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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 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
Countries by real GDP growth rate in 2024 (IMF WEO database 2024) This article includes lists of countries and dependent territories sorted by their real gross domestic product growth rate; the rate of growth of the total value of all final goods and services produced within a state in a given year compared with the previous year.
GDP (Nominal) figures based on 2018 Philippine Constant Prices as published by the Philippine Statistics Office on their various public releases in 2023. GDP in PPP using 2018 Constant Prices not publicized. GDP in USD using 2023 Exchange Rates. % of GDP Regional not publicized for Central Visayas Cities.
While growth in the Philippines remains on track for recovery, the bounce back this year will likely be lower than previously expected at 4.7%, Kevin Chua, World Bank senior economist, told a ...
Real GDP can be used to calculate the GDP growth rate, which indicates how much a country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change. The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate.
GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita ...
Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.
By Nate Raymond (Reuters) -A U.S. appeals court has halted enforcement of an anti-money laundering law that requires corporate entities to disclose the identities of their real beneficial owners ...