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The Philippines is a newly industrialised country, which only recently made the transition from an agricultural-based economy towards one based on services and manufacturing. It has a dynamic economy, highly dependent on international trade developments and capital flows.
Top 10 Subsectors with the Most New Jobs The Philippine economy is projected to contract in 2020. Business sentiment weakened during the first quarter of 2020. Actual and projected $3.2-a-day poverty rates. Strengthening social assistance delivery through digital payments. Digital adoption index and sub-indices relative to world average
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June 2021 Navigating a Challenging Recovery. Weighed down by the COVID-19 pandemic, the Philippine economy is forecast to grow at 4.7 percent this year before accelerating to 5.9 percent in 2022 and 6.0 percent in 2023. Local governments have played a crucial role at the front lines of the COVID crisis.
The Philippine economy grew from 6.9 percent year-on-year in 2016 to 6.7 percent year-on-year in 2017. Growth was anchored in strong exports, while investment growth significantly slowed and consumption growth moderated. The Philippines’ annual exports rose sharply in 2017 and became the main engine of economic growth, while imports continued ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. 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 .
Despite gloomy global trade forecasts, the Philippines’ strong macroeconomic fundamentals, competitive geographical and labour force advantages, and rising domestic consumption bode well for future trade and investment.
A pillar of one of Asia’s rising economies, the Philippine industrial sector posted another strong performance in 2017, growing by 7.6% despite recent geopolitical turbulence related to the 2016 election.
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