Wholesale and retail trade driving Metro Manila’s economy
The Metropolitan Manila has shown steady growth in its gross regional domestic expenditures (GRDE) over the past decade, until the onset of the COVID-19 pandemic in 2020. The larger share of its GRDE has been attributed to the services sector, mainly the wholesale and retail trade and the repair of motor vehicles and motorcycles. Although no data are available that specifically focuses on the trade activities in Metro Manila, the largest port in the Philippines is the Port of Manila, which is the gateway to international shipping and trade. The United States, Japan, and China stand as the leading trade partners of the country’s export goods, which are comprised of mainly electronic products.In addition to the services industry, the manufacturing sector is also very significant in Metro Manila, especially for the food and beverage, textile, electronics, and plastic industries. As a commercial capital, the region is also home to several headquarters of multinational companies, high-end shopping establishments, and office and residential properties, particularly in the central business districts (CBD). There are six CBDs in the region and each district has distinct business focuses. For instance, the Makati Central Business District can be considered the most premier corporate district and metropolitan atmosphere. Meanwhile, the up-and-coming Bonifacio Global City (BGC) is known for its high-tech offices, residential buildings, and lifestyle scene. These districts are also where most of the leading BPO firms are located, although plans to expand office locations outside of the region and into the other major cities and provinces are already in place.