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 PhilippinesThe 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: Agriculture In The Philippines
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