Q: Philippines Overview

A: The Philippines has an online population of 76 million, an Internet penetration rate of 67.8%, and a smartphone penetration rate of 69%. Its population structure is dominated by young people, with more than 60% of the young population over 16 years old and a median age of 25.7 years old, resulting in a demographic dividend that is favorable to the development of the e-commerce market. The Philippines is an island nation located in the western Pacific Ocean of Southeast Asia, consisting of about 7,100 islands and islets. The capital is Manila, and Quezon City is the most populous city. According to the data released by the World Bank, the Philippines’ GDP in 2019 exceeded US$376.7 billion. Riding on the development opportunity of “One Belt, One Road”, the Philippines’ cross-border e-commerce enterprises are developing like hot tea.