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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 .
The Philippine economy is the world's 34th largest, with an estimated 2023 nominal gross domestic product of US$435.7 billion. [13] As a newly industrialized country, [375] [376] the Philippine economy has been transitioning from an agricultural base to one with more emphasis on services and manufacturing.
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database (October 2024 edition) and/or other sources. [1] For older GDP trends, see List of regions by past GDP (PPP).
Several attempts to enact constitutional reform have taken place in the Philippines in 2024. This originated with President Bongbong Marcos and his allies' efforts. [1] [2] [3] The political dispute has been characterized by the conflict between the upper and lower houses of the Congress of the Philippines.
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, October 2024 Edition. [1] The figures are given or expressed in Millions of International Dollars at current prices.
This is a list of regions and highly urbanized cities of the Philippines by GDP and GDP per capita according to the data by the Philippine Statistics Authority. [ 1 ] [ 2 ] Data for 2023 estimates (international US$ using 2023 PPP conversion factor from the International Monetary Fund ).
Media in category "Economy of the Philippines" The following 2 files are in this category, out of 2 total. Philippines foreign relations.PNG 1,425 × 625; 49 KB
Number of Internet Users: ranked 34 (2009) [25] Average Internet connection speed: ranked 49 out of 55 (2014) Number of Internet hosts: ranked 52 out of 233 (2012) World Intellectual Property Organization: Global Innovation Index 2024, ranked 53 out of 133 countries [26]