Economy of The Philippines - Macroeconomic Trends

Macroeconomic Trends

See also: Economy of Asia, Economic history of the Philippines (1973–1986), Post-EDSA macroeconomic history of the Philippines, and Economic Crisis and Response in the Philippines

The Philippine economy has been growing steadily over decades and the International Monetary Fund in 2011 reported it as the 45th largest economy in the world. However its growth has been behind that of many of its Asian neighbors, the so-called Asian Tigers, nor is it a part of the Group of 20 nations. Instead it is often grouped in a second tier of emerging markets or of newly industrialized countries. Depending upon the analyst, this second tier can go by the name the Next Eleven or the Tiger Cub Economies.

It has not suffered from the downturn in the world economy that began in 2007.

A chart of selected statistics showing trends in the gross domestic product of the Philippines using data taken from the International Monetary Fund.

Year GDP growth in percent
(constant prices, base year = 2000)
GDP
in PHP Billion
(current prices)
GDP
in USD Billion
(current prices)
GDP per capita
in USD
(current prices)
GDP
in USD Billion
(PPP)
GDP per capita
in USD
(PPP)
Peso vs Dollar
Exchange Rate
1980 5.15 270.1 35.9 744 64.4 1334 7.51
1981 3.42 312.0 39.5 797 72.9 1471 7.90
1982 3.62 351.4 41.1 810 80.1 1578 8.54
1983 1.88 408.9 36.8 707 84.9 1630 11.11
1984 -7.32 581.1 34.8 652 81.6 1530 16.70
1985 -7.31 633.6 34.1 623 77.9 1426 18.61
1986 3.42 674.6 33.1 591 82.4 1471 20.39
1987 4.31 756.5 36.8 641 88.4 1540 20.57
1988 6.75 885.5 42.0 715 97.6 1663 21.09
1989 6.21 1025.3 47.3 786 107.6 1791 21.70
1990 3.04 1190.5 48.9 796 115.2 1873 24.33
1991 -0.58 1379.9 50.2 797 118.6 1882 27.48
1992 0.34 1497.5 58.7 912 121.8 1891 25.51
1993 2.12 1633.6 60.2 914 127.1 1929 27.12
1994 4.39 1875.7 71.0 1052 135.5 2007 26.42
1995 4.68 2111.7 83.7 1224 144.8 2118 25.24
1996 5.85 2406.4 93.5 1336 156.1 2232 24.74
1997 5.19 2688.7 92.8 1297 167.1 2336 28.98
1998 -0.58 2952.8 73.8 1009 168.1 2297 40.02
1999 3.08 3244.2 83.0 1110 175.8 2352 39.09
2000 4.41 3580.7 81.0 1053 187.5 2437 44.19
2001 2.89 3888.8 76.3 971 197.3 2511 50.99
2002 3.65 4198.3 81.4 1014 207.8 2591 51.60
2003 4.97 4548.1 83.9 1025 222.7 2720 54.20
2004 6.70 5120.4 91.4 1093 242.7 2905 56.04
2005 4.78 5677.8 103.1 1209 261.0 3061 55.09
2006 5.24 6271.2 122.2 1405 283.5 3260 51.31
2007 6.62 6892.7 149.4 1684 311.1 3507 46.15
2008 4.15 7720.9 173.6 1919 331.2 3661 44.47
2009 1.15 8026.1 168.5 1827 338.5 3670 47.64
2010 7.63 9003.5 199.6 2123 368.5 3920 45.11
2011 3.72 9734.8 224.75 2345 391.1 4080 43.31

GDP growth at constant 1985 prices in Philippine pesos:

Year 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979
GDP growth % 4.6 4.9 4.8 9.2 5 6.4 8 5.6 5.2 5.6
Year 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
GDP growth % 5.149 3.423 3.619 1.875 -7.324 -7.307 3.417 4.312 6.753 6.205
Year 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
GDP growth % 3.037 -0.578 0.338 2.116 4.388 4.679 5.846 5.185 -0.577 3.082
Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
GDP growth % 4.411 2.894 3.646 4.970 6.698 4.778 5.243 7.117 4.153 1.148 7.632 3.718

Read more about this topic:  Economy Of The Philippines

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