ECON FACTBOOK

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Economy of Philippines

Population: 98 million in 2013¹

GDP: $272 billion in 2013²

GDP per capita: $2,765 nominal³ ($6,533 PPP⁴) in 2013

GDP growth rate: 7.2% in 2013⁵

Industries

GDP by Industry 2012⁶

Industry sector	Value added ($ billions) 2012	Percent of total
Other activities	68	30.3%
Manufacturing	47	21.1%
Wholesale, retail trade, restaurants and hotels	43	19.1%
Agriculture, hunting, forestry, fishing	29	12.7%
Transport, storage and communication	14	6.5%
Construction	12	5.4%
Mining and utilities	11	4.9%
Total value added	224	100%

Employment

Unemployment rate: 7.1% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Agriculture, forestry and fishing	11,759	31.0%
Wholesale trade, retail trade and repair of motor vehicles	7,069	18.6%
Manufacturing	3,150	8.3%
Transportation and storage	2,719	7.2%
Construction	2,364	6.2%
Other service	2,178	5.7%
Public administration and defence	1,951	5.1%
Accommodation and food service	1,598	4.2%
Education	1,220	3.2%
Administrative and support service	1,013	2.7%
Activities of households as employers	521	1.4%
Human health and social work	466	1.2%
Finance and insurance	447	1.2%
Arts, entertainment and recreation	346	0.9%
Information and communication	343	0.9%
Mining and quarrying	250	0.7%
Professional, scientific and technical	194	0.5%
Real estate	172	0.5%
Electricity, gas, steam and air conditioning	94	0.2%
Water supply, sewerage and waste management	60	0.2%
Extraterritorial organizations and bodies	4	0.0%
Total employment	37,917	100%

Corporations

Top 10 Corporations by Revenue 2013⁹

N/A

Households

Household Wealth: $480 billion (176% of GDP) in 2014¹⁰

Household Wealth per Adult: $8,351 in 2014¹⁰

Gini Coefficient: .430 in 2012¹¹

Government

Central Government

Central Government Revenue: $39 billion (14% of GDP) in 2013¹²

Central Government Expenditure: $44 billion (16% of GDP) in 2013¹²

Central Government Budget Balance: -$5 billion (-2% of GDP) in 2013¹²

Central Government Public Debt: $129 billion (48% of GDP) in Nov 2014* ¹³

Central Government 10 Year Bond Interest Rate: 4.11% on Jan 26, 2015¹⁴

* Public debt calculated using the exchange rate 44.15 PHP = 1 USD

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* ¹⁵

5%: $0-$10,000
10%: $10,001-$226
15%: $227-$1,585
20%: $1,586-$3,171
25%: $3,172-$5,662
30%: $5,663-$11,325
32%: $11,326+

Corporate Tax Rate: 30% in 2014¹⁶

* Individual thresholds calculated using the exchange rate 44.15 PHP = 1 USD

Monetary Policy

Money Supply (M0): $50 billion (18% of GDP) in Nov 2014* ¹⁷

Benchmark Interest Rate: Reverse Repo Rate = 4.0% on Jan 26, 2015¹⁸

Total Reserves: $83 billion (31% of GDP) in 2013¹⁹

Exchange Rate: 44.15 Philippine Pesos = 1 U.S. Dollar²⁰

Inflation: 3.0% in 2013²¹

* Money supply calculated using the exchange rate 44.15 PHP = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 2013²²

N/A (data not available at Relbanks.com)

International Accounts

Exports: $47 billion (17% of GDP) in 2013²³

Imports: $46 billion (17% of GDP) in 2013²³

Trade Balance: +$1 billion (0% of GDP) in 2013²³

Foreign Direct Investment Inflow: $4 billion (1% of GDP) in 2013²⁴

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $4 million (0.001% of GDP) in 2012²⁵

Foreign Aid Outflow: N/A

References