Facts and Figures: Economy of the Philippines

Economy of the Philippines:

GDP (purchasing power parity):
$351.4 billion (2010 est.) country rank: 34
$327.4 billion (2009 est.)
$323.9 billion (2008 est.)

GDP (official exchange rate):

$188.7 billion (2010 est.)

GDP - real growth rate:
7.3% (2010 est.) country rank: 31
1.1% (2009 est.)
3.7% (2008 est.)

GDP - per capita (PPP):

$3,500 (2010 est.) country rank: 162
$3,300 (2009 est.)
$3,400 (2008 est.)

GDP - composition by sector:

agriculture: 13.9%
industry: 31.3%
services: 54.8% (2010 est.)

Labor force:

38.9 million (2010 est.) country rank: 15

Labor force - by occupation:

agriculture: 33%
industry: 15%
services: 52% (2010 est.)

Unemployment rate:

7.3% (2010 est.) country rank: 76
7.5% (2009 est.)

Population below poverty line:

32.9% (2006 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) country rank: 36
46.6 (2003)

Investment (gross fixed):

15.7% of GDP (2010 est.) country rank: 131

Budget:

revenues: $26.84 billion
expenditures: $33.75 billion (2010 est.)

Taxes and other revenues:

14.2% of GDP (2010 est.) country rank: 190

Budget surplus (+) or deficit (-):

-3.7% of GDP (2010 est.) country rank: 112

Public debt:

55.4% of GDP (2010 est.) country rank: 44
57.3% of GDP (2009 est.)

Inflation rate (consumer prices):

3.8% (2010 est.) country rank: 125
3.2% (2009 est.)

Central bank discount rate:

4% (31 December 2010) country rank: 105
3.5% (31 December 2009)

Commercial bank prime lending rate:

7.7% (31 December 2010 est.) country rank: 120
8.566% (31 December 2009 est.)

Stock of narrow money:

$29.08 billion (31 December 2010 est.) country rank: 58
$24.86 billion (31 December 2009 est.)

Stock of broad money:

$97.35 billion (31 December 2010 est.) country rank: 52
$83.3 billion (31 December 2009 est.)

Stock of domestic credit:

$98.22 billion (31 December 2010 est.) country rank: 52
$85.54 billion (31 December 2009 est.)

Market value of publicly traded shares:

$202.3 billion (31 December 2010) country rank: 33
$130.5 billion (31 December 2009)
$85.63 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:

12.1% (2010 est.) country rank: 17

Electricity - production:

61.93 billion kWh (2009 est.) country rank: 42

Electricity - consumption:

54.4 billion kWh (2009 est.) country rank: 43

Electricity - exports:
0 kWh (2009 est.)

Electricity - imports:

0 kWh (2009 est.)

Oil - production:

9,671 bbl/day (July 2010 est.) country rank: 86

Oil - consumption:

307,200 bbl/day (September 2010 est.) country rank: 42

Oil - exports:

28,900 bbl/day (September 2010 est.) country rank: 86

Oil - imports:

338,400 bbl/day (September 2010 est.) country rank: 30

Oil - proved reserves:

168 million bbl (1 January 2010 est.) country rank: 64

Natural gas - production:

2.94 billion cu m (2008 est.) country rank: 55

Natural gas - consumption:

2.94 billion cu m (2008 est.) country rank: 75

Natural gas - exports:

0 cu m (2008 est.) country rank: 163

Natural gas - imports:

0 cu m (2008 est.) country rank: 110

Natural gas - proved reserves:

108.7 billion cu m (1 January 2011 est.) country rank: 52

Current account balance:

$9.51 billion (2010 est.) country rank: 26
$8.788 billion (2009 est.)

Exports:

$50.72 billion (2010 est.) country rank: 54
$37.6 billion (2009 est.)

Exports - commodities:

semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits

Exports - partners:
US 17.7%, Japan 16.3%, Netherlands 9.5%, Hong Kong 8.4%, China 7.6%, Singapore 6.7%, Germany 6.6%, South Korea 4.7% (2009)

Imports:
$61.07 billion (2010 est.) country rank: 42
$46.39 billion (2009 est.)

Imports - commodities:

electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic

Imports - partners:

Japan 12.6%, US 12%, China 8.9%, Singapore 8.6%, South Korea 6.9%, Thailand 5.7%, Indonesia 4.2% (2009)

Reserves of foreign exchange and gold:

$62.37 billion (31 December 2010 est.) country rank: 28
$44.24 billion (31 December 2009 est.)

Debt - external:

$63.75 billion (31 December 2010 est.) country rank: 49
$63.1 billion (31 December 2009 est.)

Stock of direct foreign investment - at home:

$24.44 billion (31 December 2010 est.) country rank: 64
$22.44 billion (31 December 2009 est.)

Stock of direct foreign investment - abroad:

$6.591 billion (31 December 2010 est.) country rank: 56
$6.191 billion (31 December 2009 est.)

Exchange rates:

Philippine pesos (PHP) per US dollar -
45.11 (2010)
47.68 (2009)
44.439 (2008)
46.148 (2007)
51.246 (2006)

Source: Central Intelligence Agency