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Economy Stats: compare key data on Philippines & Wallis and Futuna

Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues > Per capita: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Exports > Commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP > Per capita: 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. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • 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.
  • Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • 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.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
  • 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. Per capita figures expressed per 1 population.
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Labor force: This entry contains the total labor force figure.
  • Currency: The national medium of exchange and its basic sub-unit.
  • GDP > Purchasing power parity > Per capita: 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. Per capita figures expressed per 1 population.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Labor force > By occupation > Agriculture: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
    Additional details:
    • Gibraltar: negligible (2013)
  • Labor force > By occupation > Services: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade > Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • GDP > CIA Factbook > Per capita: Per capita figures expressed per 1 population.
  • GDP > Per $ GDP: 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. Per $ GDP figures expressed per 1 $ gross domestic product.
  • Trade > Exports: The total US dollar amount of exports on an f.o.b. (free on board) basis.
  • Imports > Commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Budget > Expenditures > Per capita: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Labor force > By occupation > Industry: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
STAT Philippines Wallis and Futuna HISTORY
Budget > Expenditures $42.10 billion
Ranked 59th. 1343760 times more than Wallis and Futuna
$31,330.00
Ranked 23th.

Budget > Revenues $36.35 billion
Ranked 59th. 1222671 times more than Wallis and Futuna
$29,730.00
Ranked 223th.

Budget > Revenues > Per capita $285.49 per capita
Ranked 62nd. 153 times more than Wallis and Futuna
$1.87 per capita
Ranked 24th.
Debt > Government debt > Public debt, share of GDP 51 CIA
Ranked 61st. 9 times more than Wallis and Futuna
5.6 CIA
Ranked 147th.
Overview Philippine GDP growth, which cooled from 7.6% in 2010 to 3.9% in 2011, expanded to 6.6% in 2012 - meeting the government's targeted 6%-7% growth range. The 2012 expansion partly reflected a rebound from depressed 2011 export and public sector spending levels. The economy has weathered global economic and financial downturns better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a rapidly expanding business process outsourcing industry. The current account balance had recorded consecutive surpluses since 2003; international reserves are at record highs; the banking system is stable; and the stock market was Asia's second best-performer in 2012. Efforts to improve tax administration and expenditure management have helped ease the Philippines' tight fiscal situation and reduce high debt levels. The Philippines received several credit rating upgrades on its sovereign debt in 2012, and has had little difficulty tapping domestic and international markets to finance its deficits. Achieving a higher growth path nevertheless remains a pressing challenge. Economic growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration but poverty worsened during her term. Growth has accelerated under the AQUINO government, but with limited progress thus far in bringing down unemployment, which hovers around 7%, and improving the quality of jobs. Underemployment is nearly 20% and more than 40% of the employed are estimated to be working in the informal sector. The AQUINO administration has been working to boost the budgets for education, health, cash transfers to the poor, and other social spending programs, and is relying on the private sector to help fund major infrastructure projects under its Public-Private Partnership program. Long term challenges include reforming governance and the judicial system, building infrastructure, improving regulatory predictability, and the ease of doing business, attracting higher levels of local and foreign investments. The Philippine Constitution and the other laws continue to restrict foreign ownership in important activities/sectors (such as land ownership and public utilities). The economy is limited to traditional subsistence agriculture, with 80% of labor force earnings from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. About 4% of the population is employed in government. Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia.
Exports $46.28 billion
Ranked 58th. 975342 times more than Wallis and Futuna
$47,450.00
Ranked 14th.
Exports > Commodities semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits copra, chemicals, construction materials
Fiscal year calendar year calendar year
GDP > Per capita $3,756.92 per capita
Ranked 73th.
$3,778.34 per capita
Ranked 13th. 1% more than Philippines
GDP > Per capita > PPP $4,400.00
Ranked 130th. 16% more than Wallis and Futuna
$3,800.00
Ranked 7th.

GDP > Purchasing power parity $419.60 billion
Ranked 31st. 6993 times more than Wallis and Futuna
$60.00 million
Ranked 9th.

Imports $61.49 billion
Ranked 46th. 1005 times more than Wallis and Futuna
$61.17 million
Ranked 11th.
Inflation rate > Consumer prices 3.2%
Ranked 114th. 14% more than Wallis and Futuna
2.8%
Ranked 7th.

Public debt 51.5% of GDP
Ranked 62nd. 9 times more than Wallis and Futuna
5.6% of GDP
Ranked 2nd.

Unemployment rate 7%
Ranked 62nd.
12.2%
Ranked 10th. 74% more than Philippines

Debt > External $74.88 billion
Ranked 53th. 20403 times more than Wallis and Futuna
$3.67 million
Ranked 16th.

Debt > External > Per capita $678.33 per capita
Ranked 81st. 3 times more than Wallis and Futuna
$231.11 per capita
Ranked 26th.
Industries electronics assembly, garments, footwear, pharmaceuticals, chemicals, wood products, food processing, petroleum refining, fishing copra, handicrafts, fishing, lumber
Labor force 40
Ranked 69th. 13 times more than Wallis and Futuna
3
Ranked 187th.

Agriculture > Products sugarcane, coconuts, rice, corn, bananas, cassavas, pineapples, mangoes; pork, eggs, beef; fish coconuts, breadfruit, yams, taro, bananas; pigs, goats; fish
Currency Philippine peso Comptoirs Francais du Pacifique franc
GDP > Purchasing power parity > Per capita $3,756.92 per capita
Ranked 73th.
$3,778.34 per capita
Ranked 13th. 1% more than Philippines
Exchange rates Philippine pesos (PHP) per US dollar -<br />42.23 (2012 est.)<br />43.31 (2011 est.)<br />45.11 (2010 est.)<br />47.68 (2009)<br />44.44 (2008) Comptoirs Francais du Pacifique francs (XPF) per US dollar -<br />90.01 (February 2012)<br />87.59 (2007)
GDP > CIA Factbook $390.70 billion
Ranked 25th. 6784 times more than Wallis and Futuna
$57.59 million
Ranked 173th.

Trade > Exports to US $2.61 billion
Ranked 21st.
0.0
Ranked 224th.
Labor force > By occupation > Agriculture 32%
Ranked 71st.
80%
Ranked 19th. 3 times more than Philippines

Labor force > By occupation > Services 53%
Ranked 16th. 3 times more than Wallis and Futuna
16%
Ranked 6th.
Trade > Imports $59.90 billion
Ranked 41st. 979 times more than Wallis and Futuna
$61.17 million
Ranked 55th.

GDP > CIA Factbook > Per capita $4,873.62 per capita
Ranked 93th. 33% more than Wallis and Futuna
$3,660.23 per capita
Ranked 106th.
GDP > Per $ GDP $3,756.92 per $1 of GDP
Ranked 73th.
$3,778.34 per $1 of GDP
Ranked 13th. 1% more than Philippines
Trade > Exports $50.72 billion
Ranked 52nd. 1068915 times more than Wallis and Futuna
$47,450.00
Ranked 61st.

Imports > Commodities electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic chemicals, machinery, consumer goods
Labor force per thousand people 0.000378
Ranked 170th.
0.193
Ranked 83th. 511 times more than Philippines

Budget > Expenditures > Per capita $359.74 per capita
Ranked 62nd. 182 times more than Wallis and Futuna
$1.97 per capita
Ranked 23th.
Labor force > By occupation > Industry 15%
Ranked 118th. 4 times more than Wallis and Futuna
4%
Ranked 161st.

Trade balance with US $-524,600,000.00
Ranked 194th.
$300,000.00
Ranked 93th.
External debt > Date of information 2006 est. 2004

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); CIA World Factbooks 2010, 2011, 2012, 2013; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbook 2010, 2011, 2012, 2013; US Census Bureau; CIA World Factbooks 2010, 2011, 2012, 2013. 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.; Wikipedia: List of countries by external debt

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