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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
The Philippine economy is the world's 34th largest, with an estimated 2023 nominal gross domestic product of US$435.7 billion. [13] As a newly industrialized country , [ 466 ] [ 467 ] the Philippine economy has been transitioning from an agricultural base to one with more emphasis on services and manufacturing.
The richest 10 percent, meanwhile, took a larger share of the income at 41.7 percent in 1980, up from 37.1 percent in 1970. [61] According to the FIES (Family Income and Expenditure Survey) conducted from 1965 to 1985, poverty incidence in the Philippines rose from 41 percent in 1965 to 58.9 percent in 1985.
Economic history of the Philippines (1965–1986) Real GDP per capita development of the Philippines, 1965 to 1986. The 21-year period of Philippine economic history during Ferdinand Marcos’ regime – from his election in 1965 until he was ousted by the People Power Revolution in 1986 – was a period of significant economic lows. [1] [2] [3 ...
U.S. Vice President Kamala Harris meeting with Philippine Vice President Sara Duterte in Manila, November 21, 2022. Philippines–United States relations ( Filipino: Ugnayang Pilipinas at Estados Unidos) are the bilateral and diplomatic relations of the Republic of the Philippines and the United States of America.
Figures exclude cities in Metro Manila. GDP (Nominal) figures based on 2018 Philippine Constant Prices as published by the Philippine Statistics Office on their various public releases in 2023. GDP in PPP using 2018 Constant Prices not publicized. GDP in USD using 2023 Exchange Rates. % of GDP Regional not publicized for Central Visayas Cities.
The underemployment rate eased to 26.2 percent in 2012 from 28 percent in 2010, but is still much higher than the end-of-plan target of 20 percent. Employment in the region has increased by 2.79 percent between 2010 and 2012, a bit higher than the national average of 2.16 percent.
As with other Marcos family members who have stayed in the public eye since their return to the Philippines, [262] [263] [264] Marcos has received significant criticism for instances of historical denialism, and his trivialization of the human rights violations and economic plunder that took place during the Marcos administration, and of the ...