The Philippines GDP

By: EconomyWatch   Date: 13 October 2010

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On Philippines GDP
As per statistics of financial year 2007, Philippines GDP was around $300.1 billion with respect to purchasing power parity. In terms of official exchange rate, GDP of Philippines was about $144.1 billion. Real growth rate of PH GDP in that same fiscal was 7.3 percent. Per capita gross domestic product of Philippines in financial year 2007, with respect to purchasing power parity was about $3,200.

Composition of Philippines GDP
According to data of financial year 2007, 13.8 percent of Philippines gross domestic product came from agricultural sector and 31.7 percent was contributed by industrial sector. Services sector contributed 54.5 percent of Philippines' gross domestic product in fiscal 2007.

Status of Philippines GDP
Philippines is among leading economies in South East Asian region. Its gross domestic product has been growing at a steady rate and stands testimony to economic progress made by this country in recent years. In financial year 2007, gross domestic product of Philippines posted a real growth rate of 7.3 percent. That was highest ever growth achieved by Philippines in last decade and a year.

Status of Philippines GDP
Philippines is among leading economies in South East Asian region. Its gross domestic product has been growing at a steady rate and stands testimony to economic progress made by this country in recent years. In financial year 2007, gross domestic product of Philippines posted a real growth rate of 7.3 percent. That was highest ever growth achieved by Philippines in last decade and a year.

Fidel Ramos
Fidel Ramos was 12th president of Philippines from 1992 to 1998. He had implemented a number of fiscal measures during his term that benefited Philippine economy a lot. It was in that period that GDP of Philippines reached one of its highest points.

Growth of Philippines GDP
Gross domestic product of Philippines has been growing pretty well in last couple of fiscals with few minor fluctuations. On January 31, 2008 gross domestic product of Philippines reached 7.3 percent mark. It was among quickest growth rates in last three decades.

Recent condition of Philippines GDP
Philippines has been affected by ongoing global financial crisis. Growth of its gross domestic product has been hampered. In this context, rising prices of oil have also played an important role. In third quarter of financial year 2008, rate of growth of Philippines GDP had come down to 4.6 percent from 7.1 percent, achieved in second quarter of that same financial year.

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