Super Typhoon Haiyan catapulted the Philippines to global consciousness when it became the strongest storm ever recorded in human history to make landfall on November 8, 2013. The devastation Haiyan brought is unprecedented in the Philippines, a country that is prone to natural disasters-earthquakes, typhoons and flooding. Last year, the Philippines was struck by a major earthquake, just a few weeks ahead of Super Typhoon Haiyan.

Even so, the country is steadfastly showing economic resilience by not only recovering from these natural disasters, but by surpassing its annual GDP consecutively since 2011. All global economic indicators show the Philippines' economy is emerging, developing and inching its way up in international economic rankings.

According to the 2014 Index Economic Freedom, the Philippines' economic freedom score is 60.1, making its economy the 89th freest in the 2014 Index. "Its score is 1.9 points higher than last year, reflecting notable improvements in investment freedom, business freedom, monetary freedom, and the control of government spending. The Philippines ranks 16th out of 42 countries in the Asia-Pacific region, and its overall score is slightly below the world average."

The Economic Freedom of the World: 2013 annual report states that the Philippines moved to 56th place among 152 countries in the annual rankings around the world. The country's score improved to 7.21 out of a possible 10 points, according to the report.

Based on the 2012 International Monetary Fund statistics, the Philippines is the 40th largest economy in the world. Categorized by the IMF as one of the emerging markets in the world, the country's GDP has been increasing annually since 2011, reaching US$6.7 billion in 2013.

Another clear indicator of the Philippines' growing economic strength is the amount of money it spends in investments abroad. With a GDP that is at a surplus based on the IMF's data, the Philippines' Foreign Direct Investment abroad is ranked 55 in the world. Based on 2012 figures, the country invested an estimated US$8.4 billion in foreign investments.

The country's confidence in investing abroad has been increasing, and foreign investors are returning the favor. In 2012, the Philippines was number 61 in the world in receiving Foreign Direct Investment. That year, it attracted an estimated US$30 billion in Foreign Direct Investment, according to the IMF.

On competitiveness, the Philippines is one of the most improved countries in the Asian region, according to the 2013 World Competitiveness Yearbook ranking. Worldwide, the country improved 5 notches to 38th out of 60 countries in WCY's ranking.

Based on Economic Freedom, annual GDP, Foreign Direct Investment abroad and received, and Competitiveness Index, the Philippine economy is not showing any signs of being battered by the slew of natural disasters it faces on the annual basis. Quite the contrary, global economic indicators show the Philippines surpass its previous annual rank. By 2018, the IMF estimates that the Philippines' GDP will reach US$8.8 billion.

By NELSON ALCANTARA, eturbonews.com

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