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) $919,424,001,018 (2020)
GDP Growth Rate (annual %) -9.573% (2020)
GDP Per Capita, PPP (current international) $8,390 (2020)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 27/197 (2020)

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 %) 2.635% (2020)
External debt stocks, total (DOD, current US$) $83,660,996,210 (2019)
Total tax rate (% of commercial profits) 43.1% (2019)
Real Interest Rate (5 year average %) 6.354% (2019)
Manufacturing, value added (% of GDP) 17.672% (2020)
Current Account Balance (BoP, current US$) $12,978,699,962 (2020)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 43,719,193 (2020)
Employment in Agriculture (% of total employment) 22.519% (2020)
Employment in Industry (% of total employment) 19.847% (2020)
Employment in Services (% of total employment) 57.635% (2020)
Unemployment Rate 3.36% (2020)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $119,243,629,944 (2020)
Exports of goods and services (current US$) $91,052,332,262 (2020)
Total Merchandise Trade (% of GDP) 42.718% (2020)
FDI, net inflows (BoP, current US$) $8,671,365,874 (2019)
Commercial Service Exports (current US$) $31,391,142,416 (2020)
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

Sources

  1. The World Bank