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Finance Industry Philippines
Experts put the Philippine GDP at 3.7% for 2009 Predominantly agricultural, the Philippine economy has grown in the manufacturing sector since the 1960s. During the mid-90's, 46 percent of the work force was comprised of those in agriculture, fishing and forestry. These areas also contributed over 20 percent to the GDP. The service industry comprised almost 40 percent with manufacturing, construction and mining employing 15 percent. The Philippine banking system is surely far above average on a global comparison. A dozen or more larger banks participate in Internet and / or cellphone banking. Specially cellphone banking is wide spread. That means having a bank account with one of these banks - after enabling / activating cellphone banking with your branch - enables you to pay invoices via cellphone, to transfer money to another Philippine bank or to reload your cellphone directly form your bank account instead of using phone cards.
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