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Economy of the Philippines: Difference between revisions

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* (2023)<ref name="SEFIPH">{{Cite web |title=PHILIPPINES: SELECTED ECONOMIC AND FINANCIAL INDICATORS |url=https://www.bsp.gov.ph/statistics/keystat/sefi.pdf |url-status=live |archive-url=https://web.archive.org/web/20240328093235/https://www.bsp.gov.ph/statistics/keystat/sefi.pdf |archive-date=March 28, 2024 |website=[[Bangko Sentral ng Pilipinas]]}}</ref>}}
| components = {{plainlist|
* Household consumption: 73.1%
* Government consumption: 14.2%
* Gross capital formation: 23.1%
* Exports of goods and services: 27.4%
* Less: Imports of goods and services: -39.2%
* Other source: 10.6%
* (2023){{r|SEFIPH}}}}
| average gross salary = [[List of Asian countries by average wage|₱18,423 / US$338]] monthly (2022)<ref>{{Cite press release |last=Mapa |first=Claire Dennis S. |title=Highlights of the 2022 Occupational Wages Survey (OWS) |url=https://psa.gov.ph/content/highlights-2022-occupational-wages-survey-ows |archive-url=https://web.archive.org/web/20230925082029/https://psa.gov.ph/content/highlights-2022-occupational-wages-survey-ows |archive-date=September 25, 2023 |access-date=September 22, 2023 |publisher=[[Philippine Statistics Authority]] |url-status=live}}</ref>
| inflation = {{increaseNegativedecreasePositive}} 41.49% (JulySeptember 2024)<ref>{{Cite press release |last=Mapa |first=Claire Dennis S. |title=Summary Inflation Report Consumer Price Index (2018=100): JulySeptember 2024 |url=https://psa.gov.ph/content/summary-inflation-report-consumer-price-index-2018100-julyseptember-2024 |access-date=AugustOctober 64, 2024 |publisher=[[Philippine Statistics Authority]]}}</ref>
| poverty = {{plainlist|
* {{decreasePositive}} 15.5% (2023)<ref>{{Cite press release |last=Mapa |first=Claire Dennis S. |title=Percentage of Filipino Families Classified as Poor Declined to 10.9 percent in 2023 |url=https://psa.gov.ph/statistics/poverty |url-status=live |archive-url=https://web.archive.org/web/20240722043532/https://psa.gov.ph/statistics/poverty |archive-date=July 22, 2024 |website=[[Philippine Statistics Authority]]}}</ref>
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* −6.2% of GDP (2023){{r|SEFIPH}}
}}
| reserves = {{increase}} $105112.647707 billion (JulySeptember 2024)<ref name="BSP-SDDS">{{Cite web |title=Special Data Dissemination Standards, Economic and Financial Data for the Philippines |url=https://www.bsp.gov.ph/pages/Statistics/SpecialDataDisseminationStandards.aspx |access-date=July 23, 2022 |website=[[Bangko Sentral ng Pilipinas]]}}</ref><ref>{{Cite web |title=Gross International Reserves |url=https://www.bsp.gov.ph/Statistics/sdds/table12_data.aspx |access-date=January 1, 2023 |website=[[Bangko Sentral ng Pilipinas]]}}</ref>
| current account = {{plainlist|
* {{decreasePositive}} -$11.20 billion
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* Outlook: Stable
----
* [[Moody's]]:<ref>{{Cite news |datelast=SeptemberMoaje 11, 2022|first=Marita |title=Rating Action: Moody's upgradesaffirms PhilippinesPH’s to'BAA2' Baa2,investment-grade outlookcredit stablerating |url=https://www.moodyspna.comgov.ph/researcharticles/Moodys-affirms-the-Philippines-Baa2-ratings-outlook-stable--PR_468784#:~:text=Based%20on%20Moody's%20projection%20of,rise%20in%20debt%20since%202019.1231837 |access-date=SeptemberAugust 1223, 20222024 |website=[[Moody'sPhilippine InvestorsNews ServiceAgency]]}}</ref>
* Baa2
* Outlook: Stable
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1980-82: Slower economic growth due to mismanagement
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1983-86: Recession due to factors like corruption
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1987-90: Recovery from 1984 crisis
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1991-1992: Inflation and natural disasters (notably [[Mount Pinatubo eruption]]) caused slower growth
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1993-97: Fast growth
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1998: Minor recession due to the [[1997 Asian Financial Crisis]]
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1999: Recovery
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2002-2008: Post-[[EDSA II]] recovery
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2009: Effects of the [[Great Recession]]
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2010-2019: Philippines as a [[Tiger Economy]]
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2020: Coronavirus Outbreak
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2021-2023: Rebound
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A chart below outlines selected statistics showing trends in the gross domestic product of the Philippines using data taken from the [[International Monetary Fund]].<ref name=imf>[[International Monetary Fund]]. (April 2012). [http://www.imf.org/external/pubs/ft/weo/2012/01/weodata/weorept.aspx?sy=1980&ey=2017&ssm=1&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x=40&pr1.y=11&c=566&s=NGDP_R%2CNGDP_RPCH%2CNGDP%2CNGDPD%2CNGDP_D%2CNGDPRPC%2CNGDPPC%2CNGDPDPC%2CPPPGDP%2CPPPPC%2CPPPSH%2CPPPEX%2CNID_NGDP%2CNGSD_NGDP%2CPCPI%2CPCPIPCH%2CPCPIE%2CPCPIEPCH%2CTM_RPCH%2CTMG_RPCH%2CTX_RPCH%2CTXG_RPCH%2CTXGO%2CTMGO%2CLUR%2CLP%2CGGR%2CGGR_NGDP%2CGGX%2CGGX_NGDP%2CGGXCNL%2CGGXCNL_NGDP%2CGGXONLB%2CGGXONLB_NGDP%2CGGXWDG%2CGGXWDG_NGDP%2CNGDP_FY%2CBCA%2CBCA_NGDPD&grp=0&a=#cs1 ''World Economic Outlook Data, By Country – Philippines: [selected annual data for 1980–2017<nowiki>]</nowiki>'']. Retrieved 2012-06-23 from the World Economic Outlook Database.</ref><ref name="imf2phus">{{Cite web |date=April 2010 |title=World Economic Outlook (WEO) Database April 2010 – Report for Selected Countries and Subjects – Philippines and United States |website=[[International Monetary Fund]] |url=http://www.imf.org/external/pubs/ft/weo/2010/01/weodata/weorept.aspx?pr.x=67&pr.y=9&sy=1980&ey=2015&ssm=1&scsm=1&ssd=1&sort=subject&ds=.&br=1&=566%2C111&=NGDP_R%2CNGDP_RPCH%2CNGDP%2CNGDPD%2CNGDP_D%2CNGDPRPC%2CNGDPPC%2CNGDPDPC%2CNGAP_NPGDP%2CPPPGDP%2CPPPPC%2CPPPSH%2CPPPEX%2CNID_NGDP%2CNGSD_NGDP%2CPCPI%2CPCPIPCH%2CPCPIE%2CPCPIEPCH%2CFLIBOR6%2CLUR%2CLE%2CLP%2CGGXCNL%2CGGXCNL_NGDP%2CGGSB%2CGGSB_NPGDP%2CGGXWDN%2CGGXWDN_NGDP%2CGGXWDG%2CGGXWDG_NGDP%2CNGDP_FY%2CBCA%2CBCA_NGDPD&grp=0&a=#sNGDP}}</ref>
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|-
| [[International Monetary Fund]]
| [[List of countries by past and projected GDP (PPP)| GDP (PPP)]]
| 2023
|style="text-align:center"|{{steady}}
Line 1,784:
|-
| [[International Monetary Fund]]
| [[List of countries by past and projected GDP (nominal)| GDP (nominal)]]
| 2023
|style="text-align:center"|{{increase}} 5
Line 1,915:
* '''Electricity – production:''' 106,115 GWh (2021)<ref>{{Cite report |title=2021 Power Statistics |url=https://www.doe.gov.ph/sites/default/files/pdf/energy_statistics/2021_power_statistics_01_summary.pdf |website=[[Department of Energy (Philippines)|Department of Energy]]}}</ref>
* '''Agriculture – products:''' [[abaca]], [[banana]]s, [[sugarcane]], [[coconut]]s, [[durian]], [[rice]], [[maize|corn]], [[cassava]]s, [[mango]]es; [[pork]], [[egg (food)|eggs]], [[beef]], [[pineapple]]s, [[fish]]<ref name="CIAfactbookPhilEcon">[https://www.cia.gov/the-world-factbook/countries/philippines/ CIA World Factbook, Philippines], Retrieved May 15, 2009.</ref>
* '''Exports – commodities/products:''' Semiconductors and electronic products, machinery, transport equipment, aerospace/parts, automotive/parts, garments, chemicals, copper, nickel, petroleum products, coconut oil, fruits<ref name="CIAfactbookPhilEcon" />
* '''Imports – commodities/products:''' electronic products, machinery, telecommunication and transport equipment, automotive, chemicals, petroleum, cereals, livestocks, cement and steel, fruits<ref name="CIAfactbookPhilEcon" />
* '''Manufacturing Growth:''' 5.9% (April 2024)<ref>{{Cite press release |title=Production Index and Net Sales Index (Monthly Integrated Survey of Selected Industries) April 2024 (2018=100) |url=https://psa.gov.ph/statistics/manufacturing/missi |access-date=June 7, 2024 |website=[[Philippine Statistics Authority]]}}</ref>
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* [[Emerging market]]s
* [[List of companies of the Philippines]]
* [[List of largest companies in the Philippines]]
* [[Newly industrialized country]]
* [[Tiger Cub Economies]]