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 74.3 billion (2015)
International Monetary Fund (IMF), data retrieved January 2017
Gross Domestic Product - GDP
USD 348.6 billion (2017, estimate)
GDP (Purchasing Power Parity)
Intl$ 874.0 billion (2017, estimate)
Real GDP growth
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| 5.2% | 6.6% | 4.2% | 1.2% | 7.6% | 3.7% | 6.7% |
| 2013 | 2014 | 2015 | 2016* | 2017* | ||
| 7.1% | 6.2% | 5.9% | 6.4% | 6.7% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2017* |
| 0.71% | 0.61% | 0.54% | 0.59% | 0.7% |
*Estimate
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GDP - composition by sector
- agriculture: 9.7%
- industry: 30.5%
- services: 59.8%
(2016 estimate)
Inflation
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 2.9% | 4.2% | 1.4% | 2.0% | 3.4% |
*Estimate
Unemployment rate
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 7.1% | 6.8% | 6.3% | 5.9% | 5.7% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 39.3% | 36.4% | 34.8% | 33.4% | 32.4% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 0.2% | 0.9% | 0.2% | -0.4% | -1.5% |
*Estimate
Government bond ratings
Standard & Poor's: BBB
Moody's: Baa2
Standard & Poor's / Moody's (Updated as of January 24th 2017)
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Market value of publicly traded shares
| 2013 | 2014 | 2015 |
| USD 217.3 billion | USD 261.8 billion | USD 238.8 billion |
Largest companies
SM Investments, JG Summit Holdings, Top Frontier Investment Holdings, Ayala Corporation, BPI, Metropolitan Bank & Trust, Manila Electric, PLDT, Aboitiz Equity Ventures.
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Current account balance by percentage of GDP
1.4% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
28.2% (2015)
Shares in world total merchandising export
0.4% (2015)
Shares in world total commercial services export
0.6% (2015)
Export commodities
Semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, 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 21.1%, US 15%, China 10.9%, Hong Kong 10.6%, Singapore 6.2%, Germany 4.5%, South Korea 4.3% (2015)
Imports - major partners
China 16.2%, US 10.8%, Japan 9.6%, Singapore 7%, South Korea 6.5%, Thailand 6.4%, Malaysia 4.8%, Indonesia 4.4% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 2,430 million | USD 6,813 million | USD 5,234 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 3,647 million | USD 6,754 million | USD 5,602 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| USD 682.1 million | USD 71.4 million | USD 3210.7 million | USD 1478.8 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: 99 out of 190 countries (2017)
Subcategories:
Starting a business: 171 out of 190 countries
Enforcing Contracts: 136 out of 190 countries
Registering Property: 112 out of 190 countries
Getting Credit: 118 out of 190 countries
Protecting Minority Investors: 137 out of 190 countries
Trading Across Borders: 95 out of 190 countries
Paying Taxes: 115 out of 190 countries
Dealing with Construction Permits: 85 out of 190 countries
Getting Electricity: 22 out of 190 countries
Resolving Insolvency: 56 out of 190 countries
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Global competitiveness ranking
57 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 70 / Score: 63.08 (Moderately free) (2016)
(100=totally free 0=totally repressed)
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Languages
Filipino (official; based on Tagalog) and English (official); eight major dialects - Tagalog, Cebuano, Ilocano, Hiligaynon or Ilonggo, Bicol, Waray, Pampango, and Pangasinan
Religions
Catholic 82.9% (Roman Catholic 80.9%, Aglipayan 2%), Muslim 5%, Evangelical 2.8%, Iglesia ni Kristo 2.3%, other Christian 4.5%, other 1.8%, unspecified 0.6%, none 0.1% (2000 census)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 60.94 million | 76.79 million | 92.6 million | 104.195 million | 115.04 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 30% | 38% | 48% | 44% |
Literacy
Total population: 96.3%
Male: 95.8%
Female: 96.8% (2015 est.)
(age 15 and over can read and write)
Inequality of wealth distribution (Gini index)
43.0 (2012)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Political Rights: 3
Civil Liberties: 3 (2017)
(1 represents the most free, 7 the least free rating)
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Total telephone subscribers as % of population
Fixed 3.17% Mobile 115.75% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)