US Investors' Unease Clouds Outlook For Manila
With Trump at the helm in the US, Philippine president Rodrigo Duterte's anti-American rhetoric may backfire.
The Philippines GDP and Economic Data
Country Report 2017 - Includes The Philippines real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Philippines economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of The Philippines best banks and safest banks are also available.
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Central bank
Central Bank of the Philippines (Bangko Sentral ng Pilipinas)
International Reserves
USD 79.2 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 330.8 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 952.6 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 6.6% | 4.2% | 1.1% | 7.6% | 3.7% | 6.7% | 7.1% |
| 2014 | 2015 | 2016 | 2017 | 2018* | ||
| 6.1% | 6.1% | 6.9% | 6.7% | 6.2% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.71% | 0.61% | 0.54% | 0.59% | 0.73% |
*Estimate
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GDP - composition by sector
- agriculture: 9.3%
- industry: 30.7%
- services: 50%
(2018 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 0.7% | 1.3% | 2.9% | 5.2% | 2.5% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 6.3% | 5.5% | 5.7% | 5.3% | 5.2% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 41.5% | 39% | 39.9% | 38.9% | 39.3% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 0.6% | -0.4% | -0.4% | -1.6% | -1.1% |
*Estimate
Government bond ratings
Standard & Poor's: BBB+
Moody's: Baa2
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 239.7 billion | USD 290.4 billion | USD 258.2 billion |
Largest companies
BDO Unibank, SM Investments, Top Frontier Investment Holdings, Ayala, Metropolitan Bank & Trust, JG Summit Holdings
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Current account balance by percentage of GDP
-2.6 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
31.7% (2018)
Shares in world total merchandising export
0.35% (2018)
Shares in world total commercial services export
0.65% (2018)
Export commodities
Semiconductors and electronic products, machinery and transport equipment, wood manufactures, chemicals, processed food and beverages, garments, coconut oil, copper concentrates, seafood, bananas/fruits
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Import commodities
Electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic
Exports - major partners
Japan 16.4%, US 14.6%, Hong Kong 13.7%, China 11%, Singapore 6.1%, Thailand 4.3%, Germany 4.1%, South Korea 4% (2017)
Imports - major partners
China 18.1%, Japan 11.4%, South Korea 8.8%, US 7.4%, Thailand 7.1%, Indonesia 6.7%, Singapore 5.9% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 6,915 million | USD 8,704 million |
USD 6,456 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 1,032 million | USD 1,752 million | USD 602 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 1,485 million | USD 415 million | USD 348 million | USD 1,201 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
95 out of 190 countries
Subcategories:
Starting a Business: 171 out of 190 countries
Dealing with Construction Permits: 85 out of 190 countries
Getting Electricity: 32 out of 190 countries
Registering Property: 120 out of 190 countries
Getting Credit: 132 out of 190 countries
Protecting Minority Investors: 72 out of 190 countries
Paying Taxes: 95 out of 190 countries
Trading across Borders: 113 out of 190 countries
Enforcing Contracts: 152 out of 190 countries
Resolving Insolvency: 65 out of 190 countries
Source
Global competitiveness ranking
64 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 70 / Score: 63.8 (Moderately free)
(100=totally free 0=totally repressed)
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Languages
unspecified 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 80.6%, Protestant 8.2% (includes Philippine Council of Evangelical Churches 2.7%, National Council of Churches in the Philippines 1.2%, other Protestant 4.3%), Muslim 5.6%, tribal religions .2%, other 1.9%, none .1% (2010 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 60.94 million | 77.02 million | 92.6 million | 101.56 million | 110.04 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 30.3% | 37.5% | 46.1% | 46.9% |
Literacy
Total population: 96.3%
Male: 95.8%
Female: 96.8%
Definition: age 15 and over can read and write (2015 est.)
% of population living on less than $3.10 a day
26% (last available estimate, 2015)
Inequality of wealth distribution (Gini index)
44.4 (last available estimate, 2015)
Source
Freedom House rating
Partly Free
Political Rights: 3
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 4%
Mobile: 110.1%
(2017)
(fixed-telephone subscribers and mobile-cellular subscribers)