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 (2021): China, Japan, and United States
Top 3 Exported Goods (2021): Electrical Machinery, Industrial Machinery, and Copper

Top Industries Source: CIA World Factbook

Electronics Assembly; Garments; Footwear; Pharmaceuticals

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $1,012,713,767,557 (2021)
GDP Growth Rate (annual %) 5.703% (2021)
GDP Per Capita, PPP (current international) $8,893 (2021)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 29/197 (2021)

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 %) 3.927% (2021)
External debt stocks, total (DOD, current US$) $106,427,962,610 (2021)
Total tax rate (% of commercial profits) 43.1% (2019)
Real Interest Rate (5 year average %) 6.354% (2019)
Manufacturing, value added (% of GDP) 17.637% (2021)
Current Account Balance (BoP, current US$) ($6,008,802,646) (2021)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 44,242,102 (2021)
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 2.406% (2021)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $148,804,215,460 (2021)
Exports of goods and services (current US$) $101,446,840,165 (2021)
Total Merchandise Trade (% of GDP) 50.498% (2021)
FDI, net inflows (BoP, current US$) $10,518,036,731 (2021)
Commercial Service Exports (current US$) $33,541,391,475 (2021)
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