The Philippines vs Taiwan: Economic Indicators Comparison

Taiwan with a GDP of $585.8B ranked the 21st largest economy in the world, while the Philippines ranked 40th with $330.9B. By GDP 5-years average growth and GDP per capita, Taiwan and the Philippines ranked 115th vs 21st and 38th vs 134th, respectively.

Gross Domestic Product & Income

Stat	Philippines	Taiwan
GDP	$330.9B	$585.8B
GDP growth, 1 year	6.2%	2.6%
GDP growth, 5-years average	6.4%	2.4%
Population	104.9M	23.6M
GDP per capita	$3.1k	$25k
GDP per capita growth	4.77%	N/A
Purchasing Power Parity conversion factor	18.25	N/A
Price level ratio of PPP conversion factor GDP to market exchange rate	0.35	N/A
GDP per capita, PPP adjusted	$8.9k	$53k
GNI, Atlas method	$408.8B	N/A
GNI per capita	$3.8k	N/A
GNI, PPP adjusted	$1.1T	N/A
GNI per capita, PPP adjusted	$11k	N/A

Financial system and Human development

Stat	Philippines	Taiwan
Income Tax Rate	35%	45%
Corporate Tax Rate	30%	20%
Inflation, consumer prices	5.2%	1.5%
Inflation, GDP deflator	3.8%	N/A
Unemployment	2.5%	3.7%
Economic Freedom Index	64.5	77.1
Personal Freedom Index	7.06	8.09
Human Freedom Index	6.92	7.79
Property Rights Index	54.6	86.9
Judical Effectiveness Index	34.2	70.1
Business Freedom Index	59.5	93.9
Fiscal Health Index	96.3	91
Labor Freedom Index	57.4	60.3
Investment Freedom Index	60	60
Financial Freedom Index	60	60
Trade Freedom Index	81.6	86
Monetary Freedom Index	66.9	82.7
Government Spending Index	87.9	90.5
Tax Burden Index	76.7	75
Government Integrity Index	38.7	68.9
Corruption Perceptions Index	36	63
Life expectancy at birth, years	71	80.2
Suicide mortality rate, per 100,000 people	3.2	12.5
Mortality caused by road traffic injury, per 100,000 people	12.3	6.3
Intentional homicides, per 100,000 people	8.4	0.8
International tourism, number of arrivals	7.2M	N/A

Government debt & reserves

Stat	Philippines	Taiwan
Central government debt, % of GDP	39.6%	35%
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%	N/A
Gross savings, % of GDP	42.4%	N/A
Gross capital formation, % of GDP	26.9%	N/A
Total reserves including gold	$79.2B	N/A
Foreign direct investment net inflows	$9.8B	N/A

Exports, imports and economic structure

Stat	Philippines	Taiwan
Exports of goods and services, % of GDP	31.7%	N/A
Imports of goods and services, % of GDP	44.4%	N/A
Current account balance (balance of payments)	-$8.7B	N/A
Revenue excluding grants, % of GDP	16.3%	N/A
Grants excluding technical cooperation, BoP	$436.5M	N/A
Personal remittances received	$33.8B	N/A
Industry including construction value added, % of GDP	30.7%	N/A
Agriculture, forestry and fishing value added, % of GDP	9.3%	N/A
Charges for the use of intellectual property, payments BoP	$917M	N/A
Charges for the use of intellectual property, receipts BoP	$44.1M	N/A
Expense, % of GDP	14.9%	N/A
Government Expenditure, % of GDP	20.1%	17.8%