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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
In the third quarter of 1981, the Philippine economy followed the course of the US economy into recession. [1] The Philippines’ debt rose to more than 200 percent of exports from 1978 to 1991. [1] More than half the value of the country’s exports went to debt service, rather than imports. [1]
The Philippine Statistics Authority (Filipino: Pangasiwaan ng Estadistika ng Pilipinas; PSA) is the central statistical authority of the Philippine government that collects, compiles, analyzes, and publishes statistical information on economic, social, demographic, political affairs, and general affairs of the people of the Philippines, as well as enforcing the civil registration functions in ...
The period from 1986 following the EDSA Revolution of 1986 to the present time saw the Philippine economy get back on track. Reforms aided the country towards robust growth, and crucial policies were conceptualized, developed, and enacted by the presidents and the advisers who supported them.
A comparative graph of Revenue and Tax Effort from 2001 to 2010 [3] A comparative graph of Tax and Non-Tax Revenue contribution from 2001 to 2010 [4]. The Philippine government generates revenues mainly through personal and income tax collection, but a small portion of non-tax revenue is also collected through fees and licenses, privatization proceeds and income from other government ...
The Philippine economy is the world's 34th largest, with an estimated 2023 nominal gross domestic product of US$435.7 billion. [13] As a newly industrialized country, [375] [376] the Philippine economy has been transitioning from an agricultural base to one with more emphasis on services and manufacturing.
A number of units of measurement were used in the Philippines to measure various quantities including mass, area, and capacity. The metric system has been compulsory in the country since 1860, during the late Spanish colonial period. [1] A mixture of Spanish units and indigenous units were used alongside American units in the 1900s.
This is a list of regions and highly urbanized cities of the Philippines by GDP and GDP per capita according to the data by the Philippine Statistics Authority. [ 1 ] [ 2 ] Data for 2023 estimates (international US$ using 2023 PPP conversion factor from the International Monetary Fund ).