The remainder is largely Buddhism. The Philippine market economy is primarily a mixture of agriculture, light industry and services. Despite this the Philippines is not self sufficient in terms of agriculture. The government is trying to move the Philippines closer to the development of the newly industrialized countries of East Asia. However real GDP growth has been negative for long periods, and imports exceed exports.
Significant imports are raw materials, capital goods and petroleum products.
See our chart of Asian internet use for comparison with other Asian countries. The Philippines do have significant natural resources, particularly timber, petroleum, and mineral deposits such as nickel, cobalt, silver, gold and copper. Islam was introduced in the 15 th century. The West discovered the Philippines when Ferdinand Magellan, the Portuguese explorer who represented Spain, Ianded in Cebu in 1521. In 1542 the islands were named, in honour of Prince Philip, who later became Philip II of Spain.