Gross Domestic Product (GDP): In 2004 the GDP of the Philippines was US$84.6 billion, or US$1,150 on a per capita basis. According to purchasing power parity (PPP), however, GDP in 2005 was estimated to be US$451.3 billion, or US$5,100 per capita. In 2004 the Philippines achieved real economic growth of 6 percent, up from 4.5 percent in 2003. However, with the population expanding by more than 2 percent annually—one of the highest rates in Asia—the actual improvement in living standards is modest.
NUMBERS ON THE PHILIPPINE ECONOMY
GDP (purchasing power parity): | $320.6 billion (2008 est.) $306.5 billion (2007) $285.9 billion (2006) note: data are in 2008 US dollars |
GDP (official exchange rate): | $168.6 billion (2008 est.) |
GDP – real growth rate: | 4.6% (2008 est.) 7.2% (2007 est.) 5.4% (2006 est.) |
GDP – per capita (PPP): | $3,300 (2008 est.) $3,300 (2007 est.) $3,100 (2006 est.) note: data are in 2008 US dollars |
GDP – composition by sector: | agriculture: 14.7% industry: 31.6% services: 53.7% (2008 est.) |
Labor force: | 36.81 million (2008 est.) |
Labor force – by occupation: | agriculture: 35% industry: 15% services: 50% (2008 est.) |
Unemployment rate: | 7.4% (2008 est.) |
Population below poverty line: | 30% (2003 est.) |
Household income or consumption by percentage share: | lowest 10%: 2.4% highest 10%: 31.2% (2006) |
Distribution of family income – Gini index: | 45.8 (2006) |
Investment (gross fixed): | 16.8% of GDP (2008 est.) |
Budget: | revenues: $26.75 billion expenditures: $28.2 billion (2008 est.) |
Fiscal year: | calendar year |
Public debt: | 56.5% of GDP (2008 est.) |
Inflation rate (consumer prices): | 9.3% (2008 est.) |
Central bank discount rate: | 6% (31 December 2008) |
Commercial bank prime lending rate: | 8.69% (31 December 2007) |
Stock of money: | $22.53 billion (31 December 2008) |
Stock of quasi money: | $65.85 billion (31 December 2007) |
Stock of domestic credit: | $65.66 billion (31 December 2007) |
Market value of publicly traded shares: | $85.6 billion (31 December 2008) |
Agriculture – products: | sugarcane, coconuts, rice, corn, bananas, cassavas, pineapples, mangoes; pork, eggs, beef; fish |
Industries: | electronics assembly, garments, footwear, pharmaceuticals, chemicals, wood products, food processing, petroleum refining, fishing |
Industrial production growth rate: | 5% (2008 est.) |
Electricity – production: | 56.51 billion kWh (2007 est.) |
Electricity – consumption: | 47.04 billion kWh (2006 est.) |
Electricity – exports: | 0 kWh (2007) |
Electricity – imports: | 0 kWh (2007) |
Electricity – production by source: | fossil fuel: 55.6% hydro: 17.5% nuclear: 0% other: 26.9% (2001) |
Oil – production: | 23,930 bbl/day (2007 est.) |
Oil – consumption: | 340,100 bbl/day (2006 est.) |
Oil – exports: | 41,160 bbl/day (2005) |
Oil – imports: | 355,800 bbl/day (2005) |
Oil – proved reserves: | 138.5 million bbl (1 January 2008 est.) |
Natural gas – production: | 2.2 billion cu m (2006 est.) |
Natural gas – consumption: | 2.2 billion cu m (2006 est.) |
Natural gas – exports: | 0 cu m (2007 est.) |
Natural gas – imports: | 0 cu m (2007 est.) |
Natural gas – proved reserves: | 98.54 billion cu m (1 January 2008 est.) |
Current account balance: | $2.687 billion (2008 est.) |
Exports: | $49 billion f.o.b. (2008 est.) |
Exports – commodities: | semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits |
Exports – partners: | US 17%, Japan 14.5%, Hong Kong 11.5%, China 11.4%, Netherlands 8.2%, Singapore 6.2%, Malaysia 5%, Germany 4.3% (2007) |
Imports: | $58 billion f.o.b. (2008 est.) |
Imports – commodities: | electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic |
Imports – partners: | US 14.1%, Japan 12.3%, Singapore 11.2%, Taiwan 7.3%, China 7.2%, Saudi Arabia 6.4%, South Korea 5.9%, Malaysia 4.1%, Thailand 4.1% (2007) |
Reserves of foreign exchange and gold: | $36.15 billion (31 December 2008 est.) |
Debt – external: | $53.48 billion (31 September 2008 est.) |
Stock of direct foreign investment – at home: | $20.78 billion (2008 est.) |
Stock of direct foreign investment – abroad: | $5.564 billion (2008 est.) |
Currency (code): | Philippine peso (PHP) |
Currency code: | PHP |
Exchange rates: | Philippine pesos (PHP) per US dollar – 44.439 (2008 est.), 46.148 (2007), 51.246 (2006), 55.086 (2005), 56.04 (2004) |
IMPLASYON / INPLASYON (INFLATION): pagtaas sa pangkalahatang antas ng mga presyo ng mga kalakal(goods) at mga serbisyo sa isang ekonomiya sa loob ng periodo ng panahon
