Economic Statistics - GDP, Inflation, Debt

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.

MORE RECENT 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)