Economy of the Philippines

Economy of Philippines

Metro Manila, the economic center of the Philippines

Currency| Philippine peso (Filipino: piso; sign: ₱; code: PHP)

Fiscal year

| Calendar year

Trade organizations

| ADB, AIIB, AFTA, APEC, ASEAN, EAS, G-24, RCEP, WTO and others

Country group

* Developing/Emerging[1]
* Lower-middle income economy[2]
* Newly industrialized country

Statistics
Population|

* 109,035,343 (12th)
(2020 census)[3][4]

GDP|

* $507.67 billion (nominal; 2025 est.)[5]
* $1.476 trillion (PPP; 2025 est.)[5]

GDP rank|

* 31st (nominal; 2025 est.)
* 29th (PPP; 2025 est.)

GDP growth

* 5.6% (2024)[6]
* 6.1% (2025p)[1]
* 6.3% (2026p)[1]

GDP per capita

* $4,439 (nominal; 2025 est.)[5]
* $12,913 (PPP; 2025 est.)[5]

GDP per capita rank

* 124th (nominal; 2024 est.)
* 113th (PPP; 2024 est.)

GDP by sector

* Agriculture: 8.6%
* Industry: 29.1%
* Services: 62.3%
* (2023)[7]

GDP by component

* Household consumption 73.1%
* Government consumption 14.2%
* Gross capital formation 23.1%
* Exports of goods and services 27.4%
* Less: Imports of goods and services 39.2%
* Other source 10.6%
* (2023)[7]

Inflation (CPI)

|  2.1% (February 2025)[8]

Population below poverty line

* 15.5% (2023)[9]
* 18.0% on less than $3.65/day (2021)[10]

Gini coefficient

|  41.2 medium (2021)[11]

Human Development Index

* 0.710 high maximum (2022, 113th)[12]
* 0.590 medium real (2022, IHDI)[12]

Corruption Perceptions Index

|  33 out of 100 points (2024, 114th rank)

Labor force

* 50.19 million
* 65.1% participation rate
* (December 2024 est.)[13]

Labor force by occupation

* Agriculture: 21.3%
* Industry: 18.3%
* Services: 60.5%
* (December 2024 est.)[13]

Unemployment|

* 3.1%
* 1.63 million unemployed
* (December 2024 est.)[13]

Average gross salary

| ₱18,423 / US$338 monthly (2022)[14]
Gross savings|  ₱6.60 trillion (2023)[15]

Main industries

* Electronics assembly
* aerospace/parts
* agribusiness
* automotive/parts
* IT and business process outsourcing
* food processing
* furnitures
* pharmaceuticals
* petrochemicals
* metal casting and mining
* shipbuilding
* textile
* tourism[16][17]

External
Exports| $115.26 billion (2022)[18][7][note 1]

Export goods

* Electronic products 56.9%
* Agricultural products 8.7%
* Manufactured goods 5.4%
* Mineral products 4.2%
* Ignition wirings 3.6%
* Machinery and  Transport equipment 3.3%
* Other 17.9% (2023)[19][20]

Main export partners

* United States 15.7%
* ASEAN 15.2%
* China 14.8%
* Japan 14.2%
* Hong Kong 12.0%
* European Union 11.4%
* Other 16.7% (2023)[20]

Imports| $159.29 billion (2022)[18][7][note 1]

Import goods

* Electronic products 21.1%
* Mineral fuels 15.9%
* Agricultural products 14.2%
* Transport equipment 9.9%
* Iron and steel 4.5%
* Industrial machinery 4.4%
* Other 30.0% (2023)[19][20]

Main import partners

* ASEAN 29.9%
* China 23.3%
* Japan 8.2%
* South Korea 6.7%
* United States 6.7%
* European Union 6.2%
* Other 19.0% (2023)[20]

FDI stock

* $118.98 billion (Inward, 2023)[21]
* $68.27 billion (Outward, 2023)[21]

Current account

* -$11.20 billion
* -2.6% of GDP (2023)[22][23]

Gross external debt

* $125.39 billion
* 28.7% of GDP (2023p)[7]

Public finances

Government debt

* ₱14.62 trillion
* ($263.03 billion)
* 60.2% of GDP (2023)[7][24]

Foreign reserves

|  $106.26 billion (December 2024)[22][25]

Budget balance

* -₱1.51 trillion
* (-$27.21 billion)
* −6.2% of GDP (2023)[7]

Revenues|

* ₱3.82 trillion
* ($68.81 billion)
* 15.7% of GDP (2023)[7]

Expenses|

* ₱5.34 trillion
* ($99.63 billion)
* 22.0% of GDP (2023)[7]

Economic aid| recipient: $1.67 billion (2011)[26]

Credit rating

* Japan Credit Rating Agency:[27]
* A− (Domestic/Foreign)
* A− (Bonds)
* Outlook: Stable

* * *

* Standard & Poor's:[28]
* BBB+ (Domestic/Foreign)
* BBB+ (T&C Assessment)
* Outlook: Positive

* * *

* Moody's:[29]
* Baa2
* Outlook: Stable

* * *

* Fitch:[30]
* BBB (Domestic/Foreign)
* BBB+ (Country Ceiling)
* Outlook: Stable

All values, unless otherwise stated, are in US dollars.

The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region.[31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.

The Philippine economy is a service-oriented economy, with relatively more modest contributions from the manufacturing and agriculture sectors. It has experienced significant economic growth and transformation in the past, posting one of the highest GDP growth rates in Asia. With an average annual growth rate of around 6 percent since 2010, the country has emerged as one of the fastest-growing economies in the world.[32] The Philippines is a founding member of the United Nations, Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, East Asia Summit and the World Trade Organization.[33] The Asian Development Bank (ADB) is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila.

The country's primary exports include semiconductors and electronic products, transport equipment, garments, chemical products, copper, nickel, abaca, coconut oil, and fruits. Its major trading partners include Japan, China, the United States, Singapore, South Korea, the Netherlands, Hong Kong, Germany, Taiwan, and Thailand.

In 2017, the Philippine economy was projected to become the 9th largest in Asia and 19th largest in the world by 2050.[34] By 2035, the Filipino economy is predicted to be the 22nd largest in the world.[35]

The Philippines has been named as one of the Tiger Cub Economies, alongside Indonesia, Malaysia, Vietnam, and Thailand. However, major problems remain, mainly related to alleviating the wide income and growth disparities between the country's different regions and socioeconomic classes, reducing corruption, and investing in the infrastructure necessary to ensure future growth.

In 2024, the World Economic Forum chief Børge Brende said that “there is a real opportunity for this country to become a $2-trillion economy.”[36]

## Overview

[edit]

Further information: Economic history of the Philippines

Historical growth of the Philippine economy from 1961 to 2015

The Philippine economy has been growing steadily over decades and the International Monetary Fund in 2014 reported it as the 39th largest economy in the world. The Philippines posted a high GDP growth rate of 7.6 percent in 2022.[37] However, the country is not a part of the Group of 20 nations; instead, it is grouped in a second tier for emerging markets or newly industrialized countries.

Notes for economic growth (1980-2023):

1980-82: Slower economic growth due to mismanagement

* * *

1983-86: Recession due to factors like corruption

* * *

1987-90: Recovery from 1984 crisis

* * *

1991-1992: Inflation and natural disasters (notably Mount Pinatubo eruption) caused slower growth

* * *

1993-97: Fast growth

* * *

1998: Minor recession due to the 1997 Asian Financial Crisis

* * *

1999-2001: Recovery

* * *

2002: Recession due to the EDSA II Protest

* * *

1999-2001: Recovery

* * *

2002-2008: Post-EDSA II recovery

* * *

2009: Effects of the Great Recession

* * *

2010-2019: Philippines as a Tiger Economy

* * *

2020: Coronavirus Outbreak

* * *

2021-2023: Rebound

* * *

A chart below outlines selected statistics showing trends in the gross domestic product of the Philippines using data taken from the International Monetary Fund.[38][39]

* Indicates economic growth
* Indicates contraction / recession
* Indicates IMF forecast

Year  | GDP

(in Bil. US$PPP)

| GDP per capita

(in US$PPP)

| GDP

(in Bil. PHP$nominal)

| GDP

(in US$nominal)

| GDP per capita

(in US$nominal)

| GDP growth

(real)[a]

| PHP:USD
exchange rate[b]

|
|
|
|
|
|
|

2024[5] | 1,391.8 | 12,191 | 26,546 | 471.5 | 4,130 | 6.2% |  57.29
2023  | 1,278.6 | 11,326 | 24,276 | 436.6 | 3,720 | 5.60% |  55.63
2022  | 1,173.1 | 10,512 | 22,023 | 404.3 | 3,623 | 7.76% |  54.47
2021  | 994.6 | 9,043 | 19,390 | 393.7 | 3,579 | 5.60% |  49.25
2020[c] | 919.2 | 8,389 | 17,937.6 | 361.5 | 3,298 | −9.50% |  49.62
2019  | 1,005 | 9,295 | 19,514.4 | 376.8 | 3,485 | 6.00% |  51.79
2018  | 930.0 | 8,720 | 18,262.4 | 346.8 | 3,251 | 6.30% |  52.66
2017  | 854.0 | 8,120 | 15,556.4 | 328.5 | 3,123 | 6.70% |  50.40
2016  | 798.6 | 7,703 | 15,133.5 | 318.6 | 3,073 | 6.90% |  47.50
2015[40] | 741.0 | 6,547 | 13,307.3 | 292.4 | 2,863 | 5.80% |  45.50
2014[40] | 642.8 | 6,924 | 12,645.3 | 284.8 | 2,844 | 6.10% |  44.40
2013[41] | 454.3 | 4,660 | 11,546.1 | 272.2 | 2,792 | 7.20% |  42.45
2012[42] | 419.6 | 4,380 | 10,564.9 | 250.2 | 2,611 | 6.80% |  42.21
2011  | 386.1 | 4,098 | 9,706.3 | 224.1 | 2,379 | 3.60% |  43.29
2010  | 365.3 | 3,945 | 9,003.5 | 199.6 | 2,155 | 7.63% |  45.09
2009  | 335.4 | 3,685 | 8,026.1 | 168.5 | 1,851 | 1.15% |  47.58
2008  | 329.0 | 3,636 | 7,720.9 | 173.6 | 1,919 | 4.15% |  44.47
2007  | 309.9 | 3,493 | 6,892.7 | 149.4 | 1,684 | 7.12% |  46.07
2006  | 283.5 | 3,255 | 6,271.2 | 122.2 | 1,405 | 5.24% |  51.29
2005  | 261.0 | 3,061 | 5,677.8 | 103.1 | 1,209 | 4.78% |  55.06
2004  | 242.7 | 2,905 | 5,120.4 | 91.4 | 1,093 | 6.70% |  56.09
2003  | 222.7 | 2,720 | 4,548.1 | 83.9 | 1,025 | 4.97% |  54.32
2002  | 207.8 | 2,591 | 4,198.3 | 81.4 | 1,014 | 3.65% |  51.60
2001  | 197.3 | 2,511 | 3,888.8 | 76.3 | 971 | 2.89% |  51.20
2000  | 187.5 | 2,437 | 3,580.7 | 81.0 | 1,053 | 4.41% |  46.44
1999  | 175.8 | 2,352 | 3,244.2 | 83.0 | 1,110 | 3.08% |  42.85
1998  | 168.1 | 2,297 | 2,952.8 | 73.8 | 1,009 | −0.58% |  40.34
1997  | 167.1 | 2,336 | 2,688.7 | 92.8 | 1,297 | 5.19% |  32.59
1996  | 156.1 | 2,232 | 2,406.4 | 93.5 | 1,336 | 5.85% |  27.15
1995  | 144.8 | 2,118 | 2,111.7 | 83.7 | 1,224 | 4.68% |  24.20
1994  | 135.5 | 2,007 | 1,875.7 | 71.0 | 1,052 | 4.39% |  24.84
1993  | 127.1 | 1,929 | 1,633.6 | 60.2 | 914 | 2.12% |  28.05
1992  | 121.8 | 1,891 | 1,497.5 | 58.7 | 912 | 0.34% |  26.44
1991  | 118.6 | 1,882 | 1,379.9 | 50.2 | 797 | −0.49% |  27.61
1990  | 115.2 | 1,873 | 1,190.5 | 48.9 | 796 | 3.04% |  22.90
1989  | 107.6 | 1,791 | 1,025.3 | 47.3 | 786 | 6.21% |  23.03
1988  | 97.6 | 1,663 | 885.5 | 42.0 | 715 | 6.75% |  23.26
1987  | 88.4 | 1,540 | 756.5 | 36.8 | 641 | 4.31% |  19.07
1986  | 82.4 | 1,471 | 674.6 | 33.1 | 591 | 3.42% |  18.42
1985  | 77.9 | 1,426 | 633.6 | 34.1 | 623 | −7.30% |  17.40
1984  | 81.6 | 1,530 | 581.1 | 34.8 | 652 | −7.31% |  17.61
1983  | 84.9 | 1,630 | 408.9 | 36.8 | 707 | 1.88% |  12.11
1982  | 80.1 | 1,578 | 351.4 | 41.1 | 810 | 3.62% |  9.47
1981  | 72.9 | 1,471 | 312.0 | 39.5 | 797 | 3.42% |  9.32
1980  | 64.4 | 1,334 | 270.1 | 35.9 | 744 | 5.15% |  7.78
1979  |  |  |  |  |  | 5.60% |
1978  |  |  |  |  |  | 5.20% |
1977  |  |  |  |  |  | 5.60% |
1976  |  |  |  |  |  | 8.00% |
1975  |  |  |  |  |  | 6.40% |
1974  |  |  |  |  |  | 5.00% |
1973  |  |  |  |  |  | 9.20% |
1972  |  |  |  |  |  | 4.80% |
1971  |  |  |  |  |  | 4.90% |
1970  |  |  |  |  |  | 4.60% |

1. ^ GDP growth at constant 1985 prices in Philippine pesos:[38][43][44][45]
2. ^ Direct quotation: PHP to buy 1 USD.
3. ^ As a result of shutdown of businesses imposed by the lockdowns to contain the COVID-19 pandemic.

## Composition by sector

[edit]

Filipino men at work in Brunei

As a newly industrialized country, the Philippines is still an economy with a large agricultural sector; however, the country's service industry has expanded recently.[46] Much of the industrial sector is based on processing and assembly operations in the manufacturing of electronics and other high-tech components, usually from foreign multinational corporations.

Filipinos who go abroad to work–-known as Overseas Filipino Workers or OFWs—are a significant contributor to the economy but are not reflected in the below sectoral discussion of the domestic economy. OFW remittances is also credited for the Philippines' recent economic growth resulting in investment status upgrades from credit ratings agencies such as the Fitch Group and Standard & Poor's.[47] From more than US$2 billion worth of remittance from Overseas Filipinos sent to the Philippines in 1994,[48] this significantly increased to a record US$38.34 billion in 2024 and represented 8.3 percent of the country's GDP.[49]

### Agriculture

[edit]

Further information: Agriculture in the Philippines

As of 2022[update], agriculture employs 24 percent of the Filipino workforce[50] accounting for 8.9 percent of the total GDP.[51] The type of activity ranges from small subsistence farming and fishing to large commercial ventures with significant export focus.

The Philippines is the world's third largest producer of coconuts, and the world's largest exporter of coconut products.[52] Coconut production is generally concentrated in medium-sized farms.[53] The Philippines is also the world's third largest producer of pineapples, producing 2,862,000 metric tons (2,817,000 long tons; 3,155,000 short tons) in 2021.[54]

Rice production in the Philippines is important to the food supply in the country and economy. The Philippines is the 8th largest rice producer in the world as of 2019[update], accounting for 2.5 percent of global rice production.[55] Rice is the most important food crop, a staple food in most of the country;[56] it is produced extensively in Central Luzon), Western Visayas, Cagayan Valley, Soccsksargen, and Ilocos Region.[57][58]

The Philippines is one of the largest producers of sugar in the world.[59] At least 17 provinces located in eight regions of the nation have grown sugarcane crops, of which the Negros Island Region accounts for half of the country's total production. As of Crop Year 2012–2013, 29 mills are operational divided as follows: 13 mills in Negros, 6 mills in Luzon, 4 mills in Panay, 3 mills in Eastern Visayas and 3 mills in Mindanao.[60] A range from 360,000 to 390,000 hectares (890,000 to 960,000 acres) are devoted to sugarcane production. The largest sugarcane areas are found in the Negros Island Region, which accounts for 51 percent of sugarcane areas planted. This is followed by Mindanao which accounts for 20 percent; Luzon with 17 percent; Panay with 7 percent and Eastern Visayas with 4 percent.[61]

* A coconut grove in Dapitan

* A banana plantation in Padada

* Vast sugarcane plantations in Bacolod

* A rice field in Bulacan

* Pineapples in a market in Laguna

### Automotive and aerospace

[edit]

Main article: Automotive industry in the Philippines

The ABS used in Mercedes-Benz, BMW, and Volvo cars are made in the Philippines. Automotive sales in the Philippines increased to 467,252 in 2024 from 429,807 units a year prior.[62] Toyota sells the most vehicles in the country followed by Mitsubishi, Ford, Nissan, and Suzuki.[62] Honda and Suzuki produce motorcycles in the country.[63] Since around the 2010s, several Chinese car brands have entered the Philippine market; these include Chery and Foton Motor.[64][65]

Aerospace products in the Philippines are mainly for the export market and include manufacturing parts for aircraft built by both Boeing and Airbus. Moog is the biggest aerospace manufacturer with base in Baguio; the company produces aircraft actuators in their manufacturing facility.[66] Total export output of aerospace products in the Philippines reached US$780 million in 2019.[67]

### Electronics

[edit]

A Texas Instruments integrated circuit

A Texas Instruments plant in Baguio has been operating for 20 years and is the largest producer of DSP chips in the world.[68][69] Texas Instruments' Baguio plant produces all the chips used in Nokia cell phones and 80% of chips used in Ericsson cell phones in the world.[70] Toshiba hard disk drives are manufactured in Santa Rosa, Laguna.[71] Printer manufacturer Lexmark has a factory in Cebu City.[72] Electronics and other light industries are concentrated in Laguna, Cavite, Batangas and other Calabarzon provinces with sizable numbers found in Southern Philippines that account for most of the country's export.[73]

The Philippine Electronics Industry is classified into (73%) Semiconductor Manufacturing Services (SMS) and (27%) Electronics Manufacturing Services (EMS) according to SEIPI, the largest organization of foreign and Filipino electronics companies in the Philippines.[74] Electronic products continued to be the country's top export with total earnings of US$45.66 billion and accounted for 57.8 percent of the total export of goods in 2022.[75]

### Mining and extraction

[edit]

Geothermal power station in Negros Oriental

The Philippines is rich in mineral and geothermal energy resources. In 2019, it produced 1,928 megawatts (2,585,000 hp) of electricity from geothermal sources (7.55% of total electricity production).[76] A 1989 discovery of natural gas reserves in the Malampaya oil fields off the island of Palawan is being used to generate electricity in three gas-powered plants.[77] Philippine gold, nickel, copper, palladium and chromite deposits are among the largest in the world.[78][79] Other important minerals include silver, coal, gypsum, and sulphur. Significant deposits of clay, limestone, marble, silica, and phosphate exist.

About 60 percent of total mining production are accounted for by non-metallic minerals, which contributed substantially to the industry's steady output growth between 1993 and 1998, with the value of production growing 58 percent.[citation needed] Philippine mineral exports amounted to US$4.22 billion in 2020.[80] Low metal prices, high production costs, lack of investment in infrastructure, and a challenge to the new mining law have contributed to the mining industry's overall decline.[citation needed]

The industry rebounded starting in late 2004 when the Supreme Court upheld the constitutionality of an important law permitting foreign ownership of Philippines mining companies.[81] In 2019, the country was the 2nd largest world producer of nickel[82] and the 4th largest world producer of cobalt.[83] According to Philippine Statistics Authority, the total monetary value of four key metallic minerals which were appraised to Class A namely: copper, chromite, gold and nickel were valued at US$9.01 billion in 2022.[84] Class A mineral resources are commercially recoverable that could contribute to economy annually.

### Offshoring and outsourcing

[edit]

Main articles: Business process outsourcing in the Philippines and Call center industry in the Philippines

A business process outsourcing office in Cainta, Rizal

Business process outsourcing (BPO) and the call center industry contribute to the Philippines' economic growth resulting in investment status upgrades from credit ratings agencies such as Fitch and S&P.[47] In 2008, the Philippines has surpassed India as the world leader in business process outsourcing (BPO).[85][86] The industry generated 100,000 jobs, and total revenues were placed at US$960 million for 2005. In 2011, BPO sector employment ballooned to over 700,000 people[87] and is contributing to a growing middle class; this increased to around 1.3 million employees by 2022.[88] BPO facilities are concentrated in IT parks and centers in economic zones across the Philippines:[89] Metro Manila, Metro Cebu, Metro Clark, Bacolod, Davao City, and Iloilo City; other areas with significant presence of the BPO industry include Baguio, Cagayan de Oro, Dasmariñas, Dumaguete, Lipa, Naga, and Santa Rosa, Laguna.[90] The majority of the top ten BPO firms of the United States operate in the Philippines.[91]

Call centers began in the Philippines as plain providers of email response and managing services and is a major source of employment. Call center services include customer relations, ranging from travel services, technical support, education, customer care, financial services, online business to customer support, and online business-to-business support. The Philippines is considered as a location of choice due to its many outsourcing benefits such as less expensive operational and labor costs, the high proficiency in spoken English of a significant number of its people, and a highly educated labor pool.[92][93]

The growth in the BPO industry is promoted by the Philippine government. The industry is highlighted by the Philippines Development Plan as among the 10 high potential and priority development areas. The government provides incentive programs such as tax holidays, tax exemptions, and simplified export and import procedures. Additionally, training is also available for BPO applicants.[94]

### Renewable energy resources

[edit]

Main article: Renewable energy in the Philippines

Solar module installation in Bulacan

The Philippines has significant potential in solar energy; however, as of 2021[update], most of the domestically produced electricity is based on fossil fuel resources, particularly coal.[95][96] The country produced 7,399 megawatts (9,922,000 hp) of renewable energy in 2019.[76]

On November 15, 2022, the renewable energy sector was granted the ability to operate with 100 percent foreign ownership, an increase from the previous 40 percent limit. This change allows for the infusion of foreign capital into the renewable energy (RE) industries. The Department of Energy is targeting an increase in the share of renewable energy in the country's power generation mix, aiming for 35 percent by 2030 and 50 percent by 2040, up from the current 22 percent.[97] Danish firm Copenhagen Infrastructure Partners (CIP) is investing US$5 billion to develop three offshore wind energy projects with a potential capacity of 2,000 megawatts (2,700,000 hp); it will be located in Camarines Norte and Camarines Sur (1000 MW), Northern Samar (650 MW), Pangasinan and La Union (350 MW).[98] In 2022, the share of RE in the energy mix was at 22.8 percent.[99]

### Shipbuilding and repair

[edit]

Hanjin Subic Shipyard in Subic, Zambales

The Philippines is a significant player in the global shipbuilding industry[100] with 118 registered shipyards in 2021[101] distributed in Subic, Cebu,[102] Bataan, Navotas and Batangas.[103][104] As of 2022, it is the seventh largest shipbuilding nation by gross tonnage.[105] Subic-made cargo vessels are exported to countries where shipping operators are based. South Korea's Hanjin started production in Subic in 2007 of the 20 ships ordered by German and Greek shipping operators.[106] Bulk carriers, container ships and big passenger ferries are built in the country's shipyards. General Santos' shipyard is mainly for ship repair and maintenance.[107]

Surrounded by waters, the country has abundant natural deep-sea ports ideal for development as production, construction and repair sites. In the ship repair sector, the Navotas complex in Metro Manila is expected to accommodate 96 vessels for repair.[108] Shipbuilding is part of Philippines' maritime heritage;[109] employing over 600,000 people and contributing almost 15 percent of revenues to the ocean-based industries.[110][111]

### Tourism

[edit]

Boracay white beach

These paragraphs are an excerpt from Tourism in the Philippines.[edit]

Tourism is an important sector for the Philippine economy. The travel and tourism industry contributed 8.6% to the country's GDP in 2023;[112] this was lower than the 12.7% recorded in 2019 prior to the COVID-19 lockdowns.[113] Coastal tourism, encompassing beach and diving activities, constitutes 25% of the Philippines' tourism revenue, serving as its primary income source in the sector.[114] Popular destinations among tourists include Boracay, Palawan, Cebu and Siargao. While the Philippines has encountered political and social challenges that have affected its tourism industry, the country has also taken steps to address these issues.[115] Over the past years, there have been efforts to improve political stability, enhance security measures, and promote social inclusivity, all of which contribute to creating a more favorable environment for tourism, such as the Boracay rehabilitation.[116]

As of 2023, 6.21 million Filipinos were employed in the tourism industry[112] and as of 2024, the Philippines generated ₱760.5 billion (US$13.1 billion) in revenue from foreign tourists, coming mostly from South Korea, the United States and Japan.[117] The country attracted a total of 5,360,682 foreign visitors in 2015 through its tourism campaign of It's More Fun in the Philippines![118] In 2019, foreign arrivals peaked at 8,260,913.[119]

The country is also home to one of the New 7 Wonders of Nature, the Puerto Princesa Subterranean River National Park, and one of the New 7 Wonders Cities, the Heritage City of Vigan. It is also home to six UNESCO World Heritage Sites scattered in nine different locations, three UNESCO biosphere reserves, three UNESCO intangible cultural heritage, four UNESCO memory of the world documentary heritage, three UNESCO creative cities, two UNESCO World Heritage cities, seven Ramsar wetland sites, and eight ASEAN Heritage Parks.[118]

## Regional accounts

[edit]

For the year 2022, all economies of the 17 regions in the Philippines recorded positive growths; Western Visayas had the highest growth (9.3 percent), followed by Cordillera Administrative Region (8.7 percent), and Davao Region (8.15 percent).[120]

According to the Philippine Statistics Authority (PSA), gross regional domestic product (GRDP) is GDP measured at regional levels. Figures below are for the year 2019.

Region  | GRDP

(PHP, thousands)

| Agriculture

(PHP, thousands)

| Industry

(PHP, thousands)

| Services

(PHP, thousands)

| GRDP
per capita

(PHP)

|
|
|
|
|

#  | %  | #  | %  | #  | %  | #  | %
Metro Manila | 6,309,290,637 | 32.33  | 442,597 | 0.03  | 1,230,125,141 | 20.89  | 5,078,722,899 | 42.65  | 462,779
Cordillera | 322,093,866 | 1.65  | 27,045,337 | 1.57  | 77,990,725 | 1.32  | 217,057,804 | 1.82  | 179,752
Ilocos Region | 629,772,047 | 3.23  | 104,471,256 | 6.07  | 192,218,332 | 3.26  | 333,082,459 | 2.80  | 120,512
Cagayan Valley | 397,625,523 | 2.04  | 103,563,850 | 6.01  | 115,614,177 | 1.96  | 178,447,496 | 1.50  | 109,851
Central Luzon | 2,177,046,900 | 11.15  | 231,995,441 | 13.47  | 950,969,430 | 16.15  | 994,082,029 | 8.35  | 179,840
Calabarzon | 2,861,724,791 | 14.66  | 154,312,287 | 8.96  | 1,445,358,775 | 24.55  | 1,262,053,729 | 10.60  | 181,781
Mimaropa | 377,014,287 | 1.93  | 64,116,478 | 3.72  | 125,427,469 | 2.13  | 187,470,340 | 1.57  | 120,240
Bicol Region | 560,314,934 | 2.87  | 85,820,150 | 4.98  | 202,529,524 | 3.44  | 271,965,260 | 2.28  | 92,288
Western Visayas | 916,379,059 | 4.70  | 144,256,702 | 8.38  | 194,479,931 | 3.30  | 577,642,425 | 4.85  | 116,946
Central Visayas | 1,266,701,029 | 6.49  | 79,478,668 | 4.61  | 342,195,668 | 5.81  | 845,026,693 | 7.10  | 161,289
Eastern Visayas | 465,694,628 | 2.39  | 61,219,158 | 3.55  | 181,914,842 | 3.09  | 222,560,628 | 1.87  | 99,492
Zamboanga Peninsula | 397,206,561 | 2.04  | 74,695,151 | 4.34  | 110,467,600 | 1.88  | 212,043,810 | 1.78  | 105,798
Northern Mindanao | 882,204,432 | 4.52  | 182,955,342 | 10.62  | 208,580,211 | 3.54  | 490,668,878 | 4.12  | 177,998
Davao Region | 922,094,956 | 4.72  | 149,438,384 | 8.68  | 233,452,398 | 3.97  | 539,204,175 | 4.53  | 176,983
Soccsksargen | 470,422,524 | 2.41  | 130,802,115 | 7.60  | 103,321,113 | 1.75  | 236,299,297 | 1.98  | 108,561
Caraga | 306,308,490 | 1.57  | 39,908,783 | 2.32  | 109,464,024 | 1.86  | 156,935,683 | 1.32  | 112,489
Bangsamoro | 254,523,606 | 1.30  | 87,689,432 | 5.09  | 63,191,105 | 1.07  | 103,643,069 | 0.87  | 55,151
Total  | 19,516,418,271 | 100.00  | 1,722,211,131 | 100.00  | 5,887,300,465 | 100.00  | 11,906,906,674 | 100.00  | 181,907
Data as of October 21, 2020[121]

## Provincial Accounts

[edit]

According to the Philippine Statistics Authority (PSA), Provincial Product Account (PPA) is GDP measured at provincial levels. Figures below are for the year 2022.

#  | Province  | Region  | 2022 PPA GDP

(PHP)

| 2020

Popn.

| PPA GDP

per capita

(PHP)

|
|
|
|
|

1  | Metro Manila | Metro Manila  | 6,265,608,000,000  | 13,484,462  | 464,654
2  | Laguna | Calabarzon | 990,690,000,000  | 3,382,193  | 292,914
3  | Cebu (incl. Cebu City, Lapu-Lapu City & Mandaue)  | Central Visayas | 937,750,000,000  | 5,151,274  | 182,042
4  | Cavite | Calabarzon  | 731,390,000,000  | 4,344,829  | 168,336
5  | Pampanga (incl. Angeles City)  | Central Luzon | 658,070,000,000  | 2,900,637  | 226,871
6  | Batangas | Calabarzon  | 615,810,000,000  | 2,908,494  | 211,728
7  | Bulacan | Central Luzon  | 604,710,000,000  | 3,708,890  | 163,043
8  | Davao del Sur (incl. Davao City)  | Davao Region | 599,000,000,000  | 2,457,430  | 243,751
9  | Misamis Oriental (incl. Cagayan de Oro)  | Northern Mindanao | 419,220,000,000  | 1,685,302  | 248,751
10  | Negros Occidental (incl. Bacolod)  | Western Visayas | 379,200,000,000  | 3,223,955  | 117,620
11  | Pangasinan | Ilocos Region | 352,930,000,000  | 3,163,190  | 111,574
12  | Iloilo (incl. Iloilo City)  | Western Visayas  | 351,050,000,000  | 2,509,525  | 139,887
13  | Rizal | Calabarzon  | 340,630,000,000  | 3,330,143  | 102,287
14  | Nueva Ecija | Central Luzon  | 298,570,000,000  | 2,310,134  | 129,244
15  | Leyte (incl. Tacloban)  | Eastern Visayas | 296,950,000,000  | 2,028,728  | 146,373
16  | Quezon (incl. Lucena)  | Calabarzon  | 264,460,000,000  | 2,229,383  | 118,625
17  | South Cotabato (incl. General Santos)  | Soccsksargen | 263,830,000,000  | 1,672,791  | 157,718
18  | Bataan | Central Luzon  | 256,890,000,000  | 853,373  | 301,029
19  | Bukidnon | Northern Mindanao  | 248,750,000,000  | 1,541,308  | 161,389
20  | Zamboanga del Sur (incl. Zamboanga City)  | Zamboanga Peninsula | 241,000,000,000  | 2,027,902  | 118,842
21  | Benguet (incl. Baguio)  | Cordillera | 233,810,000,000  | 827,041  | 282,707
22  | Camarines Sur | Bicol Region | 194,840,000,000  | 2,068,244  | 94,206
23  | Tarlac | Central Luzon  | 193,290,000,000  | 1,503,456  | 128,564
24  | Isabela | Cagayan Valley | 188,890,000,000  | 1,697,050  | 111,305
25  | Palawan (incl. Puerto Princesa)  | Mimaropa | 180,320,000,000  | 1,246,673  | 144,641
26  | Bohol | Central Visayas  | 171,090,000,000  | 1,394,329  | 122,704
27  | Davao del Norte | Davao Region  | 168,610,000,000  | 1,125,057  | 149,868
28  | Negros Oriental | Central Visayas  | 166,460,000,000  | 1,432,990  | 116,163
29  | Cagayan | Cagayan Valley  | 148,780,000,000  | 1,268,603  | 117,279
30  | Albay | Bicol Region  | 145,130,000,000  | 1,374,768  | 105,567
31  | Zambales (incl.Olongapo)  | Central Luzon  | 140,630,000,000  | 909,932  | 154,550
32  | Lanao del Norte (incl. Iligan)  | Northern Mindanao  | 136,850,000,000  | 1,086,017  | 126,011
33  | Cotabato | Soccsksargen  | 120,350,000,000  | 1,490,618  | 80,738
34  | Misamis Occidental | Northern Mindanao  | 119,380,000,000  | 617,333  | 193,380
35  | La Union | Ilocos Region  | 118,600,000,000  | 822,352  | 144,220
36  | Zamboanga del Norte | Zamboanga Peninsula  | 114,620,000,000  | 1,047,455  | 109,427
37  | Oriental Mindoro | Mimaropa  | 109,400,000,000  | 908,339  | 120,440
38  | Agusan del Norte (incl. Butuan)  | Caraga | 96,070,000,000  | 760,413  | 126,339
39  | Ilocos Norte | Ilocos Region  | 93,100,000,000  | 609,588  | 152,726
40  | Davao de Oro | Davao Region  | 93,100,000,000  | 767,547  | 121,296
41  | Ilocos Sur | Ilocos Region  | 90,240,000,000  | 706,009  | 127,817
42  | Masbate | Bicol Region  | 80,180,000,000  | 908,920  | 88,215
43  | Surigao del Norte | Caraga  | 78,380,000,000  | 534,636  | 146,604
44  | Maguindanao del Norte | Bangsamoro | 78,010,000,000  | 943,500  | 82,682
45  | Sorsogon | Bicol Region  | 74,560,000,000  | 828,655  | 89,977
46  | Capiz | Western Visayas  | 74,380,000,000  | 804,952  | 92,403
47  | Agusan del Sur | Caraga  | 74,220,000,000  | 739,367  | 100,383
48  | Lanao del Sur | Bangsamoro  | 71,790,000,000  | 1,195,518  | 60,049
49  | Sultan Kudarat | Soccsksargen  | 71,510,000,000  | 854,052  | 83,730
50  | Antique | Western Visayas  | 70,690,000,000  | 612,974  | 115,323
51  | Aklan | Western Visayas  | 63,570,000,000  | 615,475  | 103,286
52  | Surigao del Sur | Caraga  | 63,190,000,000  | 642,255  | 98,388
53  | Zamboanga Sibugay | Zamboanga Peninsula  | 60,390,000,000  | 669,840  | 90,156
54  | Camarines Norte | Bicol Region  | 60,200,000,000  | 629,699  | 95,601
55  | Samar | Eastern Visayas  | 57,860,000,000  | 793,183  | 72,947
56  | Nueva Vizcaya | Cagayan Valley  | 57,790,000,000  | 497,432  | 116,177
57  | Davao Oriental | Davao Region  | 55,450,000,000  | 576,343  | 96,210
58  | Occidental Mindoro | Mimaropa  | 52,560,000,000  | 525,354  | 100,047
59  | Sarangani | Soccsksargen  | 47,960,000,000  | 558,946  | 85,804
60  | Sulu | Bangsamoro  | 44,970,000,000  | 1,000,108  | 44,965
61  | Northern Samar | Eastern Visayas  | 44,340,000,000  | 639,186  | 69,369
62  | Southern Leyte | Eastern Visayas  | 43,010,000,000  | 429,573  | 100,123
63  | Maguindanao del Sur | Bangsamoro  | 38,230,000,000  | 723,758  | 52,822
64  | Davao Occidental | Davao Region  | 37,900,000,000  | 317,159  | 119,498
65  | Basilan (incl. Isabela)  | Bangsamoro  | 34,240,000,000  | 556,586  | 61,518
66  | Eastern Samar | Eastern Visayas  | 33,990,000,000  | 477,168  | 71,233
67  | Aurora | Central Luzon  | 33,990,000,000  | 235,750  | 139,597
68  | Romblon | Mimaropa  | 29,030,000,000  | 308,985  | 93,953
69  | Catanduanes | Bicol Region  | 28,800,000,000  | 271,879  | 105,929
70  | Kalinga | Cordillera  | 27,130,000,000  | 229,570  | 118,177
71  | Ifugao | Cordillera  | 25,770,000,000  | 207,498  | 124,194
72  | Tawi-Tawi | Bangsamoro  | 24,780,000,000  | 440,276  | 56,283
73  | Abra | Cordillera  | 24,570,000,000  | 250,985  | 97,894
74  | Marinduque | Mimaropa  | 21,650,000,000  | 239,207  | 90,507
75  | Quirino | Cagayan Valley  | 21,140,000,000  | 203,828  | 103,715
76  | Biliran | Eastern Visayas  | 16,190,000,000  | 179,312  | 90,290
77  | Guimaras | Western Visayas  | 16,130,000,000  | 187,842  | 85,870
78  | Mountain Province | Cordillera  | 14,890,000,000  | 158,200  | 94,121
79  | Siquijor | Central Visayas  | 12,020,000,000  | 103,395  | 116,253
80  | Dinagat Islands | Caraga  | 12,000,000,000  | 128,117  | 93,664
81  | Apayao | Cordillera  | 11,500,000,000  | 124,366  | 92,469
82  | Camiguin | Northern Mindanao  | 11,100,000,000  | 92,808  | 119,602
83  | Batanes | Cagayan Valley  | 4,570,000,000  | 18,831  | 242,685

source: Philippine Statistics Authority[122]

## City Accounts

[edit]

Figures below are Provincial Product Accounts (PPA) for Highly Urbanized Cities (HUC) or Independent Cities. No data available for cities within Metro Manila.

#  | City  | Province  | Region  | Island

Group

| 2022 PPA GDP

(PHP)

| 2020

Popn.

| PPA GDP

per Capita

(PHP)

|
|
|
|
|
|
|

1  | Davao City | Davao del Sur  | Davao Region  | Mindanao  | 495,310,000,000  | 1,776,949  | 278,742
2  | Cebu City | Cebu  | Central Visayas  | Visayas  | 288,640,000,000  | 964169  | 299,367
3  | Cagayan de Oro | Misamis Oriental  | Northern Mindanao  | Mindanao  | 261,780,000,000  | 728402  | 359,389
4  | Baguio | Benguet  | Cordillera  | Luzon  | 155,030,000,000  | 366,358  | 423,165
5  | Lapu-Lapu | Cebu  | Central Visayas  | Visayas  | 151,420,000,000  | 497,604  | 304,298
6  | Iloilo City | Iloilo  | Western Visayas  | Visayas  | 145,050,000,000  | 457,626  | 316,962
7  | Zamboanga City | Zamboanga del Sur  | Zamboanga Peninsula  | Mindanao  | 139,470,000,000  | 977,234  | 142,719
8  | Bacolod | Negros Occidental  | Western Visayas  | Visayas  | 132,810,000,000  | 600,783  | 221,062
9  | Angeles | Pampanga  | Central Luzon  | Luzon  | 132,420,000,000  | 462,928  | 286,049
10  | General Santos | South Cotabato  | Soccsksargen  | Mindanao  | 129,020,000,000  | 697,315  | 185,024
11  | Mandaue | Cebu  | Central Visayas  | Visayas  | 109,580,000,000  | 364,116  | 300,948
12  | Iligan | Lanao del Norte  | Northern Mindanao  | Mindanao  | 77,020,000,000  | 363,115  | 212,109
13  | Butuan | Agusan del Norte  | Caraga  | Mindanao  | 57,370,000,000  | 372,910  | 153,844
14  | Puerto Princesa | Palawan  | Mimaropa  | Luzon  | 53,080,000,000  | 307,079  | 172,855
15  | Olongapo | Zambales  | Central Luzon  | Luzon  | 52,260,000,000  | 260,317  | 200,755
16  | Tacloban | Leyte  | Eastern Visayas  | Visayas  | 51,530,000,000  | 251,881  | 204,581
17  | Lucena | Quezon  | Calabarzon  | Luzon  | 46,620,000,000  | 278,924  | 167,142
18  | Isabela | Basilan  | Bangsamoro  | Mindanao  | 11,760,000,000  | 130,379  | 90,199

source: Philippine Statistics Authority[123]

## International comparisons

[edit]

Further information: Philippine investment climate and International rankings of the Philippines § Economics

Organization  | Report  | As of  | Change from previous  | Ranking

|
|
|
|

Fraser Institute | Economic Freedom of the World | 2021  |  3  | 70 out of 144[124]
International Monetary Fund | GDP (PPP) | 2023  |  | 29th[125]
International Monetary Fund | GDP (nominal) | 2023  |  5  | 34th[126]
International Monetary Fund | GDP per capita (PPP) | 2023  |  3  | 116th[127]
International Monetary Fund | GDP per capita (nominal) | 2023  |  4  | 124th[128]
International Monetary Fund | Foreign exchange reserves | 2023  |  | 28th[129]
The Heritage Foundation/The Wall Street Journal | Index of Economic Freedom | 2016  |  13  | 76 out of 178[130]
The World Factbook | External debt | 2023  |  3  | 35th[131]
United Nations | Human Development Index | 2021  |  | 116 out of 191[132]
World Economic Forum | Global Competitiveness | 2019  |  8  | 64 out of 141[133]
World Economic Forum | Global Enabling Trade Report | 2014  |  8  | 64 out of 138[134]
World Economic Forum | Financial Development Index | 2012  |  5  | 49 out of 60[135]
World Bank | Ease of doing business index | 2014  |  13  | 95 out of 183[136]

## Statistics

[edit]

See also: Income inequality in the Philippines and Poverty in the Philippines

| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017

|
|
|
|
|
|
|

Social Indicators
Population
(in million)
| 111.9 | 110.9 | 110.1 | 109.2 | 107.3 | 105.8 | 104.2
Poverty (%) | - | - | 18.1 | - | - | 16.6 | \-
Labor Force
(in million)
| 51.2 | 49.0 | 47.7 | 43.9 | 42.4 | 41.2 | 40.3
Unemployment (%) | 4.3 | 5.4 | 7.8 | 10.3 | 5.1 | 5.3 | 5.7
Wage Rates
(Nominal ₱: end-of-period)
| 610.00 | 570.00 | 537.00 | 537.00 | 537.00 | 537.00 | 512.00
Inflation Rate
(Constant 2018 prices; %)
| 6.0 | 5.8 | 3.9 | 2.4 | 2.4 | 5.2 | 2.9
External Sectors
Trade Balance
(US$ million)
| -65,778 | -69,701 | -52,806 | -33,775 | -49,312 | -50,972 | -40,215
Export of Goods
(US$ million)
| 55,316 | 57,710 | 54,228 | 48,212 | 53,477 | 51,977 | 51,814
Import of Goods
(US$ million)
| 121,104 | 127,412 | 107,034 | 81,987 | 102,788 | 102,949 | 92,029
Current Account
(US$ million; % of GDP)
| -11,206 (-2.6) | -18,261 (-4.5) | -5,943 (-1.5) | 11,578 (3.2) | -3,047 (0.8) | -8,877 (-2.6) | -2,143 (-0.7)
External Debt
(US$ million; % of GDP)
| 125,394 (28.7) | 111,268 (27.5) | 106,428 (27.0) | 98,488 (27.2) | 83,618 (22.2) | 78,960 (22.8) | 73,098 (22.3)
Personal Remittances
(US$ million)
| 37,210 | 36,136 | 34,884 | 33,194 | 33,467 | 32,213 | 31,288
Foreign Reserves
(US$ million)
| 103,725 | 96,130 | 108,794 | 110,115 | 87,836 | 79,189 | 81,567
FDI Flows
(Inward; US$ million)
| 8,900 | 9,200 | 10,518 | 6,822 | 8,671 | 9,949 | 10,236
FDI Stock
(Inward; US$ million)
| 118,985 | 112,965 | 113,711 | 103,193 | 94,593 | 82,997 | 73,016
Public Finances
Budget Balance
(₱ billion; % of GDP)
| -1,512 (-6.2) | -1,614 (-7.3) | -1,670 (-8.6) | -1,371 (-7.6) | -660 (-3.4) | -558 (-3.1) | -351 (-2.1)
Revenues
(₱ billion; % of GDP)
| 3,824 (15.7) | 3,546 (16.1) | 3,006 (15.5) | 2,856 (15.9) | 3,137 (16.1) | 2,850 (15.6) | 2,473 (14.9)
Expenditures
(₱ billion; % of GDP)
| 5,336 (21.9) | 5,160 (23.4) | 4,676 (24.1) | 4,227 (23.5) | 3,798 (19.5) | 3,408 (18.7) | 2,824 (17.1)
BSP Rates
(Nominal; O-RRP)
| 0.16 | -5.03 | -1.10 | -0.57 | 2.01 | -1.58 | 0.10
Public Debt
(₱ billion; % of GDP)
| 14,616 (60.1) | 13,419 (60.9) | 11,729 (60.4) | 9,795 (54.6) | 7,731 (39.6) | 7,293 (39.9) | 6,652 (40.2)
Peso-Dollar Rate
(Average Period)
| 55.630 | 54.478 | 49.225 | 49.624 | 51.796 | 52.661 | 50.404
Sources: Bangko Sentral ng Pilipinas[7] and UNCTAD[21]

GDP-related data can be found here:

* Industries: electronics assembly, aerospace, agribusiness, automotive, IT and business process outsourcing, shipbuilding, garments, footwear, pharmaceuticals, chemicals, wood products, financial services, food processing, petrochemical, metalcasting and mining, real estate, textile, tourism[16][17]
* Electricity – production: 106,115 GWh (2021)[137]
* Agriculture – products: abaca, bananas, sugarcane, coconuts, durian, rice, corn, cassavas, mangoes; pork, eggs, beef, pineapples, fish[138]
* Exports – commodities/products: Semiconductors and electronic products, machinery, transport equipment, aerospace/parts, automotive/parts, garments, chemicals, copper, nickel, petroleum products, coconut oil, fruits[138]
* Imports – commodities/products: electronic products, machinery, telecommunication and transport equipment, automotive, chemicals, petroleum, cereals, livestocks, cement and steel, fruits[138]
* Manufacturing Growth: 5.9% (April 2024)[139]
* PMI Manufacturing: 52.2 (April 2024)[140]
* Yield Curve: 10-Year Bond 6.70% (June 2024)[141]
* Net International Investment Position: –$51.317 billion (2023 est.)[142]

## Government budget

[edit]

Main article: Fiscal policy of the Philippines

The national government budget for 2025 has set the following budget allocations:[143][note 2]

Budget allocation  | (PHP, billions)  | (USD, billions)  | Difference from
F.Y. 2024

|
|
|

Department of Education | 977.6  | 16.78  |  0.89%
Department of Public Works and Highways | 900.0  | 15.44  |  10.88%
Department of Health | 297.6  | 5.11  |  0.36%
Department of the Interior and Local Government | 278.4  | 4.78  |  5.33%
Department of National Defense | 256.1  | 4.39  |  6.05%
Department of Social Welfare and Development | 230.1  | 3.95  |  0.78%
Department of Agriculture | 211.3  | 3.60  |  0.49%
Department of Transportation | 180.9  | 3.10  |  59.15%
The Judiciary | 63.6  | 1.09  |  5.35%
Department of Labor and Employment | 40.6  | 0.70  |  5.91%

## See also

[edit]

* Economy portal
* Philippines portal

* Bamboo network
* Emerging markets
* List of companies of the Philippines
* List of largest companies in the Philippines
* Newly industrialized country
* Tiger Cub Economies

## References

[edit]

1. ^ a b c Global Growth: Divergent and Uncertain. International Monetary Fund (Report). p. 11. Retrieved January 19, 2025.
2. ^ "World Bank Country and Lending Groups". World Bank. Retrieved September 29, 2019.
3. ^ Mapa, Claire Dennis S. (July 7, 2021). "2020 Census of Population and Housing (2020 CPH) Population Counts Declared Official by the President" (Press release). Philippine Statistics Authority. Archived from the original on July 7, 2021.
4. ^ "PH 2021 population growth lowest in 7 decades". Philippine News Agency. Retrieved December 27, 2021.
5. ^ a b c d e "World Economic Outlook Database, October 2024". International Monetary Fund. Retrieved January 11, 2025.
6. ^ Mapa, Claire Dennis S. "GDP Expands by 5.2 Percent in the Fourth Quarter of 2024: Brings the Full-Year 2024 GDP Year-on-Year Growth Rate to 5.6 Percent" (Press release). Philippine Statistics Authority. Retrieved January 30, 2025.
7. ^ a b c d e f g h i j "PHILIPPINES: SELECTED ECONOMIC AND FINANCIAL INDICATORS" (PDF). Bangko Sentral ng Pilipinas. Archived (PDF) from the original on March 28, 2024.
8. ^ Mapa, Claire Dennis S. "Summary Inflation Report Consumer Price Index (2018=100): February 2025" (Press release). Philippine Statistics Authority. Retrieved March 5, 2025.
9. ^ Mapa, Claire Dennis S. "Percentage of Filipino Families Classified as Poor Declined to 10.9 percent in 2023". Philippine Statistics Authority (Press release). Archived from the original on July 22, 2024.
10. ^ "Poverty headcount ratio at $3.65 a day (2017 PPP) (% of population)". World Bank. Retrieved November 3, 2019.
11. ^ Mapa, Claire Dennis S. "Highlights of the Preliminary Results of the 2021 Annual Family Income and Expenditure Survey" (Press release). Philippine Statistics Authority. Archived from the original on August 3, 2023. Retrieved August 15, 2022.
12. ^ a b Human Development Index (HDI). Human Development Reports (Report). United Nations Development Programme. Retrieved October 10, 2022.
13. ^ a b c Mapa, Claire Dennis S. "Unemployment Rate in December 2024 was Estimated at 3.1 Percent" (Press release). Philippine Statistics Authority. Retrieved February 6, 2025.
14. ^ Mapa, Claire Dennis S. "Highlights of the 2022 Occupational Wages Survey (OWS)" (Press release). Philippine Statistics Authority. Archived from the original on September 25, 2023. Retrieved September 22, 2023.
15. ^ Mapa, Claire Dennis S. "The country's total gross saving in 2023 expands to PhP 6.60 trillion". Philippine Statistics Authority (Press release). Archived from the original on June 27, 2024.
16. ^ a b "Manufacturing". Industry.gov.ph. Department of Trade and Industry. Archived from the original on February 25, 2023. Retrieved February 25, 2023.
17. ^ a b "Census of Philippine Business and Industry (CPBI)". Philippine Statistics Authority.
18. ^ a b "Philippines (PHL) Exports, Imports, and Trade Partners". The Observatory of Economic Complexity.
19. ^ a b Del Prado, Divina Gracia. "Highlights of the 2023 Foreign Trade Statistics for Agricultural Commodities in the Philippines: Final Results". Philippine Statistics Authority (Press release). Archived from the original on April 12, 2024.
20. ^ a b c d Del Prado, Divina Gracia. "Highlights of the 2023 Annual International Merchandise Trade Statistics of the Philippines". Philippine Statistics Authority (Press release). Archived from the original on April 12, 2024.
21. ^ a b c World Investment Report 2024: Philippines (PDF). United Nations Conference on Trade and Development (Report). Archived (PDF) from the original on June 22, 2024.
22. ^ a b "Special Data Dissemination Standards, Economic and Financial Data for the Philippines". Bangko Sentral ng Pilipinas. Retrieved July 23, 2022.
23. ^ "PHILIPPINES: BALANCE OF PAYMENT". Bangko Sentral ng Pilipinas. Retrieved March 28, 2024.
24. ^ Gonzalez, Anna Leah. "PH debt-to-GDP improves in 2023". Philippine News Agency. Archived from the original on January 31, 2024.
25. ^ "Gross International Reserves". Bangko Sentral ng Pilipinas. Retrieved January 1, 2023.
26. ^ "NEDA: Foreign aid releases slightly increased in 2011 | Inquirer Business". Philippine Daily Inquirer. March 5, 2012. Retrieved October 12, 2012.
27. ^ "Philippines: Japan Credit Rating Agency, Ltd" (PDF). JCR. Retrieved March 10, 2023.
28. ^ Gonzalez, Anna Leah. "S&P Global Ratings raises PH credit outlook to positive". Philippine News Agency. Retrieved November 26, 2024.
29. ^ Moaje, Marita. "Moody's affirms PH's 'BAA2' investment-grade credit rating". Philippine News Agency. Retrieved August 23, 2024.
30. ^ "Philippines". Fitch Ratings. Retrieved May 22, 2023.
31. ^ "The World Bank in the Philippines". World Bank. Retrieved March 21, 2022.
32. ^ "High Growth Potential for U.S. Agricultural Exports to the Philippines". USDA Foreign Agricultural Service. June 8, 2022. Macroeconomic Perspective. Archived from the original on June 13, 2022. Retrieved August 9, 2023.
33. ^ "The Philippines: September 1999". World Trade Organization. September 20, 1999.
34. ^ ""The World in 2050."". PwC. Retrieved February 1, 2017.
35. ^ "Philippines poised to be 22nd biggest economy in the world by 2035 — CEBR". BusinessWorld. December 28, 2020. Archived from the original on May 20, 2022. Retrieved December 29, 2020.
36. ^ Cordero, Ted (March 19, 2024). "Philippines could be a $2-trillion economy in next decade —World Economic Forum". GMA Integrated News. Retrieved March 20, 2024.
37. ^ Esmael, Lisbet (January 26, 2023). "Strongest since 1976: PH records 7.6% economic growth in 2022". CNN Philippines. Archived from the original on January 26, 2023. Retrieved March 18, 2023.
38. ^ a b International Monetary Fund. (April 2012). World Economic Outlook Data, By Country – Philippines: [selected annual data for 1980–2017]. Retrieved 2012-06-23 from the World Economic Outlook Database.
39. ^ "World Economic Outlook (WEO) Database April 2010 – Report for Selected Countries and Subjects – Philippines and United States". International Monetary Fund. April 2010.
40. ^ a b "National Accounts of the Philippines (NAP)". National Statistical Coordination Board. Archived from the original on November 13, 2012.
41. ^ "Report for Selected Countries and Subjects". International Monetary Fund. Retrieved March 3, 2015.
42. ^ "Report for Selected Countries and Subjects". International Monetary Fund. Imf.org. April 16, 2013. Retrieved April 19, 2013.
43. ^ International Monetary Fund. (October 2010). The Philippine Stock Exchange, It is one of the oldest stock exchanges in Southeast Asia, having been in continuous operation since its inception in 1927. It currently maintains two trading floors, one at the Ayala Tower One in the Makati Central Business District, and one at its headquarters in Pasig. The PSE is composed of a 15-man Board of Directors, chaired by Jose T. Pardo. World Economic Outlook Data, By Country – Philippines: [selected annual data for 1980–2015]. Retrieved 2011-01-31 from the World Economic Outlook Database.
44. ^ "The World Economic Outlook (WEO) Database April 2002 – Real Gross Domestic Product (annual percent change) – All countries". International Monetary Fund. April 2002.
45. ^ "Philippines: Selected Economic and Financial Indicators (2018=100)" (PDF). Bangko Sentral ng Pilipinas. Archived (PDF) from the original on March 6, 2023. Retrieved March 3, 2023.
46. ^ "Philippines", The World Factbook, Central Intelligence Agency, September 27, 2021, retrieved October 11, 2021
47. ^ a b del Rosario, King. "MBA Buzz: More Funds in the Philippines". Globis. Archived from the original on April 7, 2014. Retrieved June 11, 2013.
48. ^ Starr, Kevin (June 22, 2011). Coast of Dreams. Knopf Doubleday Publishing Group. p. 159\. ISBN 978-0-307-79526-7.
49. ^ Gonzalez, Anna Leah. "Remittances from overseas Filipinos hit all-time high in 2024". Philippine News Agency. Archived from the original on February 17, 2025.
50. ^ "Employment situation as of December 2022". Philippine Statistics Authority (Press release). Retrieved February 8, 2023.
51. ^ "Agriculture shared (%) of the total GDP". Philippine Statistics Authority. Retrieved February 22, 2023.
52. ^ Behnassi, Mohamed; Gupta, Himangana; Baig, Mirza Barjees; Noorka, Ijaz Rasool (October 20, 2022). The Food Security, Biodiversity, and Climate Nexus. Springer Nature. p. 252. ISBN 978-3-031-12586-7. Retrieved March 3, 2023.
53. ^ Hayami, Yūjirō; Quisumbing, Maria Agnes R.; Adriano, Lourdes S. (1990). Toward an alternative land reform paradigm: a Philippine perspective. Ateneo de Manila University Press. p. 108\. ISBN 978-971-11-3096-1. Retrieved November 15, 2011.
54. ^ "World pineapple production by Country". Statista. Retrieved September 27, 2020.
55. ^ "This is how much rice is produced around the world - and the countries that grow the most". World Economic Forum. March 9, 2022. Archived from the original on March 9, 2022. Retrieved April 25, 2023.
56. ^ Narvaez-Soriano, Nora (1994). A Guide to Food Selection, Preparation and Preservation. Rex Book Store, Inc. p. 120. ISBN 978-971-23-0114-8. Retrieved March 11, 2023.
57. ^ "Top 10 Rice Farming Regions in the Philippines". Mindanao Times. January 30, 2022. Archived from the original on January 31, 2022. Retrieved April 25, 2023.
58. ^ Agoot, Liza (December 22, 2020). "PH logs highest rice production rate at 19.44M metric tons: DA". Philippine News Agency. Archived from the original on December 27, 2020. Retrieved April 25, 2023.
59. ^ "ESS Website ESS : Statistics home". Food and Agriculture Organization of the United Nations. Retrieved March 3, 2015.
60. ^ "Historical Statistics". Sugar Regulatory Administration. Archived from the original on December 9, 2022. Retrieved March 3, 2015.
61. ^ Master Plan For the Philippine Sugar Industry. Sugar Master Plan Foundation, Inc. 2010. p. 7.
62. ^ a b Crismundo, Kris. "PH vehicle assemblers post record-high sales in 2024". Philippine News Agency. Retrieved January 14, 2025.
63. ^ Oslowski, Justin (March 25, 2003). "Automotive Production in the Philippines". Innovation, Science and Economic Development Canada. Archived from the original on December 8, 2007. Retrieved December 11, 2007.
64. ^ Panganiban, Ira (March 14, 2023). "Chinese cars and ride-hailing cars". The Manila Times. Archived from the original on March 14, 2023. Retrieved April 7, 2023.
65. ^ Tan, Alyssa Nicole O. (May 22, 2022). "Foton plans expansion with six new dealership locations". BusinessWorld. Archived from the original on May 22, 2022. Retrieved April 7, 2023.
66. ^ Bamber, Penny; Frederick, Stacey; Gereffi, Gary (May 2016). The Philippines in the Aerospace Global Value Chain. ResearchGate (Technical report). Duke University Center on Globalization, Governance and Competitiveness. pp. vi, 47, 50, 52, 54. Retrieved August 10, 2023.
67. ^ "Aerospace Industry supports RCEP". Philippine Information Agency. January 27, 2022. Retrieved March 3, 2023.
68. ^ Gatdula, Donnabelle (January 30, 2006). "TransCo installs 50-MVA transformer in Benguet". The Philippine Star. Archived from the original on April 23, 2023. Retrieved April 23, 2023.
69. ^ Chiu, Rey Anthony (July 13, 2007). "Intel Phils manager debunks negative perception". Philippine Information Agency (Press release). Archived from the original on April 23, 2023. Retrieved April 23, 2023.
70. ^ "Texas Instruments in Baguio retrenches 392 employees". C114 - China Communication Network. January 9, 2009. Archived from the original on July 6, 2010. Retrieved October 12, 2012.
71. ^ Osorio, Ma. Elisa (February 20, 2009). "Toshiba unit to expand RP operations". The Philippine Star. Archived from the original on November 26, 2020. Retrieved April 23, 2023.
72. ^ "Contact Lexmark". Lexmark Philippines. Archived from the original on December 6, 2022. Retrieved April 7, 2023.
73. ^ Reyes-Macasaquit, Mari-Len (2010). "4: Case Study of the Electronics Industry in the Philippines: Linkages and Innovation". In Intarakumnerd (ed.). Fostering Production and Science and Technology Linkages to Stimulates Innovation in ASEAN (PDF) (Report). Economic Research Institute for ASEAN and East Asia. pp. 146–147\. Archived from the original (PDF) on August 19, 2019. Retrieved April 23, 2023.146-147&rft.pub=Economic+Research+Institute+for+ASEAN+and+East+Asia&rft.date=2010&rft.aulast=Reyes-Macasaquit&rft.aufirst=Mari-Len&rft_id=https://www.eria.org/uploads/media/Research-Project-Report/RPR_FY2009_7-4_Chapter_4.pdf&rfr_id=info:sid/en.wikipedia.org:Economy+of+the+Philippines" class="Z3988">
74. ^ "Homepage |". Semiconductor and Electronics Industries in the Philippines Foundation. Archived from the original on September 20, 2023. Retrieved April 19, 2023.
75. ^ "Highlights of the 2022 Annual International Merchandise Trade Statistics of the Philippines". PSA (Press release). Archived from the original on August 3, 2023. Retrieved April 1, 2023.
76. ^ a b Power Planning and Development Division, Electric Power Industry Management Bureau. 2019 Power Situation Report (PDF). Department of Energy (Report). p. 7. Retrieved February 19, 2023.
77. ^ The Report: Philippines 2016. Oxford Business Group. April 8, 2016. p. 122. ISBN 978-1-910068-55-7. Retrieved February 27, 2023.
78. ^ Schneider, Keith (June 8, 2017). "The Philippines, a nation rich in precious metals, encounters powerful opposition to mining". Mongabay. Archived from the original on July 10, 2017. Retrieved July 18, 2020.
79. ^ Cinco, Maricar (June 3, 2016). "Firm sees metal costlier than gold in Romblon sea". Philippine Daily Inquirer. Archived from the original on July 24, 2020. Retrieved July 24, 2020.
80. ^ Teves, Catherine (December 11, 2020). "Total mineral product export earnings rise". Philippine News Agency. Archived from the original on December 13, 2020. Retrieved April 13, 2023.
81. ^ Conde, Carlos H. (December 3, 2004). "Court ruling in Philippines buoys mining sector there". The New York Times. Retrieved January 15, 2021.
82. ^ McRae, Michele E. (January 2021). Mineral Commodity Summaries: Nickel (PDF) (Report). United States Geological Survey. Archived from the original (PDF) on February 16, 2021.
83. ^ Shedd, Kim B. (January 2021). Mineral Commodity Summaries: Cobalt (PDF) (Report). United States Geological Survey. Archived from the original (PDF) on February 13, 2021.
84. ^ "Philippines' Class A Gold, Copper, Nickel and Chromite Resources Valued at PhP 491.19 Billion in 2022". PSA (Press release). Archived from the original on July 6, 2023. Retrieved July 6, 2023.
85. ^ IBM Global Business Services. (October 2008). Global Location Trends – 2008 Annual Report[permanent dead link‍]
86. ^ Balana, Cynthia D. and Lawrence de Guzman. (December 5, 2008). It's official: Philippines bests India as No. 1 in BPO Archived September 26, 2012, at the Wayback Machine. The Philippine Daily Inquirer.
87. ^ Garcia, Cathy Rose A. (March 21, 2012). "BPO industry to generate 100,000 jobs this year: WB". ABS-CBN News.
88. ^ Arenas, Guillermo; Coulibaly, Souleymane (November 14, 2022). A New Dawn for Global Value Chain Participation in the Philippines. World Bank Publications. p. 28–29. ISBN 978-1-4648-1848-6. Retrieved February 27, 2023.
89. ^ Philippine Economic Zone Authority."Information Technology Parks/Centers". Philippine Economic Zone Authority. Archived from the original on August 3, 2019. Retrieved July 4, 2019.
90. ^ "Bacolod still 'center of excellence' for IT-BPO". SunStar. July 2, 2020. Archived from the original on August 8, 2020. Retrieved April 27, 2023.
91. ^ "foreign companies eye local BPO sector". Philippine Daily Inquirer. Retrieved August 5, 2015.
92. ^ Friginal, Eric (2009). The Language of Outsourced Call Centers: A Corpus-based Study of Cross-cultural Interaction. John Benjamins Publishing. p. 17. ISBN 978-90-272-2308-1. Retrieved April 13, 2023.
93. ^ Snow, Donald M.; Haney, Patrick J. (August 2, 2017). U.S. Foreign Policy: Back to the Water's Edge. Rowman & Littlefield. p. 262. ISBN 978-1-4422-6818-0. Retrieved April 13, 2023.
94. ^ "The Philippines – Poised for Growth Through BPO". DCR TrendLine. April 1, 2015. Archived from the original on November 17, 2015. Retrieved November 10, 2015.
95. ^ Overland, Indra; Sagbakken, Haakon Fossum; Chan, Hoy-Yen; Merdekawati, Monika; Suryadi, Beni; Utama, Nuki Agya; Vakulchuk, Roman (December 2021). "The ASEAN climate and energy paradox". Energy and Climate Change. 2: 100019. doi:10.1016/j.egycc.2020.100019. hdl:11250/2734506.
96. ^ Series of Economic Fora Session 6: Energy Services and Renewable Energy in the New Normal. Department of the Interior and Local Government (Philippines), Center for Research and Communication.
97. ^ "DOE opens RE for full foreign ownership". Manila Bulletin. Retrieved November 16, 2022.
98. ^ Crismundo, Kris. "Danish firm investing $5-B for offshore wind projects in PH". Philippine News Agency. Retrieved March 30, 2023.
99. ^ "DOE to achieve renewable energy goals via reforms". Philippine News Agency. Retrieved February 3, 2023.
100. ^ Reyes, Daniel A. (November 27, 2013). The Philippine Shipbuilding Industry (PDF). Organisation for Economic Co-operation and Development (Report). Paris, France. Archived from the original (PDF) on September 10, 2015. Retrieved April 26, 2023.
101. ^ "Robust shipbuilding industry key to making PHL a maritime power". BusinessWorld. April 17, 2023. Archived from the original on April 17, 2023. Retrieved April 26, 2023.
102. ^ "Cebu shipbuilder to deliver PHs largest vessel". Philippine Daily Inquirer. Archived from the original on August 6, 2014. Retrieved March 3, 2015.
103. ^ "Registered Shipbuilding and Ship Repair Entity With Facilities, Manpower & Capitalization in Central Office (as of December 2017)" (PDF). Maritime Industry Authority. Archived from the original (PDF) on January 17, 2022. Retrieved August 9, 2023.
104. ^ "Philippines Shipbuilding Hub In Asia-Pacific". Manila Bulletin. December 4, 2012. Archived from the original on April 4, 2015. Retrieved March 3, 2015 - via Yahoo! News Philippines.
105. ^ UN Conference on Trade and Development annual report on shipbuiding, by country (2023). UN Conference on Trade and Development (Report).
106. ^ "New era as shipbuilding production begins in the Philippines". Shipping Times. Archived from the original on May 9, 2007. Retrieved March 3, 2015.
107. ^ Poole, William. "Big ambitions for Philippines shipbuilding". Baird Maritime. Archived from the original on April 2, 2015. Retrieved March 3, 2015.
108. ^ "Filipino firm invests P259M for shipyard in Navotas". BusinessMirror. Archived from the original on December 16, 2012. Retrieved January 12, 2013.
109. ^ "How shipbuilding contributes to PH economic growth". The Manila Times. March 19, 2022. Archived from the original on March 26, 2022. Retrieved April 26, 2023.
110. ^ "2022 POESA Infographics". PSA (Press release). Archived from the original on October 24, 2023.
111. ^ "Ocean-based industries grew by 21.1 Percent in 2022, Accounted for 3.9 Percent of GDP". PSA (Press release). Archived from the original on October 24, 2023.
112. ^ a b Mapa, Claire Dennis S. "Tourism Posted Highest Growth in 2023, Contributing 8.6 Percent to the Economy" (Press release). Philippine Statistics Authority. Archived from the original on June 18, 2024.
113. ^ "Share of Tourism to GDP is 12.7 percent in 2019" (Press release). Philippine Statistics Authority. Retrieved June 19, 2020.
114. ^ Inquirer, Philippine Daily (December 30, 2021). "ADBI floats idea of ocean tourism in PH". INQUIRER.net. Retrieved September 27, 2023.
115. ^ "The problem with the Philippine tourism industry". Archived from the original on December 3, 2021. Retrieved August 11, 2020.
116. ^ "Philippines to temporarily shut down tourist island". www.aljazeera.com. Retrieved August 18, 2023.
117. ^ "PH hits record-high tourism revenue of P760-B in 2024". Philippine News Agency. January 6, 2025.
118. ^ a b "Daang Matuwid – Achievements". Official Gazette of the Republic of Philippines. Archived from the original on May 29, 2022. Retrieved May 27, 2016.
119. ^ "Visitor Arrivals; January – December 2019" (PDF). Department of Tourism. Archived from the original (PDF) on May 2, 2020. Retrieved August 13, 2020.
120. ^ Mapa, Claire Dennis S. (April 27, 2023). "All Economies of 17 Regions Continue to Record Positive Growths in 2022; Western Visayas was the Fastest Growing Region at 9.3 Percent" (PDF). Philippine Statistics Authority (Press release). Archived from the original (PDF) on April 27, 2023. Retrieved May 13, 2023.
121. ^ "Gross Regional Domestic Product". PSA OpenSTAT. Philippine Statistics Authority.
122. ^ "Authentication challenge pages".
123. ^ "Authentication challenge pages".
124. ^ "Economic Freedom of the World: 2023 Annual Report" Archived February 28, 2024, at the Wayback Machine Fraser Institute | Retrieved February 28, 2024.
125. ^ List of countries by past and projected GDP (PPP)
126. ^ List of countries by past and projected GDP (nominal)
127. ^ List of countries by GDP (PPP) per capita
128. ^ List of countries by GDP (nominal) per capita
129. ^ List of countries by foreign-exchange reserves
130. ^ "Index Data 2016". The Heritage Foundation. Archived from the original on February 7, 2016. Retrieved September 10, 2017.
131. ^ External Debt List of countries by external debt
132. ^ "Human Development Report 2021/2022" (PDF). United Nations Development Programme. Retrieved February 28, 2023.
133. ^ "The Global Competitiveness Report 2019" (PDF). World Economic Forum. Retrieved February 28, 2023.
134. ^ "Phl moves up in WEF Enabling Trade Index". The Philippine Star. Retrieved March 3, 2015.
135. ^ "The Financial Development Index 2012 rankings: Comparison with 2011" (PDF). World Economic Forum. Retrieved September 15, 2014.
136. ^ "Ease of Doing Business Report". Doing Business. The World Bank. Archived from the original on October 6, 2013. Retrieved September 28, 2013.
137. ^ 2021 Power Statistics (PDF). Department of Energy (Report).
138. ^ a b c CIA World Factbook, Philippines, Retrieved May 15, 2009.
139. ^ "Production Index and Net Sales Index (Monthly Integrated Survey of Selected Industries) April 2024 (2018=100)". Philippine Statistics Authority (Press release). Retrieved June 7, 2024.
140. ^ PHL S&P Global Philippines Manufacturing PMI. S&P Global (Report). Retrieved May 2, 2024.[permanent dead link‍]
141. ^ "PDEX FIXED INCOME (FI) MARKET SUMMARY". Bureau of the Treasury. Retrieved June 20, 2024.
142. ^ "PHL-International Investment Position (BPM6)". Bangko Sentral ng Pilipinas. Retrieved October 1, 2022.
143. ^ "Briefer on the 2025 Proposed National Budget" (Press release). Department of Budget and Management. Archived (PDF) from the original on January 3, 2025.

## Notes

[edit]

1. ^ a b Goods and services at current prices.
2. ^ The figures from previous national budget may not reflect the latest due to fiscal adjustments and developments.

## Further reading

[edit]

* Balisacan, Arsenio; Hal Hill (2003). The Philippine Economy: Development, Policies, and Challenges. New York: Oxford University Press. p. 496\. ISBN 978-0-19-515898-4. Archived from the original on June 28, 2011.
* Balisacan, Arsenio; Hal Hill (2007). The Dynamics of Regional Development: The Philippines in East Asia (PDF). Cheltenham, UK: Edward Elgar. Archived from the original (PDF) on December 8, 2010.
* Bhagwati, Jagdish and Anne Krueger. (1974). Foreign Trade Regimes and Economic Development. National Bureau of Economic Research.
* Hawes, Gary, And Ruth T. Mcvey. (2018) "Marcos, His Cronies, and the Philippines' Failure to Develop." Southeast Asian Capitalists (Cornell University Press, 2018) pp. 145–160.
* Hutchcroft, Paul D. (1998). Booty Capitalism: The Politics of Banking in the Philippines. Cornell University Press. ISBN 9781501738630.
* Kang, David C. (2002). Crony Capitalism – Corruption and Development in South Korea and the Philippines. Cambridge University Press. ISBN 978-0-521-00408-4.
* Krinks, Peter. The economy of the Philippines: Elites, inequalities and economic restructuring (Routledge, 2003_.
* Villegas, Bernardo. (2010). The Philippine Advantage (3rd ed.). Manila: University of Asia and the Pacific.
* Yang, Lan, et al. "Can an island economy be more sustainable? A comparative study of Indonesia, Malaysia, and the Philippines." Journal of Cleaner Production 242 (2020): 118572.
* The Impact of Trade on Employment in the Philippines: Country Report (PDF). Makati City, Philippines: International Labour Organization. April 2019. ISBN 978-92-2-133021-9. Archived from the original (PDF) on January 24, 2022.
* State of the Philippine Islands (1821) online
* Philippines – Asia's new tiger economy
* Philippines' opportunity point

## External links

[edit]

Wikimedia Commons has media related to Economy of the Philippines.

* Bangko Sentral ng Pilipinas (Central Bank of the Philippines)
* Department of Trade and Industry
* Department of Finance Archived February 28, 2009, at the Wayback Machine
* Philippine Stock Exchange
* Department of Tourism
* Philippine Economic Zone Authority

Trade

* World Bank Summary Trade Statistics Philippines 2020

* v
* t
* e

Economy of the Philippines

History|

* Monetary evolution
* Martial Law
* Laurel–Langley Agreement
* 1997 Asian financial crisis
* NIC
* Tiger Cub Economies
* Asian Century
* Financial crisis of 2007–08
* Largest projects

Industry and Business|

* Agriculture
* Automotive
* Business outsourcing
* Energy
* Power plants
* Gambling
* Internet
* Radio
* Telecommunications
* Television
* Companies

Economic Regions|

* North Luzon Agribusiness Quadrangle
* Metro Luzon Urban Beltway
* Central Philippines Region
* Mindanao Super Region
* Cyber Corridor

Finance|

* Fiscal policy
* Central Bank
* Philippine peso
* Stock Exchange
* Billionaires

Trade and Infrastructure|

* Transportation
* Tourism
* Waterworks
* Shipping

Taxation|

* Tax System
* Bureau of Internal Revenue

Institutions|

* Department of Energy
* Department of Finance
* Department of Trade and Industry
* Action For Economic Reforms

* v
* t
* e

Philippines articles

History|

| Overviews|

* Archaeology
* Economy
* Military
* Political

|

Chronology|

* Prehistory
* Pre-colonial era
* Colonial era
* Spanish period
* American period
* Japanese occupation
* Postcolonial era
* Third Republic
* Marcos presidency
* Fifth Republic

Geography|

* Bays
* Biosphere reserves
* Borders
* Climate
* Climate change
* Typhoons
* Earthquakes
* Ecoregions
* Extreme points
* Island groups
* islands
* Lakes
* Mountains
* Protected areas
* National parks
* Ramsar sites
* Rivers
* Volcanoes
* Wildlife
* World Heritage Sites

Politics|

* Administrative divisions
* Constitution
* Elections
* Foreign relations
* Human rights
* LGBT
* Legal codes
* Political families
* Political parties

| Government|

* Executive
* Cabinet
* lists
* Executive departments
* Executive office
* Law enforcement
* President
* Legislative
* Senate
* House of Representatives
* Judicial
* Supreme Court
* Court of Appeals
* Regional Trial Court
* Armed Forces
* Air Force
* Army
* Navy
* Marine Corps
* Coast Guard

|

Economy|

* Agriculture
* Automotive
* Business process outsourcing
* Census
* Central bank
* Child labor
* Energy
* Fiscal policy
* National debt
* Labor
* Peso
* Science and technology
* Stock exchange
* Taxation
* Telecommunications
* Telephone numbers
* Tourism
* Tourist attractions
* Transportation
* Water and sanitation
* ZIP codes

Society|

* Abortion
* Censorship
* Corruption
* Crime
* Demographics
* Divorce
* Education
* Higher education
* Environmental issues
* Climate change
* Deforestation
* Ethnic groups
* Indigenous peoples
* Genetics
* Health
* Human trafficking
* Sex trafficking
* Immigration
* Income inequality
* Kinship
* Languages
* Overseas workers
* Poverty
* Prostitution
* Refugees
* Religion
* Sexuality
* Squatting
* Women
* Pinoy

| Culture|

* Architecture
* Arts
* Cinema
* Cuisine
* Cultural properties
* Dance
* Fashion and clothing
* Historical markers
* Inventions
* Literature
* Media
* Music
* Mythology
* Name
* Public holidays
* Festivals
* Psychology
* Sports
* Traditional games
* Value system

|

Symbols|

* Anthem
* Bird
* Coat of arms
* Flag
* Flower
* Gem
* Great Seal
* Language
* Motto
* Sign language
* Sport and martial art
* Tree

* Outline
* Bibliography

* Philippines portal
* Category

* v
* t
* e

Economy of Asia

Sovereign states|

* Afghanistan
* Armenia
* Azerbaijan
* Bahrain
* Bangladesh
* Bhutan
* Brunei
* Cambodia
* China
* Cyprus
* Egypt
* Georgia
* India
* Indonesia
* Iran
* Iraq
* Israel
* Japan
* Jordan
* Kazakhstan
* North Korea
* South Korea
* Kuwait
* Kyrgyzstan
* Laos
* Lebanon
* Malaysia
* Maldives
* Mongolia
* Myanmar
* Nepal
* Oman
* Pakistan
* Philippines
* Qatar
* Russia
* Saudi Arabia
* Singapore
* Sri Lanka
* Syria
* Tajikistan
* Thailand
* Timor-Leste (East Timor)
* Turkey
* Turkmenistan
* United Arab Emirates
* Uzbekistan
* Vietnam
* Yemen

States with
limited recognition|

* Abkhazia
* Northern Cyprus
* Palestine
* South Ossetia
* Taiwan

Dependencies and
other territories|

* British Indian Ocean Territory
* Christmas Island
* Cocos (Keeling) Islands
* Hong Kong
* Macau

* Category
* Asia portal

* v
* t
* e

World Trade Organization

System|

* Accession and membership
* Appellate Body
* Dispute Settlement Body
* International Trade Centre
* Chronology of key events

Issues|

* Criticism
* Doha Development Round
* Singapore issues
* Quota Elimination
* Peace Clause

Agreements|

* General Agreement on Tariffs and Trade
* Agriculture
* Sanitary and Phytosanitary Measures
* Technical Barriers to Trade
* Trade-Related Investment Measures
* Trade in Services
* Trade-Related Aspects of Intellectual Property Rights
* Government Procurement
* Information Technology
* Marrakesh Agreement
* Doha Declaration
* Bali Package

Ministerial
Conferences|

* 1st (1996)
* 2nd (1998)
* 3rd (1999)
* 4th (2001)
* 5th (2003)
* 6th (2005)
* 7th (2009)
* 8th (2011)
* 9th (2013)
* 10th (2015)
* 11th (2017)
* 12th (2022)

People|

* Ngozi Okonjo-Iweala (Director-General)
* Roberto Azevêdo
* Pascal Lamy
* Supachai Panitchpakdi
* Alejandro Jara
* Rufus Yerxa

Members|

* Afghanistan
* Albania
* Algeria
* Angola
* Antigua and Barbuda
* Argentina
* Armenia
* Australia
* Bahrain
* Bangladesh
* Barbados
* Belize
* Benin
* Bolivia
* Botswana
* Brazil
* Brunei
* Burkina Faso
* Myanmar
* Burundi
* Cambodia
* Cameroon
* Canada
* Cape Verde
* Central African Republic
* Chad
* Chile
* China
* Colombia
* Democratic Republic of the Congo
* Republic of the Congo
* Costa Rica
* Ivory Coast
* Cuba
* Djibouti
* Dominica
* Dominican Republic
* Ecuador
* Egypt
* El Salvador
* Eswatini
* Fiji
* Gabon
* The Gambia
* Georgia
* Ghana
* Grenada
* Guatemala
* Guinea
* Guinea-Bissau
* Guyana
* Haiti
* Honduras
* Hong Kong1
* Iceland
* India
* Indonesia
* Israel
* Jamaica
* Japan
* Jordan
* Kazakhstan
* Kenya
* South Korea
* Kuwait
* Kyrgyzstan
* Laos
* Lesotho
* Liberia
* Liechtenstein
* Macau1
* Madagascar
* Malawi
* Malaysia
* Maldives
* Mali
* Mauritania
* Mauritius
* Mexico
* Moldova
* Mongolia
* Montenegro
* Morocco
* Mozambique
* Namibia
* Nepal
* New Zealand
* Nicaragua
* Niger
* Nigeria
* North Macedonia
* Norway
* Oman
* Pakistan
* Panama
* Papua New Guinea
* Paraguay
* Peru
* Philippines
* Qatar
* Russia
* Rwanda
* St. Kitts and Nevis
* St. Lucia
* St. Vincent and the Grenadines
* Samoa
* Saudi Arabia
* Senegal
* Seychelles
* Sierra Leone
* Singapore
* Solomon Islands
* South Africa
* Sri Lanka
* Suriname
* Switzerland
* Tajikistan
* Taiwan2
* Tanzania
* Thailand
* Togo
* Tonga
* Trinidad and Tobago
* Tunisia
* Turkey
* Uganda
* Ukraine
* United Arab Emirates
* United Kingdom
* United States
* Uruguay
* Venezuela
* Vietnam
* Yemen
* Zambia
* Zimbabwe

| European Union|

* Austria
* Belgium
* Bulgaria
* Croatia
* Cyprus
* Czech Republic
* Denmark
* Estonia
* Finland
* France
* Germany
* Greece
* Hungary
* Ireland
* Italy
* Latvia
* Lithuania
* Luxembourg
* Malta
* Netherlands
* Poland
* Portugal
* Romania
* Slovakia
* Slovenia
* Spain
* Sweden

|

1. Special administrative regions of the People's Republic of China, participating as "Hong Kong, China" and "Macao, China".
2. Officially the Republic of China, participates as "Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu", and "Chinese Taipei" in short.

World portal
*[GRDP]: Gross regional domestic product
*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template