The Philippines vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while the Philippines ranked 40th with $330.9B. By GDP 5-years average growth and GDP per capita, South Korea and the Philippines ranked 93rd vs 21st and 33rd vs 134th, respectively.
Gross Domestic Product & Income
| Stat |  Philippines |  South Korea |
|---|---|---|
| GDP | $330.9B | $1.6T |
| GDP growth, 1 year | 6.2% | 2.7% |
| GDP growth, 5-years average | 6.4% | 3% |
| Population | 104.9M | 51.5M |
| GDP per capita | $3.1k | $31k |
| GDP per capita growth | 4.77% | 2.33% |
| Purchasing Power Parity conversion factor | 18.25 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.35 | 0.78 |
| GDP per capita, PPP adjusted | $8.9k | $41k |
| GNI, Atlas method | $408.8B | $1.6T |
| GNI per capita | $3.8k | $31k |
| GNI, PPP adjusted | $1.1T | $2.1T |
| GNI per capita, PPP adjusted | $11k | $40k |
Financial system and Human development
| Stat | Philippines | South Korea |
|---|---|---|
| Income Tax Rate | 35% | 42% |
| Corporate Tax Rate | 30% | 25% |
| Inflation, consumer prices | 5.2% | 1.5% |
| Inflation, GDP deflator | 3.8% | 0.3% |
| Unemployment | 2.5% | 3.8% |
| Economic Freedom Index | 64.5 | 74 |
| Personal Freedom Index | 7.06 | 8.84 |
| Human Freedom Index | 6.92 | 8.15 |
| Property Rights Index | 54.6 | 82.5 |
| Judical Effectiveness Index | 34.2 | 61 |
| Business Freedom Index | 59.5 | 90.5 |
| Fiscal Health Index | 96.3 | 96.7 |
| Labor Freedom Index | 57.4 | 56.2 |
| Investment Freedom Index | 60 | 70 |
| Financial Freedom Index | 60 | 70 |
| Trade Freedom Index | 81.6 | 80 |
| Monetary Freedom Index | 66.9 | 82.1 |
| Government Spending Index | 87.9 | 67.7 |
| Tax Burden Index | 76.7 | 63.9 |
| Government Integrity Index | 38.7 | 67.5 |
| Corruption Perceptions Index | 36 | 57 |
| Life expectancy at birth, years | 71 | 82.6 |
| Suicide mortality rate, per 100,000 people | 3.2 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 12.3 | 9.8 |
| Intentional homicides, per 100,000 people | 8.4 | 0.6 |
| International tourism, number of arrivals | 7.2M | 15.3M |
Government debt & reserves
| Stat | Philippines | South Korea |
|---|---|---|
| Central government debt, % of GDP | 39.6% | 40.7% |
| External debt stocks, % of GNI | 19.9% | N/A |
| External debt stocks | $78.8B | N/A |
| Short-term debt, % of total reserves | 20.3% | N/A |
| Total debt service, % of exports and primary income | 8.7% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 28.5% | 20.1% |
| Gross savings, % of GDP | 42.4% | 34.7% |
| Gross capital formation, % of GDP | 26.9% | 30.2% |
| Total reserves including gold | $79.2B | $403.1B |
| Foreign direct investment net inflows | $9.8B | $14.5B |
Exports, imports and economic structure
| Stat | Philippines | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 31.7% | 44% |
| Imports of goods and services, % of GDP | 44.4% | 39% |
| Current account balance (balance of payments) | -$8.7B | $76.4B |
| Revenue excluding grants, % of GDP | 16.3% | 27.8% |
| Grants excluding technical cooperation, BoP | $436.5M | $6.7M |
| Personal remittances received | $33.8B | $7.1B |
| Industry including construction value added, % of GDP | 30.7% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 9.3% | 2% |
| Charges for the use of intellectual property, payments BoP | $917M | $9.9B |
| Charges for the use of intellectual property, receipts BoP | $44.1M | $7.8B |
| Expense, % of GDP | 14.9% | 25.4% |
| Government Expenditure, % of GDP | 20.1% | 32.8% |
