Philippines Country profile

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January 2018

The Philippines was the 37th largest economy in 2017, and the 3rd largest economy in ASEAN after Indonesia and Thailand. Economic growth in the Philippines has averaged above 6% p.a since 2010, cementing it as one of Asia’s fastest growing economies. The Philippines is projected to be the globe’s 16th largest economy by 2050.  It outperforms on measures of creditworthiness and economic growth, but it still lags other emerging Asian economies on measures of per capita income and business climate.

Figure
This chart is a cobweb diagram showing how a country measures up on four important dimensions of economic performance — per capita income, annual GDP growth, business climate and creditworthiness. Per capita income is in current US dollars for 2018 as provided by the IMF. Annual GDP growth is for 2018. Business climate is measured by the World Bank’s Ease of Doing Business ranking of 190 countries. Creditworthiness attempts to measure a country's ability to honour its external debt obligations and is measured by its OECD country credit risk rating. The chart shows not only how a country performs on the four dimensions, but how it measures up against other comparable countries.