Philippines
Description of Philippines
As a geopolitical and macroeconomic analyst, it is crucial to recognize the significance of the Philippines in the Southeast Asian region. The Philippines, with its rapidly growing population, diverse economy, and strategic geographic location, plays a vital role in the dynamics of the Asia-Pacific region. Understanding the macroeconomic statistics and geopolitical trends of the Philippines is essential for comprehending its potential for economic development, trade partnerships, and geopolitical influence in the region.
Population And Age Structure
Philippines has a total population of 112,190,977, which is significantly higher (ranked 13 out of 194 countries) than the average global population of 40,097,746. The country's population ages 0-14, totaling 34,713,208, is notably above the average, ranking 12 out of 194 countries.
With 63.84% of its population falling within the age range of 15-64, Philippines is slightly above the global average of 63.44%. This places the country at rank 110 out of 194 countries. On the other hand, the population ages 65 and above accounts for 5.22% of the total population, which is below the average of 9.22%. The country ranks 116 out of 194 countries for this metric.
In terms of the total population ages 15-64, which stands at 71,618,946, the Philippines surpasses the average of 26,003,407, ranking 12 out of 194 countries. Similarly, the total population ages 65 and above, totaling 5,858,823, exceeds the average of 3,766,959 and places the country at rank 25 out of 194 countries.
Summary
The Philippines has a significantly larger total population and a higher percentage of individuals aged 0-14 compared to the global average. While the country's working-age population (15-64 years) is slightly above the global average, the percentage of population aged 65 and above is below average. These demographic indicators are crucial for policymakers and businesses as they impact workforce dynamics, social welfare programs, healthcare services, and overall economic development planning in the country.
Population Miscellaneous
- The rural population of the Philippines is significantly above the global average, with a value of
59,003,479, ranking 10th out of 190 countries in the dataset.
- The percentage of rural population in the Philippines is higher than the average at 52.592%, placing the
country at the 62nd rank out of 190 countries.
- The urban population of the Philippines stands at 53,187,498, well above the average, ranking 17th out
of 194 countries.
- The Philippines has a lower urban population percentage of 47.408% compared to the global average,
placing it at the 133rd rank out of 194 countries.
- With an age dependency ratio of 56.65%, the Philippines is below the average, ranking 85th out of 194
countries.
- The crude birth rate in the Philippines is 22.039 per 1,000 people, above the average, ranking 70th out
of 192 countries.
- The crude death rate in the Philippines is below the average at 5.566 per 1,000 people, placing the
country at the 168th rank out of 192 countries.
- The total fertility rate in the Philippines is slightly higher than the average at 2.777 births per
woman, ranking 70th out of 190 countries.
Summary
The analysis reveals that the Philippines has a significantly high rural population and urban population compared to global averages, ranking 10th and 17th respectively. However, the country has a lower urban population percentage and a below-average age dependency ratio. The crude birth rate is above average while the crude death rate is below average. These indicators are crucial for policymakers and investors as they provide insights into the country's demographic distribution, potential workforce, healthcare needs, and overall population trends, aiding in strategic planning and decision-making processes.
Military
Philippines' military expenditure in current USD is $4.69 billion, which is below the average of $12.90 billion. The country ranks 40th out of 149 countries in this attribute data.
Philippines' military expenditure as a percentage of GDP is 1.30%, lower than the average of 1.90%. The country is ranked 98th out of 148 countries in this aspect.
Philippines' arms imports amount to $348 million, higher than the average of $205.52 million. The country ranks 17th out of 113 countries in this category.
The total number of armed forces personnel in Philippines is 157,000, slightly below the average of 165,908. The country holds the 40th rank out of 164 countries regarding this attribute.
In terms of armed forces personnel as a percentage of the total labor force, Philippines stands at 0.37%, significantly lower than the average of 1.28%. The country is ranked 133rd out of 164 countries in this dataset.
Summary
In summary, the Philippines' military expenditure in current USD, as a percentage of GDP, arms imports, total armed forces personnel, and armed forces personnel as a percentage of the total labor force all fall below global averages. This indicates that the Philippines has a relatively smaller military budget and presence compared to other countries worldwide. These statistics are crucial as they highlight the country's prioritization of resources, potential vulnerabilities in defense capabilities, and its position relative to other nations in terms of military strength and expenditure.
Natural Resources
Philippines has a forest area of 71,885.9 sq. km, ranking 62nd out of 191 countries. This is below the global average of 211,606.1 sq. km.
The land area of Philippines is 298,170 sq. km, ranking 71st out of 194 countries, below the average land area of 665,166.5 sq. km.
With a surface area of 300,000 sq. km, Philippines ranks 72nd out of 194 countries, falling below the average surface area of 689,779.6 sq. km.
Philippines has 5,590,000 hectares of arable land, ranking 44th out of 190 countries, lower than the average of 7,329,543.2 hectares.
Land under cereal production in Philippines is 7,272,792 hectares, placing it 26th out of 174 countries, above the average land under cereal production of 4,206,011.6 hectares.
Philippines receives an average annual precipitation depth of 2,348 mm, ranking 17th out of 178 countries, higher than the global average of 1,157.8 mm.
The country has a total renewable internal freshwater resources of 479 billion cubic meters, ranking 17th out of 178 countries, significantly above the average of 240.4 billion cubic meters.
Summary
Philippines demonstrates a notable position in various key macroeconomic indicators. With lower-than-average forest area, land area, and surface area, the country excels in arable land availability and land under cereal production, showcasing agricultural potential. Additionally, Philippines boasts above-average precipitation levels and abundant internal freshwater resources, highlighting favorable conditions for agriculture and water security.
These statistics are crucial in assessing Philippines' agricultural capacity, potential for food production, and water sustainability. They indicate the country's resilience to climate-related challenges, showcasing opportunities for agricultural development and efficient water resource management to support economic growth and food security.
Resource Rents
Total natural resources rents (% of GDP): The Philippines has a value of 0.76% which is below the average of 4.63%. This places the Philippines at rank 110 out of 175 countries in the dataset.
Coal rents (% of GDP): With a value of 0.05%, the Philippines is below the average of 0.40%. This ranks the Philippines at 29 out of 65 countries in the dataset.
Forest rents (% of GDP): The Philippines' value of 0.19% is below the average of 1.53%. This ranks the Philippines at 98 out of 174 countries in the dataset.
Oil rents (% of GDP): The Philippines has a value of 0.01%, significantly lower than the average of 2.51%. This places the Philippines at rank 91 out of 117 countries.
Natural gas rents (% of GDP): With a value of 0.12%, the Philippines is below the average of 1.25%. This ranks the Philippines at 49 out of 96 countries in the dataset.
Mineral rents (% of GDP): The Philippines' value of 0.40% is below the average of 1.23%. This places the Philippines at rank 38 out of 86 countries in the dataset.
Summary
The Philippines exhibits below-average percentages for key natural resource rents such as total natural resources, coal, forest, oil, natural gas, and mineral rents compared to a global dataset. These figures indicate that the country may not be fully maximizing its natural resource potential for economic gain when compared to other nations. This could suggest a need for policy changes or strategies to better leverage and manage the country's natural resources to boost economic development and competitiveness on the global stage.
Commodities
Philippines' cereal production of 27,413,962.2 metric tons is above the average of 17,249,945.93 metric tons, ranking 22nd out of 174 countries in the dataset.
Aquaculture production in Philippines is 2,322,831.42 metric tons, significantly higher than the average of 679,642.92 metric tons. This places Philippines 7th out of 180 countries.
With a capture fisheries production of 1,914,854.37 metric tons, Philippines exceeds the average of 467,453.06 metric tons, securing the 13th rank out of 190 countries.
Philippines' total fisheries production stands at 4,237,685.79 metric tons, well above the average of 1,153,914.85 metric tons. This places Philippines at the 10th position out of 182 countries.
In terms of fertilizer consumption, Philippines utilizes 209.17 kilograms per hectare of arable land, surpassing the average of 159.04 kilograms. The country ranks 39th out of 187 countries in this aspect.
Summary
Philippines demonstrates strong agricultural productivity with above-average cereal, aquaculture, and fisheries production. Additionally, the country's fertilizer consumption per hectare of arable land exceeds the global average. These indicators are crucial as they highlight Philippines' potential for self-sustainability in food production and its commitment to maximizing agricultural output through efficient fertilizer use, contributing significantly to the country's economy and food security.
Intellectual Property
Industrial design applications, nonresident, by count: The Philippines' value of 628 is notably below the average of 1415.83, ranking 36th out of 112 countries in the dataset.
Industrial design applications, resident, by count: The Philippines' value of 665 falls far below the average of 9799.58, ranking 35th out of 113 countries.
Patent applications, nonresidents: The Philippines' 3517 applications are below the average of 6538.40, placing the country at the 21st position out of 129 countries.
Patent applications, residents: With 476 applications, the Philippines is well below the average of 19037.56, ranking 44th out of 117 countries.
Trademark applications, nonresident, by count: The Philippines' 25768 applications surpass the average of 15878.93, ranking 22nd out of 130 countries.
Trademark applications, resident, by count: The Philippines' 30935 applications are significantly below the average of 111055.78, placing the country 28th out of 129 nations.
Scientific and technical journal articles: The Philippines' 3071.81 articles are lower than the average of 15103.76, leading to a rank of 62nd out of 192 countries.
Charges for the use of intellectual property, payments (BoP, current US$): The Philippines' payment of 519,252,390.14 USD is well below the average of 3,218,843,494.39 USD, placing the country at the 45th position out of 143 nations.
Charges for the use of intellectual property, receipts (BoP, current US$): The Philippines' receipt of 15,258,017.75 USD is significantly lower than the average of 3,191,687,117.58 USD, leading to a rank of 62nd out of 122 countries.
Summary
The Philippines ranks below average in most key macroeconomic indicators related to industrial design applications, patent applications, trademark applications, scientific and technical journal articles, and charges for the use of intellectual property. This suggests a relatively lower level of innovation and intellectual property activity compared to the average among the listed countries. These indicators are crucial as they reflect a country's competitiveness, ability to innovate, protect intellectual property rights, and engage in knowledge creation and exchange globally, all of which are essential for long-term economic growth and development.
Broad Economy Attributes
- The GDP (current US$) of the Philippines is $361.75 billion, which is below the average of $442.87
billion. The country ranks 33rd out of 189 countries in this metric.
- The GDP, PPP (current international $) of the Philippines is $920.94 billion, above the average of
$734.14 billion. The Philippines ranks 29th out of 181 countries.
- The GDP per capita (current US$) in the Philippines is $3224.42, significantly below the average of
$15462.11. The country ranks 128th out of 190 countries in this measure.
- The GDP per capita, PPP (current international $) of the Philippines is $8208.67, also below the average
of $21251.89. The country is ranked 115th out of 181 countries.
- The GNI (current US$) of the Philippines is $389.17 billion, below the average of $452.04 billion. The
country is ranked 29th out of 185 countries.
- The GNI, PPP (current international $) of the Philippines is $990.73 billion, well above the average of
$730.70 billion. The Philippines ranks 28th out of 181 countries.
- The GNI per capita, PPP (current international $) in the Philippines is $8830, lower than the average of
$20615.75. The country ranks 112th out of 181 countries in this regard.
Summary
The Philippines demonstrates mixed performance across key macroeconomic indicators. While the country's GDP and GNI metrics are below average, its GDP per capita and GNI per capita figures are significantly lower than the global average. This suggests that the overall economic output in the Philippines is lagging behind compared to many other countries, which could indicate potential challenges in achieving sustainable economic growth and development.
Broad Value Added
In terms of Agriculture, forestry, and fishing as a percentage of GDP, the Philippines' value is 10.19%, slightly below the average of 10.86%. This places the Philippines at rank 72 out of 182 countries included in the data.
When it comes to Agriculture, forestry, and fishing value added in current US dollars, the Philippines' value is $36,845,479,325.21, significantly above the average of $19,924,732,828.07. This places the Philippines at rank 19 out of 182 countries.
For Services value added as a percentage of GDP, the Philippines' value is 61.41%, which is above the average of 56.72%. This places the Philippines at rank 60 out of 183 countries.
Regarding Services value added in current US dollars, the Philippines' value is $222,168,638,961.20, below the average of $295,837,711,130.69. This places the Philippines at rank 30 out of 183 countries.
In the Industry sector, including construction, value added in current US dollars, the Philippines' value is $102,737,027,171.24, below the average of $118,421,095,413.50. This places the Philippines at rank 32 out of 183 countries.
Summary
The Philippines ranks relatively high in Agriculture, forestry, and fishing value added in current US dollars, placing 19th out of 182 countries. This indicates a significant contribution of these sectors to the country's economy. However, in terms of Services value added in US dollars, the country falls below the average, suggesting potential for growth and development in this area. The lower ranking in Industry sector value added signifies room for improvement and investment to boost industrial output and competitiveness.
Manufacturing Value Added
Philippines' manufacturing value added in current US dollars is 12.3 billion below the average, ranking 31 out of 173 countries. Manufacturing value added as a percentage of GDP is 5.76% above the average, positioning Philippines at rank 32 out of 173 countries. The country excels in medium and high-tech manufacturing, surpassing the average by 17.08%, ranking 26 out of 149 countries.
Philippines performs well in the chemicals sector, with a value added percentage in manufacturing 2.28% above the average, ranking 25 out of 89 countries. In food, beverages, and tobacco manufacturing, Philippines exceeds the average by 9.58%, securing rank 20 out of 92 countries. Machinery and transport equipment manufacturing also stands strong at 9.36% above the average, ranking 22 out of 93 countries.
However, in textiles and clothing manufacturing, Philippines falls below the average by 4.57%, ranking 68 out of 93 countries. Finally, in other manufacturing sectors, the country is below average by 18.03%, positioning at rank 87 out of 94 countries.
Summary
The Philippines demonstrates strengths in various manufacturing sectors such as medium and high-tech manufacturing, chemicals, food, beverages, and tobacco manufacturing, as well as machinery and transport equipment manufacturing. However, there are areas of concern in textiles and clothing manufacturing and other miscellaneous manufacturing sectors where the country falls below the average. These findings are important as they provide insights into the diversification and competitiveness of the Philippines' manufacturing industry, highlighting areas for potential improvement and growth to enhance overall economic development and international competitiveness.
Money
• Inflation, consumer prices (annual %): The Philippines has a consumer price inflation rate of 2.39%, below the average of 8.26%. This places the Philippines at rank 79 out of 165 countries included in the data.
• Inflation, GDP deflator (annual %): The Philippines' GDP deflator inflation rate stands at 1.65%, lower than the average of 6.90%. The country is ranked 104 out of 188 nations in this indicator.
• Broad money growth (annual %): With a growth rate of 8.66%, the Philippines lags behind the average of 18.03%. This places the country at rank 105 out of 139 countries in the dataset.
• Broad money (% of GDP): The Philippines has a broad money to GDP ratio of 90.49%, higher than the average of 71.75%. This places the country at rank 39 out of 139 countries included in the analysis.
• Broad money to total reserves ratio: The Philippines' ratio is 2.98%, below the average of 5.17%. This places the country at rank 56 out of 126 nations in this metric.
Summary
The Philippines has a mixed economic performance in key macroeconomic indicators. While it demonstrates relatively low consumer price inflation and GDP deflator inflation rates, its broad money growth rate and broad money to GDP ratio are below the global averages. These indicators suggest that the Philippines may be facing challenges in stimulating economic activity and maintaining optimal levels of money supply within its economy, which are crucial for sustainable growth and stability.
Consumption Expenditure
Final consumption expenditure (current US$): The Philippines' value for final consumption expenditure is $326.77 billion, which is below the average of $381.63 billion. The Philippines ranks 26th out of 159 countries in this attribute data.
Final consumption expenditure (% of GDP): The Philippines' value for final consumption expenditure as a percentage of GDP is 90.33%, above the average of 82.37%. The country ranks 42nd out of 159 countries in this attribute data.
General government final consumption expenditure (current US$): The Philippines' value for general government final consumption expenditure is $55.21 billion, below the average of $93.68 billion. The country ranks 32nd out of 158 countries in this attribute data.
General government final consumption expenditure (% of GDP): The Philippines' value for general government final consumption expenditure as a percentage of GDP is 15.26%, below the average of 18.71%. The country ranks 101st out of 158 countries in this attribute data.
Household and NPISHs Final consumption expenditure (current US$): The Philippines' value for household and NPISHs final consumption expenditure is $271.56 billion, below the average of $290.13 billion. The country ranks 23rd out of 158 countries in this attribute data.
Households and NPISHs final consumption expenditure (% of GDP): The Philippines' value for household and NPISHs final consumption expenditure as a percentage of GDP is 75.07%, above the average of 63.68%. The country ranks 37th out of 158 countries in this attribute data.
Summary
The Philippines exhibits a lower final consumption expenditure than the global average, ranking 26th in absolute terms and 42nd in terms of percentage of GDP. The country also has lower general government final consumption expenditure and household final consumption expenditure compared to the average values. Despite these rankings, the Philippines maintains a higher percentage of household final consumption expenditure as a share of GDP than the global average, indicating a relatively higher consumption propensity among households.
These findings are crucial as they provide insights into the spending patterns within the Philippines, highlighting areas where the country may be under or overperforming compared to global averages. Understanding these metrics can inform policymakers on where to focus their efforts to drive economic growth, whether through boosting overall consumption expenditure, enhancing government spending efficiency, or supporting household consumption for sustained development.
Equities
In terms of "Listed domestic companies, total", the Philippines has 268 companies, which is below the average of 636.625 companies. This places the Philippines at rank 24 out of 72 countries.
Regarding "Stocks traded, total value (current US$)", the Philippines has a value of $32,738,060,000, significantly below the average of $1,379,501,850,000. This ranks the Philippines at 27 out of 71 countries.
For "Stocks traded, total value (% of GDP)", the Philippines stands at 9.05%, lower than the average of 31.65%. This places the Philippines at rank 29 out of 71 countries.
Concerning "Market capitalization of listed domestic companies (current US$)", the Philippines has a market capitalization of $272,790,290,000, notably under the average of $1,196,037,851,618.88. This ranks the Philippines at 23 out of 73 countries.
As for "Market capitalization of listed domestic companies (% of GDP)", the Philippines' market capitalization is 75.41% of its GDP, slightly above the average of 71.24%. This places the Philippines at rank 21 out of 73 countries.
Regarding "S&P Global Equity Indices (annual % change)", the Philippines experienced a -3.34% change, below the average of 2.06%. This ranks the Philippines at 42 out of 79 countries.
Summary
The Philippines lags behind the global average in key macroeconomic indicators such as the number of listed domestic companies, total stock value, and market capitalization. This indicates potential areas for growth and development in the country's financial markets to align more closely with global standards and increase investment opportunities for domestic and international investors.
Investment
Foreign direct investment, net (BoP, current US$): The Philippines' value is significantly below the average, with a difference of approximately $1.64 billion. The country ranks 137th out of 169 countries in this attribute data.
Foreign direct investment, net inflows (BoP, current US$): The Philippines' value exceeds the average by around $1.07 billion. With a rank of 30 out of 182 countries, the Philippines performs relatively well in this aspect.
Foreign direct investment, net inflows (% of GDP): The Philippines falls below the average by 0.72%. This places the country at the 85th position out of 178 countries in the dataset.
Foreign direct investment, net outflows (BoP, current US$): The Philippines' outflow value is notably lower than the average by approximately $2.15 billion. Ranking 29th out of 156 countries, the country has a significant presence in this area.
Foreign direct investment, net outflows (% of GDP): The Philippines' outflows as a percentage of GDP are slightly under the average by 0.02%. With a rank of 31 out of 155 countries, the country's outward investment is relatively moderate.
Portfolio Investment, net (BoP, current US$): The Philippines' net portfolio investment value is well below the average, with a substantial difference of approximately $2.36 billion. The country ranks 130th out of 159 countries in this dataset.
Portfolio investment, bonds (PPG + PNG) (NFL, current US$): The Philippines' bond investment value is significantly higher than the average by around $2.90 billion, positioning the country at 6th out of 59 countries.
Portfolio equity, net inflows (BoP, current US$): The Philippines' net equity inflows are notably below the average by a significant margin of approximately $11.74 billion. The country ranks 109th out of 125 countries in this aspect.
Summary
The Philippines performs relatively well in attracting foreign direct investment, with net inflows exceeding the average. However, the country lags behind in portfolio investment, both in terms of net portfolio investment and net equity inflows. These findings are crucial as they indicate the Philippines' ability to attract long-term investment for economic development but also highlight potential areas for improvement in attracting diversified investments for sustained growth.
Debt
- The Total debt service (% of GNI) for the Philippines is 2.39%, which is below the average of 5.98%. The
country ranks 85 out of 120 countries in this statistic.
- The Public and publicly guaranteed debt service (% of GNI) is 1.45% for the Philippines, lower than the
average of 2.84%. The country holds the 76th position out of 120 countries.
- Philippines' External debt stocks (% of GNI) stands at 25.31%, below the average of 65.42%. The country
is ranked 102 out of 120 countries in this aspect.
- The Debt service on external debt, total (TDS, current US$) for the Philippines is $9.29 billion,
slightly below the average of $9.81 billion. The country ranks 20 out of 123 countries.
- Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) is $5.65 billion
for the Philippines, higher than the average of $3.31 billion. The country holds the 16th position out of
123 countries.
- The External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) for the Philippines
amount to $56.50 billion, exceeding the average of $28.70 billion. The country ranks 15 out of 123
countries.
- Philippines' External debt stocks, private nonguaranteed (PNG) (DOD, current US$) is $26.58 billion,
below the average of $33.73 billion. The country is ranked 20 out of 91 countries.
- The External debt stocks, total (DOD, current US$) for the Philippines stand at $98.49 billion, above
the average of $73.85 billion. The country ranks 20 out of 123 countries.
Summary
The Philippines maintains a relatively low level of debt service compared to the global average, ranking favorably in several debt service categories. However, the country's external debt stocks, particularly in public and publicly guaranteed debt, are higher than average. It is critical for the Philippines to manage its debt effectively to ensure sustainable economic growth and avoid potential financial vulnerabilities.
Broad Trade Attributes
Trade (% of GDP): The Philippines has a trade value of 58.17% of its GDP, which is below the average of 82.34%. This ranks the Philippines 105th out of 163 countries in the dataset.
Merchandise trade (% of GDP): The Philippines' merchandise trade value stands at 42.74% of GDP, below the average of 60.01%. This places the country 120th out of 186 countries in the dataset.
Trade in services (% of GDP): The Philippines' trade in services is at 13.76% of GDP, lower than the average of 24.63%. The country ranks 94th out of 171 countries in the dataset.
External balance on goods and services (current US$): The Philippines has a negative balance of -28.09 billion US$ on goods and services, significantly below the average of 3.41 billion US$. The country ranks 160th out of 163 countries in the dataset.
External balance on goods and services (% of GDP): The Philippines shows an external balance value of -7.76% of GDP, below the average of -5.97%. This places the country 106th out of 163 countries in the dataset.
Summary
The Philippines exhibits a trade deficit as indicated by its negative external balance on goods and services, ranking poorly at 160th out of 163 countries in the dataset. Additionally, the country's trade, both in merchandise and services, lags behind the global average, placing it at 120th and 94th positions respectively. These statistics are crucial as they highlight the country's reliance on imports, potential vulnerability to external shocks, and the need to focus on strengthening its export capabilities to improve its economic stability and competitiveness in the global market.
Net Trade
1. Current account balance (BoP, current US$): The Philippines has a current account balance of $11,578,388,370.89, which is significantly above the average of $1,443,864,831.49. The country ranks 21st out of 170 countries in this attribute.
2. Current account balance (% of GDP): The Philippines' current account balance is 3.20% of its GDP, which is higher than the average of -2.36%. The country holds the 37th position out of 170 countries.
3. Net trade in goods and services (BoP, current US$): The Philippines has a net trade deficit of $19,908,904,994.25, much lower than the average of $2,604,730,003.57. The country ranks 164th out of 171 countries in this aspect.
4. Net primary income (BoP, current US$): The Philippines' net primary income is $4,101,428,652.05, notably higher than the average of -$903,807,529.74. The country is ranked 16th out of 170 countries.
5. Net secondary income (BoP, current US$): The Philippines has a net secondary income of $27,385,864,713.09, significantly higher than the average of -$269,227,340.40. The country ranks 5th out of 170 countries.
6. Net trade in goods (BoP, current US$): The Philippines has a net trade deficit of $33,775,273,827.31, well below the average of $1,302,831,005.68. The country ranks 166th out of 171 countries.
7. Net capital account (BoP, current US$): The Philippines' net capital account is $63,222,186.95, below the average of $136,543,824.05. The country ranks 80th out of 159 countries.
8. Net financial account (BoP, current US$): The Philippines' net financial account is $9,116,029,384.35, significantly higher than the average of -$469,840,994.63. The country holds the 19th position out of 170 countries.
Summary
The Philippines has a strong current account balance, net primary income, net secondary income, and net financial account, placing it above average and in respectable global rankings. However, the country faces challenges in net trade in goods and services, with deficits in both categories. These indicators are critical as they reflect the country's economic health, competitiveness in trade, and ability to attract financial investments.
Broad Export Attributes
1. Exports of goods, services and primary income (BoP, current US$): The Philippines' value of $91.6 billion is below the average of $146.2 billion. The country is ranked 41st out of 170 countries in this attribute data.
2. Exports of goods and services (BoP, current US$): The Philippines' value of $80.0 billion is below the average of $122.9 billion. The country is ranked 41st out of 170 countries in this attribute data.
3. Exports of goods and services (current US$): The Philippines' value of $91.2 billion is below the average of $129.6 billion. The country is ranked 40th out of 163 countries in this attribute data.
4. Exports of goods and services (% of GDP): The Philippines' value of 25.20% is below the average of 38.19%. The country is ranked 103rd out of 163 countries in this attribute data.
5. Goods exports (BoP, current US$): The Philippines' value of $48.2 billion is below the average of $93.3 billion. The country is ranked 43rd out of 171 countries in this attribute data.
6. International tourism, receipts (% of total exports): The Philippines' value of 3.46% is below the average of 9.74%. The country is ranked 60th out of 120 countries in this attribute data.
7. ICT goods exports (% of total goods exports): The Philippines' value of 50.86% is above the average of 3.81%. The country is ranked 1st out of 142 countries in this attribute data.
Summary
The Philippines has lower values in various export categories compared to global averages, positioning it below average in terms of export performance among countries analyzed. Particularly notable is the country's high ranking in ICT goods exports as a percentage of total goods exports, indicating a specialization in this sector. These findings are crucial as they highlight both the Philippines' dependence on certain export sectors and its competitive advantage in ICT goods, emphasizing areas for potential economic growth and diversification.
Merchandise Exports
- Merchandise exports (current US$): The Philippines' merchandise exports amount to $63,879,000,000,
ranking 40th out of 187 countries. This is below the average of $89,542,711,229.95.
- Agricultural raw materials exports (% of merchandise exports): The Philippines' agricultural raw
materials exports account for 1.15% of its merchandise exports, ranking 75th out of 151 countries. This is
also below the average of 2.97%.
- Food exports (% of merchandise exports): The Philippines' food exports constitute 9.32% of its
merchandise exports, placing it at 107th out of 152 countries. This is below the average of 24.06%.
- Fuel exports (% of merchandise exports): The Philippines' fuel exports represent 1.09% of its
merchandise exports, ranking 107th out of 147 countries. This is significantly below the average of
13.70%.
- Ores and metals exports (% of merchandise exports): The Philippines' ores and metals exports make up
6.60% of its merchandise exports, ranking 44th out of 152 countries. This is below the average of 9.10%.
- Merchandise exports by the reporting economy, residual (% of total merchandise exports): The
Philippines' residual merchandise exports stand at 0.02% of its total merchandise exports, placing it at
130th out of 166 countries. This is considerably below the average of 3.20%.
Summary
The Philippines exhibits below-average performance in key macroeconomic indicators related to merchandise exports, particularly in agricultural raw materials, food, fuel, ores and metals, and residual categories. These figures underscore the country's limited diversification in exports and reliance on certain sectors. This concentration can pose risks to the economy, as it may be susceptible to fluctuations in global commodity prices and demand. Diversifying export sectors can help enhance resilience and stability in the face of external economic shocks.
Technology Exports
Manufactures exports (% of merchandise exports): In the Philippines, the value for this attribute is 79.81%, which is significantly higher than the average of 42.62%. The country ranks 21st out of 152 countries included in the data.
High-technology exports (current US$): The Philippines' value for this attribute is 34,896,245,637 USD, which is notably higher than the average of 16,655,934,078.80 USD. The country holds the 16th rank out of 151 countries.
High-technology exports (% of manufactured exports): The Philippines excels in this attribute with a value of 67.04%, far exceeding the average of 10.15%. The country clinches the top rank out of 150 countries included in the data.
Medium and high-tech exports (% manufactured exports): The Philippines performs well in this aspect with a value of 81.18%, well above the average of 34.29%. The country ranks 2nd out of 149 countries in this category.
Summary
The Philippines demonstrates a strong presence in manufacturing and exports, particularly in high-technology products. With above-average values in high-technology exports, high-technology exports as a percentage of manufactured exports, and medium and high-tech exports as a percentage of manufactured exports, the country showcases a competitive edge in producing and exporting advanced goods. These indicators are crucial as they signify the country's capability to engage in high value-added industries, enhance technological capabilities, and potentially drive economic growth and development.
Service Exports
Service exports in the Philippines amount to $31,822,200,319.50, ranking 27th out of 171 countries. This value is higher than the average service exports of $28,917,292,503.82.
ICT service exports in the Philippines total $5,929,697,458.30, ranking 25th out of 166 countries. This value exceeds the average ICT service exports of $4,578,501,153.77.
ICT service exports account for 18.63% of service exports in the Philippines, ranking 29th out of 166 countries. This percentage is higher than the average of 11.75%.
Communications, computer, etc. services constitute 88.61% of service exports in the Philippines, ranking 5th out of 169 countries. This percentage far surpasses the average of 45.85%.
Transport services represent 5.24% of service exports in the Philippines, ranking 146th out of 169 countries. This percentage is below the average of 21.80%.
Travel services make up 5.63% of service exports in the Philippines, ranking 138th out of 167 countries. This percentage falls below the average of 26.40%.
Insurance and financial services account for 0.52% of service exports in the Philippines, ranking 146th out of 161 countries. This percentage is lower than the average of 6.46%.
Summary
In summary, the Philippines demonstrates strength in ICT service exports, specifically in communications, computer, etc. services, which make up a significant portion of its total service exports. However, the country lags behind in transport services, travel services, and insurance and financial services.
These findings are important as they highlight the Philippines' comparative advantage in the ICT sector, indicating potential for further growth and specialization in this area. The lower performance in other service exports categories suggests room for improvement and diversification to enhance the country's overall service export competitiveness and resilience in the global market.
Commercial Service Exports
Philippines has a Commercial service exports of $31,800,353,958.44, ranking 27th out of 171 countries. This value is above the average of $28,508,218,402.80.
Travel services account for 5.63% of commercial service exports in Philippines, ranking 140th out of 167 countries. This percentage is below the average of 27.89%.
Computer, communications, and other services make up 88.60% of Philippines' commercial service exports, placing it 3rd out of 169 countries. This percentage is significantly above the average of 42.44%.
Insurance and financial services contribute only 0.52% to Philippines' commercial service exports, ranking 147th out of 161 countries. This figure is below the average of 6.97%.
Transport services represent 5.25% of Philippines' commercial service exports, placing it 147th out of 169 countries. This percentage is below the average of 23.37%.
Summary
The analysis of key macroeconomic indicators for the Philippines reveals that the country has a strong emphasis on computer, communications, and other services, comprising 88.60% of its commercial service exports, which is well above the global average. Conversely, travel services and insurance/financial services have lower contributions compared to the average. These findings are crucial as they highlight the Philippines' specialization in certain service sectors, indicating potential areas for growth and development while also underscoring the need for diversification to mitigate risks and enhance resilience in the face of changing market dynamics.
Broad Import Attributes
Imports of goods and services (current US$): The Philippines' value of $119.26 billion is below the average of $126.19 billion. It ranks 36th out of 163 countries.
Imports of goods and services (% of GDP): The Philippines' percentage of 32.97% is below the average of 44.15%. It is ranked 100th out of 163 countries.
International tourism, expenditures (% of total imports): The Philippines' percentage of 4.87% is above the average of 3.98%. It holds the 26th rank out of 131 countries.
ICT goods imports (% total goods imports): The Philippines' percentage of 24.56% is significantly above the average of 6.85%. It ranks 5th out of 143 countries.
Goods imports (BoP, current US$): The Philippines' value of $81.99 billion is below the average of $92.01 billion. It ranks 35th out of 171 countries.
Imports of goods and services (BoP, current US$): The Philippines' value of $99.94 billion is below the average of $120.32 billion. It ranks 36th out of 170 countries.
Imports of goods, services and primary income (BoP, current US$): The Philippines' value of $107.43 billion is below the average of $144.51 billion. It holds the 38th rank out of 170 countries.
Summary
The Philippines has below-average values in various import indicators such as total imports, goods and services imports as a percentage of GDP, and goods imports compared to other countries. However, it stands out in certain areas like ICT goods imports, where it ranks 5th out of 143 countries, and international tourism expenditures, where it holds the 26th rank out of 131 countries. These indicators are important as they provide insights into the country's trade relationships, economic diversification, and potential areas for growth and investment.
Merchandise Imports
Merchandise imports (current US$): The focus country, the Philippines, has a value of $90,751,000,000 for this attribute, which is above the average of $89,385,605,263. The Philippines is ranked 35th out of 190 countries in this data set.
Manufactures imports (% of merchandise imports): The Philippines' value of 74.88% is higher than the average of 66.76%. With a rank of 33 out of 152 countries, the Philippines shows a strong focus on manufactured goods in its imports.
Agricultural raw materials imports (% of merchandise imports): At 0.60%, the Philippines imports a lower percentage compared to the average of 1.27%. This places the Philippines at rank 125 out of 152 countries for this attribute.
Food imports (% of merchandise imports): With a value of 13.79%, the Philippines imports less food compared to the average of 15.89%. The country is ranked 81st out of 152 nations in this category.
Fuel imports (% of merchandise imports): The Philippines' 8.68% for fuel imports is below the average of 11.38%. This places the country at rank 94 out of 152 countries for fuel imports.
Ores and metals imports (% of merchandise imports): The Philippines' focus on ores and metals imports is lower at 1.94% compared to the average of 2.57%. The country ranks 69th out of 152 nations for this attribute.
Merchandise imports by the reporting economy, residual (% of total merchandise imports): The Philippines has a value of 5.07%, higher than the average of 2.51%. This places the Philippines at rank 25 out of 180 countries for this particular attribute.
Summary
The analysis of key macroeconomic indicators for the Philippines reveals that the country has above-average values in merchandise imports, manufactures imports, and merchandise imports by the reporting economy. However, it imports lower percentages of agricultural raw materials, food, fuel, and ores/metals compared to the global averages. These findings are crucial as they highlight the Philippines' reliance on manufactured goods and its strategic emphasis on certain import categories, which can have significant implications for the country's industrial and economic development.
Service Imports
Service imports in the Philippines amount to $17.96 billion, ranking 40th out of 171 countries. This value is below the attribute average of $27.62 billion.
Communications, computer, etc. account for 43.11% of the Philippines' service imports, ranking 95th out of 169 countries. This percentage is slightly below the attribute average of 44.40%.
Transport services constitute 23.36% of the Philippines' service imports, placing it at 112th out of 169 countries. This percentage is notably below the attribute average of 32.90%.
Travel services make up 22.77% of the Philippines' service imports, ranking 30th out of 169 countries. This percentage is significantly above the attribute average of 14.14%.
Insurance and financial services represent 10.76% of the Philippines' service imports, placing it at 44th out of 169 countries. This percentage is higher than the attribute average of 8.53%.
Summary
The Philippines has a total service import value of $17.96 billion, ranking 40th globally. The country's service import composition shows a significant reliance on travel services compared to the global average, while being below average in communications, computer services, and transport. This mix indicates a strong emphasis on tourism-related services, which could impact the country's overall economic growth and sectoral development strategies.
Commercial Service Imports
The Philippines' Commercial service imports amount to $17,552,795,140.09, which is below the attribute average of $27,102,746,128.60. The country ranks 39 out of 171 countries in this category.
Computer, communications and other services represent 41.81% of the Philippines' commercial service imports, slightly above the average of 41.71%. The country is ranked 90 out of 169 countries in this aspect.
Insurance and financial services constitute 11.01% of the Philippines' commercial service imports, surpassing the average of 8.85%. The Philippines is ranked 45 out of 169 countries in this category.
Transport services make up 23.89% of the Philippines' commercial service imports, falling below the average of 34.71%. The country's rank in this area is 110 out of 169 countries.
Travel services contribute 23.29% to the Philippines' commercial service imports, significantly higher than the average of 14.73%. The country ranks 33 out of 169 countries for this attribute.
Summary
The Philippines has a diverse composition of commercial service imports, with a significant emphasis on computer, communications, and other services. While the country falls below the global average in transport services, it excels in travel services, indicating a strong tourism sector. These indicators are important as they reflect the country's trade priorities, economic strengths, and potential areas for growth and investment.
Infrastructure
Philippines' air transport freight of 360.41 million ton-km is below the average of 1384.37 million ton-km, ranking 37 out of 126 countries. For air transport, registered carrier departures worldwide, the country's value of 88,024 is lower than the average of 134,365, placing it at rank 34 out of 149 countries. In terms of air transport passengers carried, Philippines' 10,613,531 falls under the average of 11,848,243, positioning it at rank 30 out of 149 countries. Additionally, in container port traffic (TEU: 20-foot equivalent units), the country's 7,865,103 is above the average of 6,907,110, ranking 22 out of 110 countries.
Summary
In summary, the Philippines performs below the global average in air transport freight, registered carrier departures, and air transport passengers carried, but excels in container port traffic. These indicators are crucial as they reflect the country's connectivity, both in terms of physical goods movement and people mobility, and highlight areas where improvement may be needed to enhance competitiveness and integration into the global economy.
Information Technology Infrastructure
• Secure Internet servers: The Philippines has 12,444 secure internet servers, which is significantly below the average of 458,294. The country ranks 69th out of 193 countries in this aspect.
• Secure Internet servers (per 1 million people): With 110.92 secure internet servers per 1 million people, the Philippines falls far below the average of 14,067. The country is ranked 131st out of 193 countries.
• Individuals using the Internet (% of population): The Philippines has 47.11% of its population using the internet, below the average of 64.77%. The country ranks 132nd out of 180 countries.
• Fixed broadband subscriptions: The country boasts 7,936,574 fixed broadband subscriptions, surpassing the average of 6,591,956. The Philippines ranks 25th out of 185 countries.
• Mobile cellular subscriptions: The Philippines has 149,579,406 mobile cellular subscriptions, significantly higher than the average of 42,526,464. The country ranks 11th out of 193 countries.
Summary
The Philippines lags behind global averages in terms of secure internet servers, secure internet servers per 1 million people, and individuals using the internet. However, the country excels in fixed broadband subscriptions and mobile cellular subscriptions, ranking above the global averages. These indicators are crucial as they reflect the country's connectivity infrastructure and digital adoption rates, which are essential for economic development, innovation, and competitiveness in the global market.
Energy Consumption
Regarding renewable energy consumption, the Philippines has a value of 29.06%, which is below the attribute average of 32.18%. This places the Philippines at rank 82 out of 191 countries in the dataset.
Concerning CO2 emissions, the Philippines emits 133,471.3 kt, which is lower than the attribute average of 171,895.94 kt. This positions the Philippines at rank 33 out of 188 countries in the dataset.
Summary
The Philippines has a lower than average renewable energy consumption at 29.06% and emits less CO2 compared to the global average, with 133,471.3 kt of CO2 emissions. Despite ranking 82nd in renewable energy consumption and 33rd in CO2 emissions out of the total countries surveyed, the country demonstrates a commitment to sustainability and environmental conservation, which is crucial in addressing climate change and promoting a greener future.
Government Balance Sheet
1. Net acquisition of financial assets (% of GDP): The Philippines has a value of 4.10%, which is above the average of 2.45%. This places the Philippines at rank 18 out of 87 countries included in the data.
2. Net incurrence of liabilities, total (% of GDP): The Philippines has a value of 11.55%, exceeding the average of 7.43%. This places the Philippines at rank 17 out of 92 countries.
3. Total reserves (% of total external debt): The Philippines holds reserves equivalent to 111.67% of total external debt, far above the average of 66.13%. This places the Philippines at rank 15 out of 102 countries.
4. Reserves and related items (BoP, current US$): The Philippines has reserves and related items amounting to $16,022,409,729.24, significantly exceeding the average of $1,924,407,186.58. This places the Philippines at rank 10 out of 171 countries.
5. Total reserves minus gold (current US$): The Philippines has reserves excluding gold of $98,512,083,712.24, higher than the average of $74,221,588,171.61. This places the Philippines at rank 20 out of 161 countries.
6. Total reserves (includes gold, current US$): The Philippines has total reserves including gold worth $109,990,274,218.87, surpassing the average of $85,708,019,773.47. This places the Philippines at rank 21 out of 161 countries.
7. Total reserves in months of imports: The Philippines' reserves are equivalent to 12.29 months of imports, above the average of 7.10 months. This places the Philippines at rank 21 out of 151 countries.
Summary
The Philippines demonstrates strong financial resilience and prudence based on key macroeconomic indicators. It maintains a high level of reserves relative to its external debt, boasting a position above average in various global rankings. These indicators are crucial as they signify the country's ability to weather economic shocks, honor its financial obligations, and maintain stability in international trade and finance.
Government Revenue
Philippines' revenue, excluding grants (% of GDP) is 15.91%, which is below the average of 27.02%. The country is ranked 99 out of 122 countries.
Grants and other revenue (% of revenue) in Philippines stand at 12.29%, lower than the average of 23.54%. The country is ranked 75 out of 108 countries.
Philippines' taxes on goods and services (% of revenue) is 27.16%, slightly below the average of 31.82%. The country ranks 87 out of 122 countries.
For taxes on international trade (% of revenue), Philippines' value is 18.83%, significantly above the average of 6.24%. The country is ranked 8 out of 101 countries.
Other taxes (% of revenue) in Philippines are at 5.10%, higher than the average of 2.12%. The country is ranked 9 out of 106 countries.
Regarding taxes on income, profits, and capital gains (% of revenue), Philippines' value is 36.61%, above the average of 24.66%. The country ranks 19 out of 119 countries.
Summary
The Philippines has a mixed performance in key macroeconomic revenue indicators compared to global averages, ranking differently across various categories. The country falls below average in revenue, grants, taxes on goods and services, and taxes on income, profits, and capital gains, but exceeds the average in taxes on international trade and other taxes. These statistics are crucial as they provide insights into the country's fiscal health, its reliance on different revenue sources, and its competitiveness in international trade.
Taxes
1. Tax revenue (% of GDP): The Philippines' tax revenue accounts for 13.95% of its GDP, which is below the average of 16.72%. This places the Philippines at rank 80 out of 123 countries in the dataset.
2. Customs and other import duties (% of tax revenue): The Philippines' ratio of 21.47% is significantly higher than the average of 9.01%. This places the country at an impressive rank of 12 out of 99 countries in the dataset.
3. Taxes on income, profits, and capital gains (% of total taxes): The Philippines' percentage stands at 41.75%, slightly above the average of 38.40%. This puts the Philippines at rank 43 out of 120 countries.
4. Tariff rate, applied, weighted mean, all products (%): The Philippines' tariff rate of 1.67% is notably lower than the average of 5.21%. This places the country at rank 105 out of 153 countries in the dataset.
Summary
The analysis of key macroeconomic indicators for the Philippines reveals that the country has a lower tax revenue as a percentage of GDP compared to the global average, ranking 80th out of 123 countries. However, it performs well in terms of customs and import duties, placing 12th out of 99 countries. Additionally, the Philippines has a higher proportion of taxes on income, profits, and capital gains compared to the global average, positioning the country at 43rd out of 120 countries. Moreover, the country maintains a low tariff rate on all products, ranking 105th out of 153 countries.
These findings are crucial as they provide insights into the Philippines' fiscal policies, trade relations, and revenue sources. The lower tax revenue as a percentage of GDP may indicate potential challenges in funding government expenditures, while the high customs and import duties ratio could signify a protective approach to domestic industries. The emphasis on income-related taxes suggests a focus on redistributive policies, and the low tariff rate reflects the country's commitment to trade liberalization and competitiveness in the global market.
Government Expenses
Expense (% of GDP): The Philippines has an Expense (% of GDP) of 19.56, which is below the attribute average of 31.69. This places the Philippines at rank 99 out of 123 countries.
Compensation of employees (% of expense): With a value of 33.55, the Philippines exceeds the attribute average of 24.70. This ranks the Philippines at 32 out of 123 countries.
Goods and services expense (% of expense): The Philippines has a value of 25.21, surpassing the attribute average of 14.77. This positions the Philippines at rank 16 out of 122 countries.
Interest payments (% of expense): At 10.83, the Philippines outperforms the attribute average of 6.85. This places the Philippines at rank 25 out of 121 countries.
Other expense (% of expense): The Philippines shows a value of 0.98, which is notably below the attribute average of 8.29. This results in a rank of 111 out of 120 countries.
Subsidies and other transfers (% of expense): The Philippines' value of 29.43 is below the attribute average of 43.29. This places the Philippines at rank 87 out of 121 countries.
Summary
The analysis of key macroeconomic indicators for the Philippines reveals that the country generally demonstrates prudent financial management. It maintains a lower Expense (% of GDP) compared to the attribute average, while allocating a higher percentage towards Compensation of employees and Goods and services expenses. The country also effectively manages its Interest payments and Subsidies, showcasing responsible budget allocation and fiscal discipline. These findings are crucial as they signify the Philippines' ability to efficiently use its resources, prioritize productive expenditures, and manage its financial obligations effectively, which can contribute to long-term economic stability and growth.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Population, total | 13/194 |
| Population ages 0-14, total | 12/194 |
| Population ages 15-64, total | 12/194 |
| Rural population | 10/190 |
| Urban population | 17/194 |
| Average precipitation in depth (mm per year) | 17/178 |
| Renewable internal freshwater resources, total (billion cubic meters) | 17/178 |
| Aquaculture production (metric tons) | 7/180 |
| Capture fisheries production (metric tons) | 13/190 |
| Total fisheries production (metric tons) | 10/182 |
| Net primary income (BoP, current US$) | 16/170 |
| Net secondary income (BoP, current US$) | 5/170 |
| ICT goods exports (% of total goods exports) | 1/142 |
| High-technology exports (% of manufactured exports) | 1/150 |
| Medium and high-tech exports (% manufactured exports) | 2/149 |
| Communications, computer, etc. (% of service exports, BoP) | 5/169 |
| Computer, communications and other services (% of commercial service exports) | 3/169 |
| ICT goods imports (% total goods imports) | 5/143 |
| Mobile cellular subscriptions | 11/193 |
| Reserves and related items (BoP, current US$) | 10/171 |
| Taxes on international trade (% of revenue) | 8/101 |
| Other taxes (% of revenue) | 9/106 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Other manufacturing (% of value added in manufacturing) | 87/94 |
| External balance on goods and services (current US$) | 160/163 |
| Net trade in goods and services (BoP, current US$) | 164/171 |
| Net trade in goods (BoP, current US$) | 166/171 |
| Insurance and financial services (% of service exports, BoP) | 146/161 |
| Insurance and financial services (% of commercial service exports) | 147/161 |
| Other expense (% of expense) | 111/120 |