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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. [ 31 ] 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.
2022–2023 Philippine onion crisis. By late 2022, the price of red and white onions in the Philippines increased significantly, [1] reaching an all-time high in December at ₱ 700 per kilogram and leading people to smuggle the commodity into the country. [2][3][4]
2022–2023 Philippine sugar crisis. There has been a noted shortage of supply of sugar in the domestic market of the Philippines after a poor harvest of for the 2021–22 crop year. This led to the price increase of the commodity and there has been suspicions of traders taking advantage of the situation through hoarding and/or smuggling.
Poverty in the Philippines. Share of population in extreme poverty (1981–2019) In 2023, official government statistics reported that the Philippines had a poverty rate of 15.5%, [1][2] (or roughly 17.54 million Filipinos), significantly lower than the 49.2 percent recorded in 1985 through years of government poverty reduction efforts. [3]
The largest projects in the Philippine Economy includes both megaprojects, costing over $1 billion, and other large investment projects, typically costing between $10 million and $1 billion. Projects with investments below $10 million also may be included here, either as parts of larger projects, or in case of major international significance ...
JIM GOMEZ. August 27, 2024 at 12:32 AM. MANILA, Philippines (AP) — The Philippine defense chief said Tuesday that China is “the biggest disruptor” of peace in Southeast Asia and called for ...
The national debt of the Philippines is the total debt, or unpaid borrowed funds, carried by the national government of the Philippines. As of the end of February 2024, the total national debt of the Philippines amounts to ₱15.18 trillion ($269.4 billion).
The shoal, named after a British vessel that got stuck there centuries ago, is located 200 km (124 miles) off the Philippines, inside its exclusive economic zone (EEZ).
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