Economy of the Philippines
Economy of Philippines
Currency
Philippine peso (PHP) = 100
centavos (English)
piso = 100 sentimo (Filipino)
Fiscal year
Calendar year
Trade
organisations
APEC, ASEAN, WTO
Statistics
GDP
$173.2bn (2008 est.)[1]
GDP growth
4.5% (2008 est.)[1]
GDP per capita $3,400 (2008 est.)[1]
GDP by sector
agriculture (13.8%), industry
(31.9%), services (54.3%)
(2008 est.)[1]
Inflation (CPI)
9.6% (2008 est.)[1]
Population
below poverty
line
36.8-40.6% (2007 est.)[2]
Gini index
45.8 (2006)[1]
Labour force
36.82 million (2008 est.)[1]
Labour force
by occupation
services (50%), agriculture
(35%), industry (15%) (As of
2007)[1]
Unemployment 7.4% (2008 est.)[1]
Main
industries
electronics assembly,
garments, footwear,
pharmaceuticals, chemicals,
wood products, food
processing, petroleum
refining, fishing[1]
External
Exports
$50.99 billion f.o.b. (2008
est.)[1]
Export goods
semiconductors and
electronic products,
transport equipment,
garments, copper products,
petroleum products, coconut
oil, fruits
Main export
partners
United States 17%, Japan
14.5%, Hong Kong 11.5%,
China 11.4%, Singapore
6.2%, Netherlands 8.2%,
Malaysia 5%, Germany 4.3%
(2007)[1]
Imports
$63.42 billion f.o.b. (2008
est.)[1]
Import goods
electronic products, mineral
fuels, machinery and
transport equipment, iron
and steel, textile fabrics,
grains, chemicals, plastic[1]
Main import
partners
Japan 12.3%, United States
14.1%, Singapore 11.2%,
Taiwan Republic of China
7.2%, Saudi Arabia 6.4%,
South Korea 5.9%, Malaysia
4.1%, Thailand 4.1%
(2008)[1]
Public finances
Public Debt
$65.23bn (37% of GDP (2008
est.)[1]
Revenues
$26.75bn (2008 est.)[1]
Expenses
$28.3bn (2008 est.)[1]
Economic aid
recipient. ODA, $561.7
million (2007)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US
dollars
The economy of the Philippines has a
mixed economic system, and one of the newly
industrialized emerging market economies of
the world. In 2007, it was ranked as the 37th
largest economy by the International Monet-
ary Fund accord