Philippine Economic Growth

PalawOne Serial expat

745POSTS

3 years ago

"Philippines Economic Growth 1960-2022"

"GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates."

Philippines economic growth for 2021 was $394.09B, a 8.94% increase from 2020.

Philippines economic growth for 2020 was $361.75B, a 4% decline from 2019.

Philippines economic growth for 2019 was $376.82B, a 8.64% increase from 2018.

Philippines economic growth for 2018 was $346.84B, a 5.59% increase from 2017.

etc

Reference:

Similar Country Ranking

Country聽 Billions of $US

India $3,173.40B

Indonesia聽聽 $1,186.09B

Nigeria聽聽聽聽 $440.78B

Bangladesh聽聽 $416.26B

Egypt聽聽聽聽 $404.14B

Philippines聽聽 $394.09B

Vietnam聽聽 $362.64B

Pakistan聽聽 $346.34B

Ukraine聽聽聽聽 $200.09B

Morocco聽聽 $132.73B

Kenya聽聽聽聽 $110.35B

Sri Lanka聽聽 $84.52B

Ghana聽聽聽聽 $77.59B

Angola聽聽聽聽 $72.55B

Uzbekistan聽聽 $69.24B

Myanmar聽聽 $65.07B

Tunisia聽聽聽聽 $46.84B

Cameroon聽聽 $45.24B

Bolivia聽聽聽聽 $40.41B

Sudan聽聽聽聽 $34.33B

El Salvador聽聽 $28.74B

Honduras聽聽 $28.49B

Cambodia聽聽 $26.96B

Papua N.G.聽聽 $26.59B

Zambia聽聽聽聽 $21.20B

Lao PDR聽聽 $18.83B

Georgia聽聽聽聽 $18.70B

West Bank Gaza$18.04B

Mongolia聽聽 $15.10B

Nicaragua聽聽 $14.01B

Moldova聽聽 $13.68B

Republic Congo聽聽 $12.52B

Kosovo聽聽聽聽 $9.01B

Kyrgyz Republic聽聽 $8.54B

Mauritania聽聽 $8.23B

Eswatini聽聽 $4.94B

Djibouti聽聽 $3.37B

Lesotho聽聽 $2.52B

Timor-Leste聽聽 $1.96B

Cabo Verde聽聽 $1.94B

Solomon Island聽聽 $1.65B

Vanuatu聽聽 $0.98B

Sao Tome 聽聽 $0.55B

Micronesia聽聽 $0.40B

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The Philippines expat guide

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coach53 ViP

1564POSTS

3 years ago

Covid hit harder against poor countries by they have less for backup,

but I had checked the developmemt before , I believe it was back from 2004,聽 and SE Asia had developed MUCH better than USA and EU, and managed the crisis 2008 much better too.

Stock markets are SUPPOUSED to be a messure too聽聽

聽聽 but isnt anymore by there are to many stupids investing in "western" countries ONLY based on TA, which is basicly showing what other stuipids do, NOT thinking anything of how much the companies are worth!!!聽 This make bubbles very easy - and can become over reactions in market falls too...聽

E g as at the over reactions down in rather many companies at the IT-bubbl枚e burst 2000.聽 It was rather easy to earn good by buying close to bottom when that fall had ended, using FA聽 =The REAL value of companies divided by amount of shares.

The Philippine stock market is problematic to make FA at thpugh by - if it hasnt changed since back when I checked聽聽- companies dont need to tell how many shares they have and they can even "print" more shares without telling!!!

IF being an investor mainly being interested in geting low tax dividends, it can perhaps be interesting to buy same shares as the most rich Filipiinos have.聽聽(Often they lead these companies.) BUT there is a risk iif such companies start geting bad results in reality*聽 then its risk "owner family" support buy to keep the share price high to "save face" but it isnt sure they will continue doing that.

Phils politics are led by these around top 10 richest families** and they have made laws making it much better in tax point of view to live of dividends than high salary...

*Results can be changed rather much legaly聽 - and even more illegal/grey zone聽聽

聽聽-聽 although if havbing the knowledge and check, then such can be seen, but many "a bit FA-investors" look ONLY at the Result line.

(Before TA investots started dominating, back when this "a bit FA" investors dominated, it was possible to earn much by reading the company reports proper and by that find winner shares a bit BEFORE the "market" understood...)

** An article some yearts ago said the richest families had over 80 % of the votes at national level; By that they have 100 % of the power concerning laws...

coach53 ViP

1564POSTS

3 years ago

Vietnam. This country leap frogs the Philippines on this basis. Its economy is more open and generally better run than the Philippines. Frankly I can only see this gap increasing over the years unless a Philippine President can instigate root and branch economic reforms. Even if he (and it is a he) has the guts, nous and gumption to do this (he hasn't) he then has to overcome the protection racket called the Philippine Congress.
- @Lotus Eater

It can be enough with

1. They stop messing up聽聽

E g a business can need FORTY permits before start earning!!!聽 In Sweden its TWO for same type of business...

And its much to slow to get permits, even when its obvious to aprove.聽 We started over a year ago, have got 5 permits but not yet the last needed to be allowed to start working. I mean working with other than geting registration and permits聽聽

2. I understand Phils want to protect so much LAND dont get bought up by foreigners.

BUT its ridicilous to not let foreigners own and have majority power in BUSINESSES if foreigners put in majority/whole capital.聽 (Except its allowed in "export" businesses.) By not allowing majority power, foreigners dont have power to stop stupid decisions by foreigners have max 40 % votes in boards and it ISNT allowed to have a foreigner as CEO...

But the much worse ridicilous is its not allowed to make businesses where foreigner knowledge dominates!!!

This law need to be CHANGED.

(It took me YEARS to find any Filipinio - except a very few allready working in the few correct handled such businesses in Phils - with enough knowledge so the missing parts I add arent dominating... And luckily same tribe Filipino knew allready rather much about the second business we are starting now.)

Phils is realy short of business knowledge, which can be seen at how many business are realy screwed up e g by relatives when OFWs finance business starts.聽 And by so few Filipinos can count (percent)聽 and have basic business knowledge - showed e g by copying to close to origion -聽 it isnt odd businesses mostly fail or get very bad results as it is now...

I suppouse there are many (retired age) foreigners living in Phils with knowledge - and financial capacity - to improve the Philippine economy much if above are changed...

- - -

There is even a law NOT allowing organicing聽 - nor promote (only comersial?) -聽 trying to make single foreiign businessmen interested in Filipina women to try to make these foreigners marry and impove Phils businesses!!!聽

聽聽It can even become JAIL!!!聽 It has to do with "the Anti-Trafficing law" is made so extreem wide so it can be seen as including such too!!!聽聽 But as for some other laws too, its fuzzy whats allowed.聽 It was anyway for me to SKIP that idea to try to assist Phils geting more jobs.

(I dont know if it was the whole story but an Australian (or New Zealander?) got in big trouble just because of assisting a Filipina to get work in his home country. Thats why I suppouse some OFW agencies are located abroad - officialy聽聽

manwonder ViP

1904POSTS

3 years ago

I suppouse there are many (retired age) foreigners living in Phils with knowledge - and financial capacity - to improve the Philippine economy much if above are changed...
- @coach53

There could have been....but I think most of them have given up hope!

coach53 ViP

1564POSTS

3 years ago

I suppouse there are many (retired age) foreigners living in Phils with knowledge - and financial capacity - to improve the Philippine economy much if above are changed...
- @coach53

There could have been....but I think most of them have given up hope!
- @manwonder

Yes. I ment IF the things I wrote would be changed.聽

(And if they have problem to find good staff, then they can establish at Palawan and hire tribe聽

聽聽as I do.聽聽I mean if its tasks they can - or not to hard to learn fast.)

manwonder ViP

1904POSTS

3 years ago

he then has to overcome the protection racket called the Philippine Congress.
- @Lotus Eater

Less than a month in office, Marcos has already vetoed five bills ratified by both houses of Congress.

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coach53 ViP

1564POSTS

3 years ago

Less than a month in office, Marcos has already vetoed five bills ratified by both houses of Congress.

- @manwonder

Its good bad bills are stoped

but I wonder if they have decided any GOOD bills as e g changing the law I wrote about聽

聽 which dont allow businesses to be dominated by foreigner knowledge!

An other interesting thing is IF these vetoed bills all came from opponent political side

and if so, IF bad bills from own political side have been vetoed too聽聽

Lotus Eater ViP

1986POSTS

3 years ago

he then has to overcome the protection racket called the Philippine Congress.
- @Lotus Eater
Less than a month in office, Marcos has already vetoed five bills ratified by both houses of Congress.

- @manwonder

Plus Ca Change

2 members reacted to this post