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We have found a new home! All values, unless otherwise stated, are in US dollars. The Philippines is primarily considered a newly industrialized country, which has an economy transitioning from one based on agriculture to one based more on services and manufacturing. Primary exports include semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, and fruits. The Philippine economy is projected to be the 5th largest in Asia and 16th biggest in the world by 2050. The calculated figures express the change in the rate of creation of “real wealth”. This section needs additional citations for verification.