There is a large underground economy with unreported income. President Joseph Estrada has been impeached by the House and will stand trial soon in the Senate. This political instability has created a weak Peso. Current exchange rate is 1 USD to 48 Pesos. Over 3 million Filipinos live and work in the US as domestic help.
Rice is the main food staple.
Filipinos like sweet flavors. Barbecue meats and meat on the bone are popular. The Philippines is the 13 th largest importer of American food and agricultural products and the 7 th largest for processed meats. SPAM continues to be a success story. Canned meats are popular due to a lack of refrigeration.