Philippines

The Philippines edged up 1 place to 34th, between Vietnam and Malaysia. US$ GDP rose 5.5% to US$487.1 billion on real growth of +4.4%, making it the 10th largest of 32 economies in East Asia & Pacific and about the size of Wisconsin.

Services dominate, at 64.4% of output, followed by industry at 27.0% and agriculture at 8.6%; manufacturing contributes 15.3%. Inflation was a mild 1.7%, unemployment 2.2% and government gross debt 59.1% of GDP.

Scale and income diverge sharply. With 116.8 million people, output per person is US$4,171, 132nd of 196, or $12,577 international dollars on a purchasing-power basis, 126th. The economy has grown 5.8x since 2000, when GDP was US$83.7 billion and ranked 45th. The IMF projects US$695.4 billion by 2030, a gain of +43% that would hold the country at 34th among economies with forecasts.