1.6.6 The Philippines

The Philippines’ GDP grew 6.5% in the period from January to September 2012. The country sustained flooding and other serious damage from typhoons in both August and December of 2012. JARN estimates the Philippine market size at about 550,000 units in 2012, 7% higher compared with 2011. While the overall market grew only slightly year on year, Japanese manufacturers posted high growth of around 12% compared with the previous year.