Philippines

Continent

Asia

Capital

Manila

Population

118,277,063

Sub-Zones

General Information

Basic details about Philippines

Population:: 118,277,063
Area:: 300,000 sq km
Currency:: Philippine pesos
Languages:: Tagalog 39.9, Bisaya/Binisaya 16, Hiligaynon/Ilonggo 7.3, Ilocano 7.1, Cebuano 6.5, Bikol/Bicol 3.9, Waray 2.6, Kapampangan 2.4, Maguindanao 1.4, Pangasinan/Panggalato 1.3

Economic Overview

Key economic indicators for Philippines

GDP:: $1.138 trillion
GDP per Capita:: $9,900
GDP Growth:: 5.55%
Inflation:: 5.98%
Unemployment:: 2.23%
Public Debt:: 39.9% of GDP
Credit Rating:: BBB+ (2019)

Political System

Governance structure of Philippines

Government Type:: presidential republic
Head of State:: President Ferdinand "BongBong" MARCOS, Jr. (since 30 June 2022)
Head of Government:: President Ferdinand "BongBong" MARCOS, Jr. (since 30 June 2022)
Judiciary:: Supreme Court (consists of a chief justice and 14 associate justices)
Administrative Divisions:: 81 provinces and 38 chartered cities

Major Political Parties

Not specified

International Relations

Global position and alliances

UN Member:: Yes
EU Member:: No
Diplomatic Presence:: 1600 Massachusetts Avenue NW, Washington, DC 20036

Major Alliances and Organizations

ASEAN

Economic Sectors & Trade

Detailed economic breakdown

Major Economic Sectors

Agriculture

9.4% (2023 est.)

Industry

28.2% (2023 est.)

Services

62.4% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

Trade Volume

Exports:: $103.714 billion
Imports:: $150.914 billion

Major Trading Partners

China 19

USA 13

Hong Kong 12

Japan 11

Germany 5

Economic Outlook

Philippines has a 5.55% GDP growth rate with 5.98% inflation. The economy is characterized by a strong agriculture sector.