#philippines #economy #china
The Philippines stands out among emerging Southeast Asian countries for not historically relying on the oil and gas industry for its economic growth, unlike its neighboring major Asian nations. While countries nearby have seen economic expansion driven largely by oil and gas production, the Philippines has the least developed oil and gas industry among the ASEAN-6.

With a production of only 9,650 barrels per day compared to a daily consumption of about 429,000 barrels, the Philippines is the largest importer of petroleum products for domestic use in the region. This is in stark contrast to its neighboring oil-producing countries, where oil production significantly contributes to their economies.


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