO AP 96440
telephone: [63] (2) 521-71-16
FAX: [63] (2) 522-43-61
consulate(s): Cebu

Flag: two equal horizontal bands of blue (top) and red with a white
equilateral triangle based on the hoist side; in the center of the
triangle is a yellow sun with eight primary rays (each containing
three individual rays) and in each corner of the triangle is a small
yellow five-pointed star

@Philippines:Economy

Overview: Domestic output in this primarily agricultural economy
failed to grow in 1992 and rose only slightly in 1993. Drought and
power supply problems hampered production, while inadequate revenues
prevented government pump priming. Worker remittances helped to
supplement GDP. A marked increase in capital goods imports,
particularly power generating equipment, telecommunications equipment,
and electronic data processors, contributed to 20% annual import
growth in 1992-94. Provided the government can cope with the
substantial trade deficit and meet the fiscal targets agreed to with
the IMF, the Philippines should duplicate the strong growth
performance of 1994 in 1995-96.

National product: GDP - purchasing power parity - $161.4 billion (1994
est.)

National product real growth rate: 4.3% (1994 est.)

National product per capita: $2,310 (1994 est.)

Inflation rate (consumer prices): 7.1% (1994 est.)

Unemployment rate: 9% (1994)

Budget:
revenues: $14 billion
expenditures: $15.4 billion, including capital expenditures of $NA
(FY94/95 est.)

Exports: $13.4 billion (f.o.b., 1994)
commodities: electronics, textiles, coconut products, copper, fish
partners: US 39%,