Retail in Asia

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Report: Philippines retail Q2 2010

Research and Markets has released its Philippines Retail Report Q2 2010.

The report predicts that the country’s retail sales will grow from just over USD24 billion in 2009 to almost USD40 billion by 2014. Strong underlying economic growth, an expanding population (especially in urban areas), the rise in consumer spending and the continued development of organised retail infrastructure are key factors behind the forecast growth in the Philippines’ retail sales. The Philippines’ nominal GDP was USD159.69 billion in 2009. Average annual GDP growth of 3.6 percent is predicted through to 2014, reaching USD310.10. With the population expected to increase from an estimated 91.4 million in 2009 to 100.1 million by 2014, GDP per capita is forecast to rise by more than 77 percent by the end of the forecast period, reaching USD3,097. The forecast for consumer spending per capita is for an increase from USD1,767 in 2009 to USD2,265 by 2014.

To view the full summary or download a sample of the report, visit Research and Markets.

(Source: Research and Markets)