There were an estimated 11.8 million Internet users in the country in 2004.

The local office of the US-based IDC research firm said commercial transactions through the Internet originating from the Philippines amounted to three billion dollars last year.

At least 70 percent of internet transactions were between businesses, said IDC Philippines research manager Manuel Ravago.

Filipino consumers still did not appreciate the value of shopping through the Internet, he said in a statement.

However, Ravago said that Internet use and e-commerce in the Philippines were expected to increase due to economic growth, agressive pricing by telecommunications firms and Internet service providers, growth in use of personal computers and government initiatives to encourage Internet use.

Ravago said the falling cost of broadband access plus new technologies would boost chances for further growth in the future but he warned that consumer attitudes could challenge the growth of e-commerce.

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