The Philippines


The Philippines Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in The Philippines; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bangko Sentral ng Pilipinas
International Reserves US$ 75.123 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 227.584 billion (2011 estimate)
GDP (Purchasing Power Parity) 411.903 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
1.8% 4.4% 4.9% 6.4% 5% 5.3% 7.1% 4.2%
2009 2010 2011 2012*
1.1% 7.6% 3.7% 4.2%

*Estimate

GDP per capita - current prices US$ 2,329 (2010 estimate)
GDP per capita - PPP $4,214 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.53% 0.46% 0.42% 0.49% 0.51%

**Forecast

GDP - composition by sector
  • agriculture: 12.3% 
  • industry: 33.3% 
  • services: 54.4% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
4.2%(2008) 3.8% 4.8% 3.4%

*Estimate

Unemployment rate
2009 2010 2011 2012*
7.5% 7.3% 7%(2009) 7%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
44.2% 44.3% 42.2% 40.5% 40.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
0% -2.7% -2.2% -0.8% -1.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB+

Moody's rating: Ba1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$85.63 billion US$130.5 billion  US$202.3 billion
Largest companies in The Philippines San Miguel (Beverages), SM Investments (Department Stores), Manila Electric (Electric Utilities), Aboitiz Equity Ventures (Investment services), Bank Philippine Islands (Regional Banks), Metropolitan Bank & Trust (Regional Banks), BDO Unibank (Regional Banks), PLDT (Telecommunications services) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ 2.1 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP 0.9% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

34.8% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.26%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.37% (2011)(2007)

(Data were released in 2012)

Total exports US$50.96 billion (2012 estimate) 
Export commodities semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits
Total imports US$65 billion (2012 estimate) 
Import commodities electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic
Exports - major partners China 21.3%, Japan 14.1%, US 13.9%, Singapore 8.9%, Hong Kong 7.5%, South Korea 4.7% (2009 estimate)
Imports - major partners China 14.6%, Japan 12.3%, US 9.4%, South Korea 8.4%, Singapore 8%, Thailand 5.6%, Indonesia 4.1% (2009 estimate)
FDI inflows
2009 2010 2011
US$1,963 million US$1,298 million(2009) US$1,262 million(2009)
FDI outflows
2009 2010 2011
US$359 million US$616 million US$9 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$-174 million US$-7 million(2009) US$19 million(2009) US$466 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 138 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 161 out of 185 countries(2009)

Enforcing Contracts: 111 out of 185 countries

Registering Property: 122 out of 185 countries

Getting credit: 129 out of 185 countries

Protecting investors: 128 out of 185 countries

Trading across border: 53 out of 185 countries

Paying Taxes: 143 out of 185 countries

Dealing with Construction Permits: 100 out of 185 countries

Getting Electricity: 57 out of 185 countries

Resolving Insolvency: 165 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
65

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 107 Score: 57.1 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+8
Total area 300,000 km2 (2006)
Capital Manila (2009)
Currency Philippine pesos (PHP) (2009)
Government type republic (2009)
Languages Filipino (official; based on Tagalog) and English (official); eight major dialects - Tagalog, Cebuano, Ilocano, Hiligaynon or Ilonggo, Bicol, Waray, Pampango, and Pangasinan
Religions Roman Catholic 80.9%, Muslim 5%, Evangelical 2.8%, Iglesia ni Kristo 2.3%, Aglipayan 2%, other Christian 4.5%, other 1.8%, unspecified 0.6%, none 0.1% (2000 census)
Total population
1980 1990 2000 2012* 2017**
48.32 million 61.5 million 76.95 million 97.74 million 107.87 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
30.3% 37.5% 58.5% 48.9%
Population median age 22 years (2010)
Population growth rate 1.7% (2011)
Life expectancy 68 years (2010)
Adult literacy 95% (2005/2010)
% of population living on less than $2 a day 45.04% (2011)
Inequality of wealth distribution (Gini index)

42.98 (2009)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:3
Civil Liberties:3 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

99.14% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 29% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Manila: 134th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

0.7475 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS BDO (National, 2013)
2012:
  • COUNTRY WINNERS BDO Unibank (Global, 2012)
2011:
  • COUNTRY WINNERS Banco de Oro Unibank (BDO) (Central and Eastern Europe, 2011)
2010:
  • COUNTRY WINNERS Bank of the Philippine Islands (BPI) (Central and Eastern Europe, 2010)
2009:
  • COUNTRY WINNERS Bank of the Philippine Islands (Central and Eastern Europe, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Central and Eastern Europe, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (Central and Eastern Europe, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks BPI (Central and Eastern Europe, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Central and Eastern Europe, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (Central and Eastern Europe, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Central and Eastern Europe, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (National, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Metrobank (Global, 2012)
2011:
  • COUNTRY WINNERS Bank of the Philippine Islands (Central and Eastern Europe, 2011)
2010:
  • COUNTRY WINNERS Banco de Oro (Central and Eastern Europe, 2010)
2009:
  • COUNTRY WINNERS Bank of the Philippine Islands (Central and Eastern Europe, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS HSBC (Central and Eastern Europe, 2012)
2011:
  • COUNTRY WINNERS HSBC (Global, 2011)
2010:
  • COUNTRY WINNERS HSBC (Central and Eastern Europe, 2010)
2009:
  • COUNTRY WINNERS HSBC (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • COUNTRY WINNERS BDO Capital & Investment Corp (National, 2013)

CENTRAL BANKER REPORT CARD

2012:
  • Grade: A (Central and Eastern Europe, 2012)
2011:
2010:
  • Grade: B (Central and Eastern Europe, 2010)
2009:
  • Grade: B (Central and Eastern Europe, 2009)

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Banco de Oro Unibank (National, 2010)
  • OVERALL BIGGEST Metropolitan Bank & Trust (National, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS HSBC (Central and Eastern Europe, 2013)
2012:
  • COUNTRY WINNERS ING (Global, 2012)
2011:
  • COUNTRY WINNERS Banco de Oro (Central and Eastern Europe, 2011)
  • COUNTRY WINNERS ING (Central and Eastern Europe, 2011)
2010:
  • COUNTRY WINNERS Bank of the Philippine Islands (BPI) (Central and Eastern Europe, 2010)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE