26, Apr 2015, EDT. Welcome to the Philippines economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: Philippines › Change country
National or Regional Currency: Philippines Peso, PHP
Year of data: 2014 › Change year
Number of Indicators Listed: 38
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 107,668,231 (July 2014 est.)
Area: total: 300,000 sq km ; land: 298,170 sq km ; water: 1,830 sq km
Natural Resources: timber, petroleum, nickel, cobalt, silver, gold, salt, copper
Capital: name: Manila ; geographic coordinates: 14 36 N, 120 58 E ; time difference: UTC+8 (13 hours ahead of Washington, DC, during Standard Time)
The economy has weathered global economic and financial downturns better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a rapidly expanding business process outsourcing industry. The current account balance had recorded consecutive surpluses since 2003; international reserves are at record highs; the banking system is stable; and the stock market was Asia's second best-performer in 2012. Efforts to improve tax administration and expenditure management have helped ease the Philippines' tight fiscal situation and reduce high debt levels. The Philippines has received several credit rating upgrades on its sovereign debt, and has had little difficulty tapping domestic and international markets to finance its deficits. Economic growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration, but poverty worsened during her term. Growth has accelerated under the AQUINO government, but with limited progress thus far in bringing down unemployment, which hovers around 7%, and improving the quality of jobs. Underemployment is nearly 20% and more than 40% of the employed are estimated to be working in the informal sector. The AQUINO administration has been working to boost the budgets for education, health, cash transfers to the poor, and other social spending programs, and is relying on the private sector to help fund major infrastructure projects under its Public-Private Partnership program. Long term challenges include reforming governance and the judicial system, building infrastructure, improving regulatory predictability, and the ease of doing business, attracting higher levels of local and foreign investments. The Philippine Constitution and the other laws continue to restrict foreign ownership in important activities/sectors (such as land ownership and public utilities).
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GDP (Constant Prices, National Currency) for Philippines in year 2014 is PHP 7,187.26 Billion.
GDP (Current Prices, National Currency) for Philippines in year 2014 is PHP 12,746.17 Billion.
GDP (Current Prices, US Dollars) for Philippines in year 2014 is US$ 289.686 Billion.
GDP Deflator for Philippines in year 2014 is 177.344 (Index, Base Year as per country's accounts = 100).
GDP Per Capita (Current Prices, National Currency) for Philippines in year 2014 is PHP 128,187.16 .
GDP Per Capita (Current Prices, US Dollars) for Philippines in year 2014 is US$ 2,913.34 .
GDP (PPP), US Dollars for Philippines in year 2014 is US$ 694.615 Billion.
GDP Per Capita (PPP), US Dollars for Philippines in year 2014 is US$ 6,985.68 .
Investment (% of GDP) for Philippines in year 2014 is 19.136 %.
Inflation, Average Consumer Prices (Indexed to Year 2000) for Philippines in year 2014 is 139.927 (Index, Base Year 2000 = 100).
Inflation, End of Year (Indexed to Year 2000) for Philippines in year 2014 is 142.653 (Index, Base Year 2000 = 100).
Population for Philippines in year 2014 is 99.434 Million .
General government revenue (National Currency) for Philippines in year 2014 is PHP 2,404.54 Billions.
General government total expenditure (National Currency) for Philippines in year 2014 is PHP 2,447.92 Billions.
Total Government Net Lending/ Borrowing (National Currency) for Philippines in year 2014 is PHP -43.384 Billions.
General Government Structural Balance (National Currency) for Philippines in year 2014 is PHP -90.543 Billion.
Fiscal Year Gross Domestic Product, Current Prices for Philippines in year 2014 is PHP 12,746.17 Billions.
Current Account Balance (US Dollars) for Philippines in year 2014 is US$ 9.184 Billion.
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Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International