Philippines GDP (Gross Domestic Product)

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Philippines country overview

Before we start discussing the Philippines GDP, First we discuss the Philippines country overview. The Philippines is officially called the Republic of the Philippines. This country is located in Southeast Asia.

Philippines GDP
Philippines GDP

The Philippines is consist of an approx. 7,600 Islands. Its capital city name is Manila. Its largest city name is Quezon City. Its official languages are Filipino and English. It has also 19 regional and recognized languages.

When we talk about its ethnic groups, its ethnic groups are 33% Visayan, 24% Tagalog, 8.5% Ilocano, 7% Bicolano, and 27% others. Of religions, 89% are Christianity, 6% Islam, and 5% others. When we talk about its government system, its government system is the Unitary presidential constitutional republic.

The Philippines president’s name is Rodrigo Duterte. Its voice president’s name is Leni Robredo. Its senate president’s name is Tito Sotto. Its house speaker’s name is Lord Allan Velasco. Its Chief justice name is Alexander Gesmundo. Its legislature name is congress.

Its legislature has two houses, the Upper house, and the Lower house. Its Upper house is called Senate and its Lower house is called the House of Representatives. Philippine’s total area is 300,000 km2.

Its area rank is 72nd in the world. Its total population is 109,400,340 in the year 2020. Its population density is 335 / km2. Its population density rank is 47th in the world.

Philippines Economy overview

The Philippines currency name is the Philippine peso. The Philippines is generally called a Developed or Emerging country with a Lower-middle income economy. The inflation rate in the Philippines is 4.5% in the year 2021.

When we talk about poverty in the Philippines, 16.7% of its population live below the poverty line in the year 2018. In human development, its HDI rate is 0.718 in the year 2019. This HDI rate is generally considered high in the world.

Its HDI rank is 107th in the world. The Philippines’ total Labour force is 46 million in the year 2020. When we talk about its Labour force by occupation, so services is 58%, agriculture is 23%, and industry is 19% in the year 2019.

The unemployment rate in the Philippines is 15% in the year 2021. Its gross external debt is $72 billion in the year 2017. Its total Foreign reserves are $104 billion in the year 2021.

Philippines GDP

The Philippines’ total GDP is $403 billion (nominal) and $1 trillion (PPP) in the year 2021. Its GDP rank is 34th (nominal) and 27th (PPP) in the year 2021. Its GDP growth rate is 4.4% in the year 2021.

Its GDP per capita is $3,600 (nominal) and $9,200 (PPP) in the year 2021. Its GDP per capita rank is 114th (nominal) and 113th (PPP) in the year 2019. When we talk about its GDP by sector, so agriculture is 7.5%, industry 35%, and services are 59% in the year 2018.

Exports

Its total exports are $86 billion in the year 2019. Its main export goods are semiconductors, machinery, wood, chemicals, food products, garments, seafood, fruits, etc. its main export partners are Japan, the United States, China, Hong Kong, Germany, and others.

Imports

Philippine’s total imports are $181 billion in the year 2019. Its main import goods are electronics, minerals, fuels, machinery, iron, steel, textile, chemicals, and others. Its main import partners are China, the United States, Japan, Indonesia, and others.

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