Economic Trivia

The Philippine Constitution and the other laws continue to restrict foreign ownership in important activities/sectors (such as land ownership and public utilities).

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2019): China, Japan, and United States
Top 3 Exported Goods (2019): Electrical Machinery, Industrial Machinery, and Fruit & Nuts

Top Industries Source: CIA World Factbook

Electronics Assembly; Garments; Footwear; Pharmaceuticals

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $887,473,707,655 (2018)
GDP Growth Rate (annual %) 6.244% (2018)
GDP Per Capita, PPP (current international) $8,321 (2018)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 28/196 (2018)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 2.48% (2019)
External debt stocks, total (DOD, current US$) $78,824,362,850 (2018)
Total tax rate (% of commercial profits) 43.1% (2019)
Real Interest Rate (5 year average %) 2.272% (2018)
Manufacturing, value added (% of GDP) 19.054% (2018)
Current Account Balance (BoP, current US$) ($3,386,252,041) (2019)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 44,815,316 (2019)
Employment in Agriculture (% of total employment) 23.405% (2019)
Employment in Industry (% of total employment) 19.438% (2019)
Employment in Services (% of total employment) 57.157% (2019)
Unemployment Rate 2.15% (2019)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $146,840,634,453 (2018)
Exports of goods and services (current US$) $104,845,645,158 (2018)
Total Merchandise Trade (% of GDP) 57.005% (2018)
FDI, net inflows (BoP, current US$) $9,832,332,891 (2018)
Commercial Service Exports (current US$) $38,392,834,337 (2018)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Philippines’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment


  1. The World Bank