Philippines

Country Summary

Introduction

Background

The Philippine Islands became a Spanish colony during the 16th century and were ceded to the US in 1898 following the Spanish-American War. In 1935, the Philippines became a self-governing commonwealth. Following Japanese occupation during World War II, the Republic of the Philippines attained its independence on 4 July 1946.

Geography

Area

total: 300,000 sq km
land: 298,170 sq km
water: 1,830 sq km

Climate

tropical marine; northeast monsoon (November to April); southwest monsoon (May to October)

Natural resources

timber, petroleum, nickel, cobalt, silver, gold, salt, copper

People and Society

Population

116,434,200 (2023 est.)

Ethnic groups

Tagalog 26%, Bisaya/Binisaya 14.3%, Ilocano 8%, Cebuano 8%, Illonggo 7.9%, Bikol/Bicol 6.5%, Waray 3.8%, Kapampangan 3%, Maguindanao 1.9%, Pangasinan 1.9%, other local ethnicities 18.5%, foreign ethnicities 0.2% (2020 est.)

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%, other languages/dialects 11.2%, unspecified 0.4% (2020 est.)

Religions

Roman Catholic 78.8%, Muslim 6.4%, Iglesia ni Cristo 2.6%, other Christian 3.9%, other 8.2%, none/unspecified <0.1 (2020 est.)

Population growth rate

1.58% (2023 est.)

Government

Government type

presidential republic

Capital

name: Manila

Executive branch

chief of state: President Ferdinand "BongBong" MARCOS, Jr. (since 30 June 2022); Vice President Sara DUTERTE-Carpio (since 30 June 2022); note - the president is both chief of state and head of government
head of government: President Ferdinand "BongBong" MARCOS, Jr. (since 30 June 2022); Vice President Sara DUTERTE-Carpio (since 30 June 2022)

Legislative branch

description: bicameral Congress or Kongreso consists of:
Senate or Senado (24 seats; members directly elected in multi-seat constituencies by majority vote; members serve 6-year terms with one-half of the membership renewed every 3 years)
House of Representatives or Kapulungan Ng Mga Kinatawan (316 seats; 253 members directly elected in single-seat constituencies by simple majority vote and 63 representing minorities directly elected by party-list proportional representation vote; members serve 3-year terms)

Economy

Economic overview

growing Southeast Asian economy; commercial rebound led by transportation, construction and financial services; electronics exports recovering from sector slowdown; significant remittances; interest rate rises following heightened inflation; uncertainties due to increased regional tensions with China 

Real GDP (purchasing power parity)

$991.72 billion (2022 est.)
$921.927 billion (2021 est.)
$872.09 billion (2020 est.)

Real GDP per capita

$8,600 (2022 est.)
$8,100 (2021 est.)
$7,800 (2020 est.)

Agricultural products

sugar cane, rice, coconuts, eggs, maize, bananas, vegetables, tropical fruit, plantains, pineapples

Industries

semiconductors and electronics assembly, business process outsourcing, food and beverage manufacturing, construction, electric/gas/water supply, chemical products, radio/television/communications equipment and apparatus, petroleum and fuel, textile and garments, non-metallic minerals, basic metal industries, transport equipment

Exports

$98.853 billion (2022 est.)
$87.798 billion (2021 est.)
$80.034 billion (2020 est.)

Exports - partners

United States 14%, China 14%, Hong Kong 12%, Japan 10%, Singapore 6% (2022)

Exports - commodities

integrated circuits, office machinery/parts, gold, semiconductors, insulated wiring (2022)

Imports

$152.656 billion (2022 est.)
$126.565 billion (2021 est.)
$99.943 billion (2020 est.)

Imports - partners

China 33%, Indonesia 8%, South Korea 7%, Japan 7%, Singapore 6% (2022)

Imports - commodities

integrated circuits, refined petroleum, coal, cars, crude petroleum (2022)

Exchange rates

Philippine pesos (PHP) per US dollar -
Exchange rates:
54.478 (2022 est.)
49.255 (2021 est.)
49.624 (2020 est.)
51.796 (2019 est.)
52.661 (2018 est.)


Page last updated: Tuesday, April 09, 2024