Philippines Country profile


The Philippines is the 36th largest economy in the world, and the 5th largest in ASEAN after Indonesia, Thailand, Malaysia and Singapore. Real GDP grew on average 6.3% per year over the ten years to 2019, making it one of the fastest growing economies in Asia. The Philippines favourable demographic trend supports continued robust growth ahead. The Philippines outperforms emerging Asian economies on measures of creditworthiness and GDP growth, but still lags peers on indicators of per capita incomes and the business climate.

This chart is a cobweb diagram showing how a country measures up on four important dimensions of economic performance—per capita income, annual GDP growth, business climate and creditworthiness. Per capita income is in current US dollars between 2019 and 2024 as provided by the IMF. Annual GDP growth is the average between 2019 and 2024. Business climate is measured by the World Bank’s Ease of Doing Business ranking of 190 countries. Creditworthiness attempts to measure a country's ability to honour its external debt obligations and is measured by its OECD country credit risk rating. The chart shows not only how a country performs on the four dimensions, but how it measures up against other comparable countries.