The Philippines ranked 35/197 by economy size with a GDP of $462B and 130/197 by GDP per capita at $3,985. The Philippines has $261B in government debt, with a debt-to-GDP ratio of 56.6%.
In 2024, the Philippines made up 0.42% of the world's economy, compared to 0.55% in 1960.
Philippines GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $461,617,509,782 | 5.69% |
| 2023 | $437,055,627,244 | 5.52% |
| 2022 | $404,353,369,605 | 7.58% |
| 2021 | $394,087,359,848 | 5.71% |
| 2020 | $361,751,145,452 | -9.52% |
| 2019 | $376,823,402,239 | 6.12% |
| 2018 | $346,841,896,587 | 6.34% |
| 2017 | $328,480,736,803 | 6.93% |
| 2016 | $318,627,003,017 | 7.15% |
| 2015 | $306,445,871,242 | 6.35% |
| 2014 | $297,483,555,338 | 6.35% |
| 2013 | $283,902,828,589 | 6.75% |
| 2012 | $261,920,540,963 | 6.9% |
| 2011 | $234,216,730,291 | 3.86% |
| 2010 | $208,368,893,151 | 7.33% |
| 2009 | $175,974,755,881 | 1.45% |
| 2008 | $181,624,626,327 | 4.34% |
| 2007 | $155,980,408,673 | 6.52% |
| 2006 | $127,652,926,368 | 5.32% |
| 2005 | $107,419,977,318 | 4.94% |
| 2004 | $95,001,999,685 | 6.57% |
| 2003 | $87,039,092,974 | 5.09% |
| 2002 | $84,307,345,888 | 3.72% |
| 2001 | $78,921,234,458 | 3.05% |
| 2000 | $83,669,788,377 | 4.38% |
| 1999 | $85,640,171,045 | 3.35% |
| 1998 | $74,492,416,330 | -0.51% |
| 1997 | $94,106,317,565 | 5.19% |
| 1996 | $94,648,084,429 | 5.86% |
| 1995 | $84,644,328,727 | 4.63% |
| 1994 | $73,159,336,915 | 4.37% |
| 1993 | $62,036,529,147 | 2.18% |
| 1992 | $60,422,328,242 | 0.42% |
| 1991 | $51,784,144,943 | -0.44% |
| 1990 | $50,508,286,642 | 3.08% |
| 1989 | $48,513,773,721 | 6.18% |
| 1988 | $43,152,128,959 | 6.7% |
| 1987 | $37,791,488,666 | 4.36% |
| 1986 | $33,987,207,295 | 3.51% |
| 1985 | $34,961,486,348 | -6.86% |
| 1984 | $35,730,185,634 | -7.04% |
| 1983 | $37,759,179,895 | 1.9% |
| 1982 | $42,206,011,275 | 3.7% |
| 1981 | $40,499,388,869 | 3.42% |
| 1980 | $36,848,080,899 | 5.2% |
| 1979 | $31,218,296,292 | 5.6% |
| 1978 | $25,762,224,563 | 5.19% |
| 1977 | $22,283,109,803 | 5.56% |
| 1976 | $19,381,055,197 | 8.78% |
| 1975 | $16,875,240,684 | 5.45% |
| 1974 | $15,607,882,555 | 3.39% |
| 1973 | $11,412,449,735 | 8.78% |
| 1972 | $9,067,815,521 | 5.43% |
| 1971 | $8,375,075,630 | 5.39% |
| 1970 | $7,559,115,517 | 3.69% |
| 1969 | $9,571,800,653 | 4.69% |
| 1968 | $8,632,749,269 | 5.04% |
| 1967 | $7,724,873,935 | 5.22% |
| 1966 | $7,189,017,888 | 4.44% |
| 1965 | $6,517,349,772 | 5.35% |
| 1964 | $5,953,756,195 | 3.4% |
| 1963 | $5,505,023,238 | 7.02% |
| 1962 | $4,954,593,072 | 4.85% |
| 1961 | $8,171,194,425 | 5.7% |
| 1960 | $7,515,894,111 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/philippines | CC BY 
Philippines GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $3,985 | $11,794 |
| 2023 | $3,804 | $10,986 |
| 2022 | $3,548 | $10,131 |
| 2021 | $3,484 | $8,858 |
| 2020 | $3,228 | $8,238 |
| 2019 | $3,401 | $8,924 |
| 2018 | $3,169 | $8,358 |
| 2017 | $3,038 | $7,774 |
| 2016 | $2,985 | $7,383 |
| 2015 | $2,910 | $6,894 |
| 2014 | $2,867 | $6,689 |
| 2013 | $2,781 | $6,373 |
| 2012 | $2,615 | $6,094 |
| 2011 | $2,384 | $5,705 |
| 2010 | $2,163 | $5,489 |
| 2009 | $1,864 | $5,157 |
| 2008 | $1,959 | $5,144 |
| 2007 | $1,713 | $4,923 |
| 2006 | $1,426 | $4,579 |
| 2005 | $1,220 | $4,289 |
| 2004 | $1,100 | $4,037 |
| 2003 | $1,027 | $3,761 |
| 2002 | $1,015 | $3,580 |
| 2001 | $970 | $3,469 |
| 2000 | $1,051 | $3,366 |
| 1999 | $1,101 | $3,229 |
| 1998 | $983 | $3,160 |
| 1997 | $1,273 | $3,221 |
| 1996 | $1,311 | $3,082 |
| 1995 | $1,200 | $2,926 |
| 1994 | $1,060 | $2,800 |
| 1993 | $919 | $2,684 |
| 1992 | $917 | $2,629 |
| 1991 | $804 | $2,621 |
| 1990 | $804 | $2,608 |
| 1989 | $792 | - |
| 1988 | $722 | - |
| 1987 | $650 | - |
| 1986 | $600 | - |
| 1985 | $633 | - |
| 1984 | $665 | - |
| 1983 | $723 | - |
| 1982 | $833 | - |
| 1981 | $821 | - |
| 1980 | $767 | - |
| 1979 | $667 | - |
| 1978 | $565 | - |
| 1977 | $502 | - |
| 1976 | $449 | - |
| 1975 | $401 | - |
| 1974 | $379 | - |
| 1973 | $283.2 | - |
| 1972 | $230.1 | - |
| 1971 | $217.4 | - |
| 1970 | $200.9 | - |
| 1969 | $261.1 | - |
| 1968 | $242.2 | - |
| 1967 | $223.1 | - |
| 1966 | $213.8 | - |
| 1965 | $199.8 | - |
| 1964 | $188.2 | - |
| 1963 | $179.5 | - |
| 1962 | $166.7 | - |
| 1961 | $283.8 | - |
| 1960 | $269.5 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/philippines | CC BY
The Philippines has a GDP per capita of $3,985, ranking 130/197, a GDP per capita based on purchasing power parity (PPP) of $11,794, ranking 127/197, and a median annual after tax income of $3,407, ranking 134/197.
Philippines GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 35 | 122 | 116 |
| 2023 | 36 | 127 | 122 |
| 2022 | 40 | 131 | 122 |
| 2021 | 39 | 132 | 124 |
| 2020 | 34 | 131 | 123 |
| 2019 | 34 | 132 | 122 |
| 2018 | 39 | 133 | 122 |
| 2017 | 38 | 133 | 128 |
| 2016 | 36 | 131 | 126 |
| 2015 | 35 | 132 | 128 |
| 2014 | 39 | 136 | 128 |
| 2013 | 39 | 136 | 129 |
| 2012 | 41 | 137 | 130 |
| 2011 | 45 | 137 | 131 |
| 2010 | 46 | 137 | 130 |
| 2009 | 46 | 135 | 130 |
| 2008 | 47 | 135 | 130 |
| 2007 | 47 | 133 | 129 |
| 2006 | 46 | 132 | 131 |
| 2005 | 48 | 131 | 130 |
| 2004 | 48 | 132 | 128 |
| 2003 | 45 | 127 | 130 |
| 2002 | 45 | 123 | 128 |
| 2001 | 44 | 124 | 124 |
| 2000 | 44 | 121 | 124 |
| 1999 | 41 | 117 | 122 |
| 1998 | 44 | 121 | 119 |
| 1997 | 40 | 115 | 117 |
| 1996 | 40 | 111 | 114 |
| 1995 | 40 | 113 | 115 |
| 1994 | 39 | 111 | 114 |
| 1993 | 39 | 115 | 115 |
| 1992 | 37 | 115 | 117 |
| 1991 | 39 | 125 | 119 |
| 1990 | 41 | 125 | 118 |
| 1989 | 38 | 112 | - |
| 1988 | 41 | 117 | - |
| 1987 | 42 | 117 | - |
| 1986 | 40 | 115 | - |
| 1985 | 38 | 110 | - |
| 1984 | 38 | 106 | - |
| 1983 | 38 | 105 | - |
| 1982 | 36 | 99 | - |
| 1981 | 35 | 100 | - |
| 1980 | 37 | 106 | - |
| 1979 | 36 | 101 | - |
| 1978 | 34 | 103 | - |
| 1977 | 34 | 103 | - |
| 1976 | 33 | 101 | - |
| 1975 | 35 | 103 | - |
| 1974 | 35 | 102 | - |
| 1973 | 36 | 103 | - |
| 1972 | 39 | 105 | - |
| 1971 | 36 | 104 | - |
| 1970 | 36 | 105 | - |
| 1969 | 28 | 75 | - |
| 1968 | 27 | 76 | - |
| 1967 | 27 | 75 | - |
| 1966 | 28 | 78 | - |
| 1965 | 27 | 79 | - |
| 1964 | 30 | 73 | - |
| 1963 | 30 | 74 | - |
| 1962 | 31 | 73 | - |
| 1961 | 20 | 46 | - |
| 1960 | 22 | 48 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/philippines | CC BY
Compared with 2000, in 2024 the Philippines is ranked 35th out of 182 by GDP (up from 44th), 122nd by GDP per capita (down from 121st), and 116th by GDP per capita PPP (up from 124th).
Economic indicators
Philippines
|
Rank | |
|---|---|---|
| Gross domestic product |
$462B
2024 |
35/197 |
| GDP growth |
5.69%
2023-2024 |
27/194 |
| GDP per capita |
$3,985
2024 |
130/197 |
| GDP per capita, PPP |
$11,794
2024 |
127/197 |
| Government debt |
$261B
2024 |
34/185 |
| Debt-to-GDP ratio |
56.6%
2024 |
93/185 |
| Government debt per person |
$2,257
2024 |
117/185 |
| Average annual personal income after taxes |
$3,407
2026 |
134/197 |
| Listed domestic companies |
280
2024 |
27/103 |
| Market capitalization of domestic companies |
$252B
2024 |
31/100 |
| Number of billionaires |
15
2025 |
27/78 |
| Billionaire frequency |
1 in 4,817,640
2025 |
60/78 |
| Income share by richest 10% |
31.6%
2023 |
39/169 |
| Income share by poorest 10% |
2.9%
2023 |
76/169 |
| Government expenditure, % of GDP |
24.9%
2024 |
122/195 |
| Consumer prices inflation |
3.21%
2023-2024 |
94/195 |
| Central bank interest rate |
4.75%
2025 |
63/106 |
| Unemployment rate |
2.41%
2023 |
170/196 |
| Population |
117991570
|
14/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 24.9% | 56.6% | -3.78% |
| 2023 | 24.7% | 56.5% | -4.38% |
| 2022 | 25.9% | 57.4% | -5.48% |
| 2021 | 27.2% | 57% | -6.23% |
| 2020 | 25.9% | 51.6% | -5.55% |
| 2019 | 21.7% | 37% | -1.5% |
| 2018 | 20.9% | 37.1% | -1.48% |
| 2017 | 19.5% | 38.1% | -0.75% |
| 2016 | 19% | 37.4% | -0.74% |
| 2015 | 17.8% | 39.7% | 0.14% |
| 2014 | 16.8% | 40.3% | 1.32% |
| 2013 | 17.3% | 43.9% | 0.37% |
| 2012 | 17.7% | 45.7% | -0.22% |
| 2011 | 17.2% | 45.4% | -0.38% |
| 2010 | 18.3% | 47.6% | -2.25% |
| 2009 | 19.2% | 49.8% | -2.57% |
| 2008 | 17.9% | 50% | 0.02% |
| 2007 | 18.2% | 50.2% | -0.28% |
| 2006 | 18.3% | 57.2% | -0.05% |
| 2005 | 18.7% | 64.7% | -1.62% |
| 2004 | 19.4% | 71.1% | -2.81% |
| 2003 | 20.4% | 71.4% | -3.49% |
| 2002 | 20.6% | 65.2% | -3.71% |
| 2001 | 21% | 59.5% | -3.49% |
| 2000 | 20.8% | 59.2% | -3.27% |
| 1999 | 20.7% | 54.2% | -2.29% |
| 1998 | 20.3% | 50.8% | -1.31% |
| 1997 | 20.3% | 56.9% | 0.37% |
| 1996 | 19.6% | 53.1% | 0.54% |
| 1995 | 19.1% | 60.8% | -0.02% |
| 1994 | 19.7% | 63.6% | -0.44% |
| 1993 | 17.6% | 73.9% | 0.63% |
| 1992 | 18.4% | 53.9% | -0.43% |
| 1991 | 18% | 55.6% | -0.26% |
| 1990 | 18.8% | 56.2% | -1.52% |
| 1989 | 15.7% | 55.2% | -1.64% |
| 1988 | 15.9% | 69% | -2.71% |
| 1987 | 15.7% | 79.2% | -1.06% |
| 1986 | 13.5% | 77.7% | -0.55% |
| 1985 | 11.3% | 53.1% | 0.71% |
| 1984 | 10.1% | 45.8% | 0.64% |
| 1983 | 12.2% | 43.1% | 0.1% |
| 1982 | 12.8% | 32.9% | -0.88% |
| 1981 | 13.7% | 27.6% | -1.09% |
| 1980 | 13.4% | 24.8% | 0.56% |
| 1979 | 11.9% | 22.5% | 1.54% |
| 1978 | 13.3% | 23.1% | 0.05% |
| 1977 | 13.3% | 19.8% | -0.42% |
| 1976 | 13.8% | 16.8% | -0.55% |
| 1975 | 15.1% | 13% | 0.13% |
| 1974 | 10.7% | 13.4% | 5.94% |
| 1973 | 14% | 11.5% | 2.49% |
| 1972 | 13.4% | 14.2% | 3.39% |
| 1971 | 11.2% | 14.8% | -0.96% |
| 1970 | 10.4% | 16.8% | -0.31% |
| 1969 | 11.5% | 16.4% | -2.67% |
| 1968 | 11.2% | 15.7% | -2.33% |
| 1967 | 10.2% | 15.4% | -1.35% |
| 1966 | 9.77% | 14.4% | -0.74% |
| 1965 | 9.48% | 15% | -1.53% |
| 1964 | 9.66% | 14.2% | -0.99% |
| 1963 | 10.4% | 14.1% | -0.68% |
| 1962 | 10.8% | 15.9% | -0.43% |
| 1961 | 9.6% | 16.5% | -0.29% |
| 1960 | 10.1% | 16.6% | -1.06% |
| 1959 | 9.13% | 12.7% | -0.15% |
| 1958 | 8.43% | 13.1% | -0.21% |
| 1957 | 8.82% | 13.7% | -0.56% |
| 1956 | 9.58% | 14.6% | -0.77% |
| 1955 | 9.7% | 13.1% | -1.3% |
| 1954 | 8.87% | 12.1% | -0.79% |
| 1953 | 8.59% | - | -0.88% |
| 1952 | 7.45% | - | 0.49% |
| 1951 | 7.67% | - | 1.5% |
| 1950 | 7.23% | - | -0.19% |
| 1949 | 7.68% | - | -2.33% |
| 1948 | 6.76% | - | -0.65% |
| 1947 | 6.28% | - | 0.05% |
| 1946 | 8.28% | - | -2.54% |
Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1946–1992, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).
GeoRank.org/economy/philippines | CC BY
This chart shows the Philippines' government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 50 years, the Philippines recorded a fiscal deficit in 36 of them, with an average annual deficit equal to 1.24% of GDP. In 2024, government spending reached $115B (24.9% of GDP), with a deficit of 3.78%.
The national debt reached $261B, ranking 34th out of 185 countries by total size, with a debt-to-GDP ratio of 56.6%, ranking 93rd.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 3.21% |
| 2023 | 5.98% |
| 2022 | 5.82% |
| 2021 | 3.93% |
| 2020 | 2.39% |
| 2019 | 2.39% |
| 2018 | 5.31% |
| 2017 | 2.85% |
| 2016 | 1.25% |
| 2015 | 0.67% |
| 2014 | 3.6% |
| 2013 | 2.58% |
| 2012 | 3.03% |
| 2011 | 4.72% |
| 2010 | 3.79% |
| 2009 | 4.22% |
| 2008 | 8.26% |
| 2007 | 2.9% |
| 2006 | 5.49% |
| 2005 | 6.52% |
| 2004 | 4.83% |
| 2003 | 2.29% |
| 2002 | 2.72% |
| 2001 | 5.35% |
| 2000 | 3.98% |
| 1999 | 5.94% |
| 1998 | 9.23% |
| 1997 | 5.59% |
| 1996 | 7.48% |
| 1995 | 6.83% |
| 1994 | 10.4% |
| 1993 | 6.72% |
| 1992 | 8.65% |
| 1991 | 19.3% |
| 1990 | 12.2% |
| 1989 | 12.2% |
| 1988 | 13.9% |
| 1987 | 4.07% |
| 1986 | 1.15% |
| 1985 | 23.1% |
| 1984 | 50.3% |
| 1983 | 10% |
| 1982 | 10.2% |
| 1981 | 13.1% |
| 1980 | 18.2% |
| 1979 | 17.5% |
| 1978 | 7.33% |
| 1977 | 9.9% |
| 1976 | 9.2% |
| 1975 | 6.76% |
| 1974 | 34.2% |
| 1973 | 16.6% |
| 1972 | 8.2% |
| 1971 | 21.4% |
| 1970 | 14.4% |
| 1969 | 1.96% |
| 1968 | 2.36% |
| 1967 | 6.25% |
| 1966 | 5.4% |
| 1965 | 2.56% |
| 1964 | 8.18% |
| 1963 | 5.63% |
| 1962 | 5.8% |
| 1961 | 1.6% |
| 1960 | 4.15% |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/philippines | CC BY
Over the past 20 years, the Philippines has had an average annual inflation rate of 3.95%. In 2024, inflation was 3.21%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Philippines
|
Rank | |
|---|---|---|
|
Current account balance
|
-$18.3B
2024 |
183/190 |
| Current account balance, % of GDP |
-3.96%
2024 |
126/190 |
| Goods imports |
$124B
2024 |
35/189 |
| Goods exports |
$55.1B
2024 |
49/189 |
| Service imports |
$37.6B
2024 |
36/189 |
| Service exports |
$51.6B
2024 |
33/189 |
| Imports of goods and services, % of GDP |
40.1%
2024 |
99/181 |
| Exports of goods and services, % of GDP |
25.8%
2024 |
128/193 |
Philippines top 10 trading partners
The Philippines' biggest trading partner accounting for 23.2% of all exports and imports is China, with a trade balance between the two of -$25.1B: the Philippines exports $9.42B worth of goods and services to China and imports $34.5B.
Below is the list of the top 10 trade partners of the Philippines.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
China
|
$43.9B | 23.2% | $9.42B | $34.5B | Machinery & equipment | Machinery & equipment |
| 2 |
United States
|
$21B | 11.1% | $12.1B | $8.85B | Machinery & equipment | Machinery & equipment |
| 3 |
Japan
|
$20.9B | 11.1% | $10.3B | $10.7B | Machinery & equipment | Machinery & equipment |
| 4 |
South Korea
|
$13.6B | 7.18% | $3.56B | $10B | Machinery & equipment | Machinery & equipment |
| 5 |
Indonesia
|
$12.3B | 6.52% | $1.05B | $11.3B | Machinery & equipment | Raw materials & minerals |
| 6 |
Thailand
|
$10.7B | 5.68% | $2.95B | $7.8B | Machinery & equipment | Machinery & equipment |
| 7 |
Singapore
|
$8.93B | 4.72% | $2.94B | $5.99B | Machinery & equipment | Machinery & equipment |
| 8 |
Malaysia
|
$8.45B | 4.47% | $2.21B | $6.24B | Machinery & equipment | Machinery & equipment |
| 9 |
Vietnam
|
$7.38B | 3.9% | $1.65B | $5.72B | Machinery & equipment | Raw agricultural goods |
| 10 |
Germany
|
$4.72B | 2.5% | $2.46B | $2.26B | Machinery & equipment | Machinery & equipment |
Top 10 exports
|
Philippines
|
Rank | |
|---|---|---|
| Machinery & equipment | $49.3B | 30/193 |
| Business & finance services | $23.7B | 20/188 |
| Transport & tourism services | $12.3B | 45/188 |
| IT & IP services | $7.13B | 28/183 |
| Manufacturing & construction services | $5.13B | 19/164 |
| Processed food, beverages & tobacco | $4.99B | 43/192 |
| Raw materials & minerals | $4.77B | 75/193 |
| Metals | $3.5B | 52/192 |
| Textiles & consumer goods | $2.41B | 56/193 |
| Raw agricultural goods | $2.4B | 53/193 |
Top 10 imports
|
Philippines
|
Rank | |
|---|---|---|
| Machinery & equipment | $53.5B | 34/193 |
| Raw materials & minerals | $27.3B | 26/193 |
| Transport & tourism services | $13.8B | 41/188 |
| Chemicals & pharma | $12.6B | 40/193 |
| Business & finance services | $12.1B | 35/188 |
| Metals | $9.85B | 36/193 |
| Processed food, beverages & tobacco | $9.72B | 27/193 |
| Raw agricultural goods | $6.89B | 26/193 |
| Textiles & consumer goods | $6.62B | 45/193 |
| Animal & marine products | $4.34B | 23/193 |
Economic freedom indices
|
Philippines
|
Rank | |
|---|---|---|
| Economic freedom | 62.9 | 85/197 |
| Property rights | 45.8 | 101/182 |
| Government integrity | 35.4 | 115/182 |
| Judicial effectiveness | 41.8 | 100/182 |
| Tax burden | 78.3 | 96/182 |
| Government spending | 81 | 63/180 |
| Fiscal health | 60.5 | 117/181 |
| Business freedom | 69.2 | 73/182 |
| Labor freedom | 57.8 | 70/182 |
| Monetary freedom | 72.1 | 115/180 |
| Trade freedom | 83 | 15/181 |
| Investment freedom | 70 | 39/181 |
| Financial freedom | 60 | 59/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 62.9 | 41.8 | 78.3 | 81 | 60.5 |
| 2025 | 60.6 | 42.5 | 79.1 | 79.9 | 47.7 |
| 2024 | 59 | 42.2 | 78.2 | 79.2 | 40.5 |
| 2023 | 59.3 | 34.4 | 78.3 | 81.3 | 59.4 |
| 2022 | 61.1 | 25.6 | 76.8 | 84.2 | 81.8 |
| 2021 | 64.1 | 34.5 | 76.8 | 87.4 | 94.3 |
| 2020 | 64.5 | 34.2 | 76.7 | 87.9 | 96.3 |
| 2019 | 63.8 | 36.4 | 76.9 | 88.7 | 97.1 |
| 2018 | 65 | 38.2 | 78.9 | 89.3 | 97.7 |
| 2017 | 65.6 | 37.1 | 78.9 | 89.4 | 97.2 |
| 2016 | 63.1 | - | 79 | 89.6 | - |
| 2015 | 62.2 | - | 79.1 | 89.3 | - |
| 2014 | 60.1 | - | 79.2 | 92.3 | - |
| 2013 | 58.2 | - | 79.3 | 90.2 | - |
| 2012 | 57.1 | - | 79.1 | 89.7 | - |
| 2011 | 56.2 | - | 78.8 | 91 | - |
| 2010 | 56.3 | - | 78.8 | 91.2 | - |
| 2009 | 56.8 | - | 75.4 | 90.8 | - |
| 2008 | 56 | - | 75.8 | 90.2 | - |
| 2007 | 56 | - | 76 | 89.5 | - |
| 2006 | 56.3 | - | 75.9 | 88.9 | - |
| 2005 | 54.7 | - | 78 | 88.5 | - |
| 2004 | 59.1 | - | 77.7 | 88.8 | - |
| 2003 | 61.3 | - | 77.6 | 88.6 | - |
| 2002 | 60.7 | - | 77.4 | 88 | - |
| 2001 | 60.9 | - | 77.3 | 88 | - |
| 2000 | 62.5 | - | 74.2 | 89.2 | - |
| 1999 | 61.9 | - | 73.5 | 90.6 | - |
| 1998 | 62.8 | - | 73 | 88.9 | - |
| 1997 | 62.2 | - | 73.1 | 87.9 | - |
| 1996 | 60.2 | - | 73.2 | 89.4 | - |
| 1995 | 55 | - | 73.2 | 88.4 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/philippines | CC BY
The Philippines is ranked 77/174 for economic freedom with a score of 62.9, compared to 98/162 and a score of 56.3 in 2006.
Other economic metrics
|
Philippines
|
Rank | |
|---|---|---|
| Services, % of GDP |
63.2%
2024 |
57/191 |
| Industry, % of GDP |
27.7%
2024 |
69/194 |
| Agriculture, forestry, and fishing, % of GDP |
9.08%
2024 |
77/193 |
|
GNI, Atlas method
|
$518B
2024 |
29/194 |
| GNI per capita, PPP |
$13,330
2024 |
115/191 |
| Total reserves including gold |
$106B
2024 |
27/177 |
|
Net foreign direct investment
|
-$6.57B
2024 |
172/189 |
|
Net inflows of foreign direct investment
|
$9.44B
2024 |
38/193 |
|
Net outflows of foreign direct investment
|
$2.87B
2024 |
38/193 |
|
Servicing debt to the IMF, % of GNI
|
3.45%
2024 |
69/121 |
| Poverty at national poverty lines |
15.5%
2023 |
128/176 |
|
Gross capital formation, % of GDP
|
23.7%
2024 |
82/178 |
Compare Philippines vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/philippines | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Public Finances in Modern History (1946–1992, retrieved 2026-02-20)
- International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2023–2024, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.