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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
The Philippine peso has since traded versus the U.S. dollar in a range of ₱24–46 from 1993 to 1999, ₱40–56 from 2000 to 2009, and ₱40–54 from 2010 to 2019. The previous 1903–1934 definition of a peso as 12.9 grains of 0.9 gold (or 0.0241875 XAU) is now worth ₱2,266.03 based on gold prices as of November 2021.
The Bangko Sentral ng Pilipinas ( lit. 'Central Bank of the Philippines'; commonly abbreviated as BSP in both Filipino and English) is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 as amended by Republic Act 11211 or the New Central ...
Demography of the Philippines records the human population, including its population density, ethnicity, education level, health, economic status, religious affiliations, and other aspects. The Philippines annualized population growth rate between the years 2015–2020 was 1.53%. [6] According to the 2020 census, the population of the ...
The Philippines is a megadiverse country, with some of the world's highest rates of discovery and endemism (67 percent). [234] [235] With an estimated 13,500 plant species in the country (3,500 of which are endemic), [236] Philippine rain forests have an array of flora: [237] [238] about 3,500 species of trees, [239] 8,000 flowering plant ...
In 2021, official government statistics reported that the Philippines had a poverty rate of 18.1%, [1] (or roughly 19.99 million Filipinos), significantly lower than the 49.2 percent recorded in 1985 through years of government poverty reduction efforts. [2] From 2018 to 2021, an estimated 2.3 million Filipinos fell into poverty amid the ...
The COVID-19 vaccination program in the Philippines was a mass immunization campaign against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes coronavirus disease 2019 (COVID-19), in response to the pandemic in the country. The vaccination program was initiated by the Duterte administration on March 1, 2021, a ...
An exchange rate between two currencies fluctuates over time. The value of a currency relative to a third currency may be obtained by dividing one U.S. dollar rate by another. For example, if there are ¥120 to the dollar and €1.2 to the dollar then the number of yen per euro is 120/1.2 = 100.
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