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Philippines

Philippines Economy Stats

Overview:

Philippine GDP grew nearly 7% in 2010. The economy weathered the 2008-09 global recession better than its regional peers due to minimal exposure to securities issued by troubled global financial institutions; lower dependence on exports; relatively resilient domestic consumption, supported by large remittances from four-to five-million overseas Filipino workers; and a growing business process outsourcing industry. Economic growth in the Philippines has averaged 4.5% per year since 2001, when former President MACAPAGAL-ARROYO took office. Despite this growth, poverty worsened during the term of MACAPAGAL-ARROYO, because of a high population growth rate and inequitable distribution of income. MACAPAGAL-ARROYO averted a fiscal crisis by pushing for new revenue measures and, until recently, tightening expenditures to address the government's yawning budget deficit and to reduce high debt and debt service ratios. But the government abandoned its 2008 balanced-budget goal in order to help the economy weather the global financial and economic storm. The economy under AQUINO faces budget shortfalls in the near term, but has had little difficulty issuing debt both locally and internationally to finance the deficits. AQUINO's first budget emphasizes education and other social spending programs, relying on the private sector to finance important infrastructure projects. Weak tax collection in recent years limits the government's ability to address major challenges.

Definitions

  • Debt > External: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services.
  • Debt > External per capita: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services. Figures expressed per capita for the same year.
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Agriculture: The gross domestic product (GDP) or value of all final goods produced by the agricultural sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Composition by sector > Services: The gross domestic product (GDP) or value of all final services produced within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Official exchange rate: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • GINI index: Gini index measures the extent to which the distribution of income (or, in some cases, consumption expenditure) among individuals or households within an economy deviates from a perfectly equal distribution. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Human Development Index: The human development index values in this table were calculated using a consistent methodology and consistent data series. They are not strictly comparable with those in earlier Human Development Reports.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Tourist arrivals: International inbound tourists (overnight visitors) are the number of tourists who travel to a country other than that in which they have their usual residence, but outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the country visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across countries. In some cases data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some countries number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some countries include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across countries. The data on inbound tourists refer to the number of arrivals, not to the number of people traveling. Thus a person who makes several trips to a country during a given period is counted each time as a new arrival."
STAT AMOUNT DATE RANK HISTORY
Debt > External $74.88 billion 2012 53th out of 172
Debt > External per capita $695.13 2007 80th out of 130
GDP $250.18 billion 2012 39th out of 177
GDP > Composition by sector > Agriculture 12.4% 2012 79th out of 218
GDP > Composition by sector > Industry 31.3% 2012 69th out of 217
GDP > Composition by sector > Services 56.4% 2012 108th out of 179
GDP > Official exchange rate $246.8 billion 2012 42nd out of 191
GDP > Purchasing power parity $419.6 billion 2012 31st out of 190
GDP per capita $2,587.02 2012 120th out of 177
GINI index 44.53 2003 13th out of 34
Gross National Income $80.84 billion 2001 36th out of 158
Human Development Index 0.758 2006 83th out of 177
Population below poverty line 26.5% 2009 18th out of 36
Public debt 51.5% of GDP 2012 62nd out of 149
Tourist arrivals 3.14 million 2008 48th out of 145

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Development Indicators database; Human Development Report 2006, United Nations Development Programme; CIA World Factbooks 18 December 2003 to 28 March 2011; World Tourism Organisation, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.

Citation

"Philippines Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Philippines/Economy

NationMaster

0

rhys Bongalos(According to NSO)
If your total family income in 1 month is less than P15,000($300)
you are poor

ACCORDING to POPULATION PERCENTAGE DISTRIBUTION

35% Below poverty line : annual income per person is :$700- $1500

20% Poverty line : annual income is :$2,000 - $4,000

20% Middle Lower level: annual income per person is :$5,000-$10,000

10% Middle Upper level: annual income per person is :$10,000-$20,000

5% Upper class : annual income per person is :$20,000+

10% Rich : annual income $40,000++

I would say i have to be at least at the Poverty line
Just enough to have internet access at irregular periods
since Internet access in Philippines of 100kbps can only cost
$0.50 / hr to $1/hr in Manila

The Below Poverty line earns $2-$3/day
The Poverty line level earns around $5+(2)/day
Then Middle Lower around $10+(5)/day
Middle Upper $20+(5)/day

Date Range : years 2009-2011

Posted on 03 Nov 2011

nico1011

nico1011

0

May I know the steps taken by the govement in Philippine in order to building and sustaining solid financial markets.

Posted on 31 Jul 2009

Nishika

Nishika

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