Country profile
Philippines
An electronics assembly and testing base, with semiconductors making up about half of exports, plus nickel ore and coconut oil.
Updated 11 November 2026. Sources at the bottom of the page.
- Capital
- Manila
- Population
- 115.1 million (2026)
- Currency
- Philippine peso (PHP)
- GDP, 2026
- US$502 billion
- Exports, 2025
- US$84.5 billion
- Exchange rate
- 1 USD = 63.3 PHP (11 Nov 2026)
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
3.4%Real GDP growth, 2026
5.1%Real GDP growth, 2027
5.6%Inflation, 2026
5.4%Unemployment, 2026
60.5% of GDPGovernment debt, 2026
-4.8% of GDPCurrent account, 2026
Compare Philippines with other countries →
Trade
Top export markets
Share of the country’s exports, 2025
- United States (16%)
- Hong Kong (14.6%)
- Japan (13.7%)
- China (11%)
- Netherlands (4.3%)
Main exports
Product groups, share of exports
- Electrical machinery and equipment, mainly semiconductors (52.6%)
- Machinery, including computers (8.4%)
- Optical, technical and medical apparatus (4.1%)
- Animal and vegetable oils, mainly coconut oil (3.7%)
- Ores, mainly nickel ore (3.4%)
Main trade agreements
- ASEAN Free Trade Area
- Regional Comprehensive Economic Partnership (RCEP)
- Japan–Philippines Economic Partnership Agreement
- EFTA–Philippines Free Trade Agreement
- Korea–Philippines Free Trade Agreement
Trade policy to watch
- Semiconductors: most chip work is back-end assembly, packaging and testing for global chipmakers.
- Investment incentives: the CREATE MORE Act (2024) extended tax incentives for export manufacturers.
- Nickel: the Philippines is a large supplier of nickel ore, mostly to China.
Energy
Coal produces most of the Philippines' electricity, and power prices are among the highest in Asia. Geothermal, hydro and solar are growing. Most oil and coal is imported.
What it means for your supply chain
- Map which chips and modules in your products are assembled or tested in the Philippines.
- Typhoons can stop factories and ports; ask suppliers about business continuity plans.
- High power costs affect the price of energy-intensive production.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections; updated automatically).
- IMF, World Economic Outlook database: population (2026 estimate).
- Trading Economics, based on UN Comtrade data: export markets and main exports; shares calculated from the listed values.
- European Central Bank, euro foreign exchange reference rates (cross rate via USD; updated daily).
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.