The economic outlook for the Philippines is booming, with consumption and investments up. An uptick in foreign remittances has fueled high domestic demand, even with a somewhat weaker peso at the start of the year. Experts expect more growth for this Southeast Asian country.
Gross domestic product (GDP)
$304.905 billion (2017)
Top 5 Imports
Top 5 exports
Top 3 Trading Partners
GDP growth rate (est.)
6.922% in 2016
6.923% in 2017
Trends and outlooks
Stable economy and banking systems
Low dependence on exports
Alleviated domestic debt due to improved tax administration
Accelerated economic growth
High unemployment and underemployment
Restrictions on foreign ownership, including land
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