Economic Characteristics

Gross Domestic Product

The Gross Domestic Product of the Philippines in the year 2016 is
311.69 billions. The gross domestic product (GDP) is one of the primary indicators
used to gauge the health of a country's economy. It represents the total peso value
of all goods and services produced over a specific time period; you can think of it
as the size of the economy.
The Philippines economy grew an annual 6.5 percent in the June quarter of
2017, following a 6.4 percent expansion in the previous quarter and above market
consensus of a 6.2 percent growth.
The industry sector expanded 7.3 percent, following a 6.3 percent growth in
the preceding quarter. Mining & quarrying rebounded by 13.7 percent, following a
18 percent fall in the March quarter. Manufacturing grew (7.9 percent), followed by
construction (6.3 percent), and electricity, gas and water supply (2.4 percent).
Agriculture, hunting, forestry and fishing rose 6.3 percent following a 4.9 percent
expansion in the previous period.

Gross National Product

Inflation Rates

Import-Export
Sunjin has a steady flow of export activity as it distributes animal feed
products to Harim Holdings Co., Ltd, its mother company based in Korea,
along with its other subsidiary companies. Just like other companies operating
the country, it regularly pays its taxes in the Philippines and maintains their
principal office in Norzagaray, Bulacan.

Technology
Sunjins feed mill is equipped with the latest technology in feed manufacturing-the
hydro friction conditioning which emphasizes on the very high standard of raw
material evaluation and assessment to give the highest quality feeds in the
country. With the advancement of technology, Sunjin has built up its strength
with regards to feed technology. That is why its goal is to help the Philippine
livestock farmers become more competitive in terms of productivity and efficiency
for it believes that no company can grow without contributing to the advancement
of Filipino farmer.

Income
Livestock industry is considered one of the fast growing industries in the
Philippines. That is why, Sunjins target market is focused on the livestock raisers,
who are seeking for convenience for having someone who will help them in terms
of ordering and delivering the products they need on a wholesale basis. Following a
competitive pricing strategy, Sunjin focuses on lowering the cost without
sacrificing the quality of their products to meet the income of the market that is
why Sunjin grants discounts for cash on delivery services and provides higher
discount for those who avail the cash before delivery service.

Employment

Sunjin is one of the biggest feed manufacturers in the Philippines, being a

subsidiary of Harim Holdings Co., Ltd. of Korea and having branches all over the
country with a lot of sales agents. Sunjins business might as well be affected by
its sales agents; the sales agents are really important since they are one of the
reasons behind the buyers existence and loyalty to the company. Hence, Sunjin
brings opportunities for the unemployed individuals serve the company by being a
sales agent.