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Economy
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Economy
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Overview
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Economic activity is limited to servicing meteorological and geophysical research stations, military bases, and French and other fishing fleets. The fish catches landed on Iles Kerguelen by foreign ships are exported to France and Reunion.
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Philippine GDP growth, which cooled from 7.6% in 2010 to 3.9% in 2011, expanded to 6.6% in 2012 - meeting the government's targeted 6%-7% growth range. The 2012 expansion partly reflected a rebound from depressed 2011 export and public sector spending levels. The economy has weathered global economic and financial downturns better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a rapidly expanding business process outsourcing industry. The current account balance had recorded consecutive surpluses since 2003; international reserves are at record highs; the banking system is stable; and the stock market was Asia's second best-performer in 2012. Efforts to improve tax administration and expenditure management have helped ease the Philippines' tight fiscal situation and reduce high debt levels. The Philippines received several credit rating upgrades on its sovereign debt in 2012, and has had little difficulty tapping domestic and international markets to finance its deficits. Achieving a higher growth path nevertheless remains a pressing challenge. Economic growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration but poverty worsened during her term. Growth has accelerated under the AQUINO government, but with limited progress thus far in bringing down unemployment, which hovers around 7%, and improving the quality of jobs. Underemployment is nearly 20% and more than 40% of the employed are estimated to be working in the informal sector. The AQUINO administration has been working to boost the budgets for education, health, cash transfers to the poor, and other social spending programs, and is relying on the private sector to help fund major infrastructure projects under its Public-Private Partnership program. Long term challenges include reforming governance and the judicial system, building infrastructure, improving regulatory predictability, and the ease of doing business, attracting higher levels of local and foreign investments. The Philippine Constitution and the other laws continue to restrict foreign ownership in important activities/sectors (such as land ownership and public utilities).
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Environment
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Current issues
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introduction of foreign species on Iles Crozet has caused severe damage to the original ecosystem; overfishing of Patagonian toothfish around Iles Crozet and Iles Kerguelen
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uncontrolled deforestation especially in watershed areas; soil erosion; air and water pollution in major urban centers; coral reef degradation; increasing pollution of coastal mangrove swamps that are important fish breeding grounds
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Geography
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Area
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Comparative
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<strong>Ile Amsterdam (Ile Amsterdam et Ile Saint-Paul): </strong>less than one-half the size of Washington, DC<br /><strong>Ile Saint-Paul (Ile Amsterdam et Ile Saint-Paul):</strong> more than 10 times the size of The Mall in Washington, DC<br /><strong>Iles Crozet:</strong> about twice the size of Washington, DC<br /><strong>Iles Kerguelen:</strong> slightly larger than Delaware<br /><strong>Bassas da India (Iles Eparses):</strong> land area about one-third the size of The Mall in Washington, DC<br /><strong>Europa Island (Iles Eparses):</strong> about one-sixth the size of Washington, DC<br /><strong>Glorioso Islands (Iles Eparses):</strong> about eight times the size of The Mall in Washington, DC<br /><strong>Juan de Nova Island (Iles Eparses):</strong> about seven times the size of The Mall in Washington, DC<br /><strong>Tromelin Island (Iles Eparses):</strong> about 1.7 times the size of The Mall in Washington, DC
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slightly larger than Arizona
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Geography
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Climate
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<strong>Ile Amsterdam et Ile Saint-Paul: </strong>oceanic with persistent westerly winds and high humidity<br /><strong>Iles Crozet:</strong> windy, cold, wet, and cloudy<br /><strong>Iles Kerguelen:</strong> oceanic, cold, overcast, windy<br /><strong>Iles Eparses:</strong> tropical
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tropical marine; northeast monsoon (November to April); southwest monsoon (May to October)
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Geography
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Coastline
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2,948.4 km
Ranked 41st.
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36,289 km
Ranked 5th.
12 times more
than
French Southern and Antarctic Lands
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Geography
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Geographic coordinates
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<strong>Ile Amsterdam (Ile Amsterdam et Ile Saint-Paul): </strong>37 50 S, 77 32 E<br /><strong>Ile Saint-Paul (Ile Amsterdam et Ile Saint-Paul):</strong> 38 72 S, 77 53 E<br /><strong>Iles Crozet:</strong> 46 25 S, 51 00 E<br /><strong>Iles Kerguelen:</strong> 49 15 S, 69 35 E<br /><strong>Bassas da India (Iles Eparses):</strong> 21 30 S, 39 50 E<br /><strong>Europa Island (Iles Eparses):</strong> 22 20 S, 40 22 E<br /><strong>Glorioso Islands (Iles Eparses):</strong> 11 30 S, 47 20 E<br /><strong>Juan de Nova Island (Iles Eparses):</strong> 17 03 S, 42 45 E<br /><strong>Tromelin Island (Iles Eparses):</strong> 15 52 S, 54 25 E
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13 00 N, 122 00 E
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Geography
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Location
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southeast and east of Africa, islands in the southern Indian Ocean, some near Madagascar and others about equidistant between Africa, Antarctica, and Australia
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Southeastern Asia, archipelago between the Philippine Sea and the South China Sea, east of Vietnam
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Geography
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Natural resources
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fish, crayfish
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timber, petroleum, nickel, cobalt, silver, gold, salt, copper
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Geography
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Terrain
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<strong>Ile Amsterdam (Ile Amsterdam et Ile Saint-Paul): </strong>a volcanic island with steep coastal cliffs; the center floor of the volcano is a large plateau<br /><strong>Ile Saint-Paul (Ile Amsterdam et Ile Saint-Paul):</strong> triangular in shape, the island is the top of a volcano, rocky with steep cliffs on the eastern side; has active thermal springs<br /><strong>Iles Crozet:</strong> a large archipelago formed from the Crozet Plateau is divided into two groups of islands<br /><strong>Iles Kerguelen:</strong> the interior of the large island of Ile Kerguelen is composed of rugged terrain of high mountains, hills, valleys, and plains with a number of peninsulas stretching off its coasts<br /><strong>Bassas da India (Iles Eparses):</strong> atoll, awash at high tide; shallow (15 m) lagoon<br /><strong>Europa Island, Glorioso Islands, Juan de Nova Island:</strong> low, flat, and sandy<br /><strong>Tromelin Island (Iles Eparses):</strong> low, flat, sandy; likely volcanic seamount
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mostly mountains with narrow to extensive coastal lowlands
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Government
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Administrative divisions
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none (overseas territory of France); there are no first-order administrative divisions as defined by the US Government, but there are five administrative districts named Iles Crozet, Iles Eparses, Iles Kerguelen, Ile Saint-Paul et Ile Amsterdam; the fifth district is the "Adelie Land" claim in Antarctica that is not recognized by the US
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80 provinces and 39 chartered cities<br /><strong>provinces:</strong> Abra, Agusan del Norte, Agusan del Sur, Aklan, Albay, Antique, Apayao, Aurora, Basilan, Bataan, Batanes, Batangas, Biliran, Benguet, Bohol, Bukidnon, Bulacan, Cagayan, Camarines Norte, Camarines Sur, Camiguin, Capiz, Catanduanes, Cavite, Cebu, Compostela, Davao del Norte, Davao del Sur, Davao Oriental, Dinagat Islands, Eastern Samar, Guimaras, Ifugao, Ilocos Norte, Ilocos Sur, Iloilo, Isabela, Kalinga, Laguna, Lanao del Norte, Lanao del Sur, La Union, Leyte, Maguindanao, Marinduque, Masbate, Mindoro Occidental, Mindoro Oriental, Misamis Occidental, Misamis Oriental, Mountain Province, Negros Occidental, Negros Oriental, North Cotabato, Northern Samar, Nueva Ecija, Nueva Vizcaya, Palawan, Pampanga, Pangasinan, Quezon, Quirino, Rizal, Romblon, Samar, Sarangani, Siquijor, Sorsogon, South Cotabato, Southern Leyte, Sultan Kudarat, Sulu, Surigao del Norte, Surigao del Sur, Tarlac, Tawi-Tawi, Zambales, Zamboanga del Norte, Zamboanga del Sur, Zamboanga Sibugay<br /><strong>chartered cities:</strong> Angeles, Antipolo, Bacolod, Baguio, Butuan, Cagayan de Oro, Caloocan, Cebu, Cotabato, Dagupan, Davao, General Santos, Iligan, Iloilo, Lapu-Lapu, Las Pinas, Lucena, Makati, Malabon, Mandaluyong, Mandaue, Manila, Marikina, Muntinlupa, Naga, Navotas, Olongapo, Ormoc, Paranaque, Pasay, Pasig, Puerto Princesa, Quezon, San Juan, Santiago, Tacloban, Taguig, Valenzuela, Zamboanga
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Government
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Executive branch
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Chief of state
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President Francois HOLLANDE (since 15 May 2012), represented by Senior Administrator Pascal BOLOT (since 29 February 2012)
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President Benigno AQUINO (since 30 June 2010); Vice President Jejomar BINAY (since 30 June 2010)
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Government
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International organization participation
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UPU
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ADB, APEC, APT, ARF, ASEAN, BIS, CD, CICA (observer), CP, EAS, FAO, G-24, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSTAH, NAM, OAS (observer), OPCW, PCA, PIF (partner), UN, UNCTAD, UNDOF, UNESCO, UNHCR, UNIDO, Union Latina, UNISFA, UNMIL, UNMISS, UNMIT, UNMOGIP, UNOCI, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
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Government
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Legal system
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the laws of France, where applicable, apply
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mixed legal system of civil, common, Islamic, and customary law
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People
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Population
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0.0
Ranked 236th.
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105.72 million
Ranked 12th.
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Transport
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Airports
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4
Ranked 184th.
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247
Ranked 24th.
62 times more
than
French Southern and Antarctic Lands
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Geography
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Elevation extremes
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Highest point
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Mont de la Dives on Ile Amsterdam (Ile Amsterdam et Ile Saint-Paul) 867 m; unnamed location on Ile Saint-Paul (Ile Amsterdam et Ile Saint-Paul) 272 m; Pic Marion-Dufresne in Iles Crozet 1,090 m; Mont Ross in Iles Kerguelen 1,850 m; unnamed location on Bassas de India (Iles Eparses) 2.4 m; unnamed location on Europa Island (Iles Eparses) 24 m; unnamed location on Glorioso Islands (Iles Eparses) 12 m; unnamed location on Juan de Nova Island (Iles Eparses) 10 m; unnamed location on Tromelin Island (Iles Eparses) 7 m
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Mount Apo 2,954 m
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Government
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Country name
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Conventional long form
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Territory of the French Southern and Antarctic Lands
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Republic of the Philippines
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Government
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National symbol(s)
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sea lion
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Philippine eagle
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Geography
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Irrigated land
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0.0
Ranked 15th.
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152,500 sq km
Ranked 5th.
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Geography
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Natural hazards
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Ile Amsterdam and Ile Saint-Paul are inactive volcanoes; Iles Eparses subject to periodic cyclones; Bassas da India is a maritime hazard since it is under water for a period of three hours prior to and following the high tide and surrounded by reefs
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astride typhoon belt, usually affected by 15 and struck by five to six cyclonic storms per year; landslides; active volcanoes; destructive earthquakes; tsunamis
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Government
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Flag description
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the flag of France is used
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two equal horizontal bands of blue (top) and red; a white equilateral triangle is based on the hoist side; the center of the triangle displays a yellow sun with eight primary rays; each corner of the triangle contains a small, yellow, five-pointed star; blue stands for peace and justice, red symbolizes courage, the white equal-sided triangle represents equality; the rays recall the first eight provinces that sought independence from Spain, while the stars represent the three major geographical divisions of the country: Luzon, Visayas, and Mindanao; the design of the flag dates to 1897
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