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The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
Location of the Philippines. The Philippines is a sovereign island country in Southeast Asia situated in the western Pacific Ocean. It is a founding member of the United Nations, World Trade Organization, Association of Southeast Asian Nations, the Asia-Pacific Economic Cooperation forum, and the East Asia Summit.
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 .
This list is based on the Forbes Global 2000, which ranks the world's 2,000 largest publicly traded companies.The Forbes list takes into account a multitude of factors, including the revenue, net profit, total assets and market value of each company; each factor is given a weighted rank in terms of importance when considering the overall ranking.
In 1984 and 1985 the Philippines saw the worst recession in its history: the economy contracted by 7.3% for two successive years. [1] Data from the Philippine Statistics Authority for 1985 showed that poverty incidence in families was at 44.2%—4.3 percentage points higher than in 1991 during the presidency of Corazon Aquino.
History of transportation in the Philippines (2 C, 1 P) Pages in category "Economic history of the Philippines" The following 23 pages are in this category, out of 23 total.
May 31 – The Philippines landed on Forbes' list of Rising Stars in Travel, one of seven countries cited to have potential to become major tourist destinations. [264] June 18 – The Roman Catholic Diocese of Maasin in Southern Leyte was acknowledged by the Vatican for being the first in the Catholic Church to switch to renewable energy. [265]
Unlike the other economies in the region, The Philippines was the only one of a mere handful of countries in the whole world to have recorded a positive economic growth in 2009 and averted the effects of economic recession. [20] However, it did not mean that the country experienced no effect of the ongoing world financial crisis.