Manila's economy is diverse and multifaceted. With its excellent protected harbor, Manila serves as the nation's chief seaport. In addition, it is a major publishing center for the Philippines.
Diverse manufactures include chemicals, textiles, clothing, and electronic goods. Watches, iron and steel, leather goods, and shoes are also manufactured within the city. Food and beverages and tobacco products also employ many residents. Additionally, local entrepreneurs continue to process primary commodities for export, including rope, plywood, refined sugar, copra, and coconut oil.
Tourism is also a thriving industry. Being one of the major tourist destinations in the country, the city attracts over 1 million visitors from all over the world annually. Many of Manila's tourist sites are found in Binondo, Intramuros and Malate. Manila also has a booming growth rate which projected to surpass that of Singapore by the year 2020.
Every district in the city with the exception of Port Area has its own public market, locally called the pamilihang bayan or palengke. Public markets are often divided into two, the dry goods section and the wet goods section. Commerce in these public markets is lively, especially in the early morning. Under the urban renewal program of the incumbent administration, some of the public markets had been refurbished and given a fresher look, like the Santa Ana Public Market and the Pritil Public Market. Cheap buys or goods being sold at rock-bottom prices are available in the flea markets of Divisoria and Quiapo, where bargaining is a major shopping experience.
Modern shopping malls dot the city especially in the areas of Malate and Ermita. SM City Manila, part of the country's largest chain of malls, stands behind the Manila City Hall, while the original SM Department store still operates in Carriedo in Santa Cruz. One of the popular malls that lies at the heart of Manila is Robinson's Place Ermita. In the southern part of the city in Malate district is Harrison Plaza, one of the city's oldest shopping malls.
Source: Wikipedia Encyclopedia
