The Philippines emerges among the best performers in services exports, particularly in business process outsourcing, due to its rich human capital and good telecommunications infrastructure.

The Philippines is currently the third largest player in business process outsourcing (BPO) in the world, accounting for 15 percent of the global BPO market, after India (37 percent) and Canada (27 percent).

“That’s a tremendous achievement in just over a decade. The liberalization of the Philippine telecommunications sector in the early 90s improved the quality and efficiency of telecommunications infrastructure through greater competition.

That’s a very important factor for the success of the industry. But the bigger story is really the rich human capital that the country possesses and which it has to continue to nurture.”

Bert Hofman, World Bank (WB) Country manager.

A World Bank study, ‘Exporting Services: A Developing Country Perspective,’ revealed that further reforms in the services sector, particularly in travel and tourism, could provide more channels by which the country could diversify its economy, achieve high and sustained growth, and reduce poverty.

“Service sector performance critically depends on human capital, the quality of the telecommunications network, and the quality of institutions.

The experience of exporting outsourced business services in the Philippines shows that by creating an enabling environment where the private sector can deploy its creativity, developing countries can reap the benefits that services exports opportunities are opening.”

Sebastián Sáez, World Bank Senior Trade Economist.

Services exports as a percent of total exports increased in the Philippines.

Its services exports rose per year during the period, higher than that of Asia as a group. Unlike many developing countries, the Philippines has been a net exporter of services since 2006.

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Source: Lopez, Edu. "WB study cites Philippines #1 Peformer."
21 June 2011. The Manila Bulletin. Accessed 22 June 2011.
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