Table of Contents
What is the total GDP of the Philippines in 2020?
361.49 billion U.S. dollars
The Philippines has a steadily growing economy, with a gross domestic product (GDP) that reached over 361.49 billion U.S. dollars in 2020.
What is the GDP per capita of the Philippines 2021?
3160.00 USD
GDP per capita in Philippines is expected to reach 3160.00 USD by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines GDP per capita is projected to trend around 3300.00 USD in 2022, according to our econometric models.
What is the per capita of the Philippines?
The statistic shows gross domestic product (GDP) per capita in the Philippines from 1986 to 2020, with projections up until 2026. GDP is the total value of all goods and services produced in a country in a year….
| Characteristic | GDP per capita in U.S. dollars |
|---|---|
| 2020 | 3,322.51 |
| 2019 | 3,511.87 |
| 2018 | 3,279.52 |
| 2017 | 3,153.31 |
What makes up the Philippine GDP?
GDP Composition The composition of the gross domestic product (GDP) is broadly split among the agricultural, industrial, and service sectors. In 2018, agriculture accounted for 9.3\% of GDP, marking the lowest contribution to GDP in the country’s history.
What is the implication of GDP per capita to the Philippines?
It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. In 2020, the GDP per capita in the Philippines amounted to around 3,322.51 U.S. dollars.
What is the GDP per capita income of Philippines?
Economy of the Philippines
| Statistics | |
|---|---|
| GDP per capita | $3,646 (nominal, 2021 est.) $9,247 (PPP, 2021 est.) |
| GDP per capita rank | 114th (nominal, 2019) 113th (PPP, 2019) |
| GDP by sector | Agriculture: 7.4\% Industry: 34\% Services: 58.6\% (2018) |
| Inflation (CPI) | 4.5\% (April 2021 est.) |
What is the greatest effect that globalization has contributed to the Philippines?
Evidence suggests that globalisation has a positive effect on the country’s economic growth and employment. In particular, trade openness and foreign portfolio flows have contributed to higher per capita GDP growth in the Philippines, following the implementation of FX liberalisation reforms.
What is the state of Philippine development based on GDP per capita?
It is currently one of Asia’s fastest growing economies….Economy of the Philippines.
| Statistics | |
|---|---|
| GDP rank | 34th (nominal, 2021) 27th (PPP, 2021) |
| GDP growth | 6.3\% (2018) 6.0\% (2019) -9.5\% (2020) 7.1\% (2021) |
| GDP per capita | $3,646 (nominal, 2021 est.) $9,247 (PPP, 2021 est.) |
| GDP per capita rank | 114th (nominal, 2019) 113th (PPP, 2019) |
Will Vietnam’s GDP growth rate continue to grow in 2020?
The International Monetary Fund (IMF) has revised down its forecast for Vietnam’s GDP growth to 1.6\% in 2020 from a previous estimate of 2.7\% in June. Vietnam, however, remains the only country among major economies in ASEAN – 5 (Thailand, Malaysia, Indonesia, the Philippines, and Vietnam) expected to deliver positive growth this year.
Can Vietnam’s per capita GDP overtake Philippines’ under current prices?
Backed by sustained economic growth, Vietnam’s per capita gross domestic product would hit $3,497.51 to overtake the Philippines’ $3,372.53 under current prices, latest projections from the International Monetary Fund (IMF) showed. GDP per capita divides the value of economic output with the population.
Will Filipinos’ income catch up with Vietnam’s in the next 5 years?
Worse, if IMF estimates are to be believed, Filipinos’ income is unlikely to catch up with that of the Vietnamese in the next 5 years. By 2025, Manila’s $4,805.84 per head is seen lagging behind Hanoi’s $5,211.90. This, in turn, may reflect serious consequences on poverty levels, which government had said may rise because of the crisis.
How has Vietnam’s economy coped with covid-19?
Downtown Hanoi, Vietnam: the country has been successful in containing both COVID-19 and its detrimental economic effects. (photo: Minh Luu & AA+Photography by Unsplash) Despite the challenges of the COVID-19 pandemic, Vietnam’s economy has remained…