Macroecon 34, Philippines from 31st to 28th largest economy in the world by 2026

In 2024 the Philippines was the 31st largest economy in the world by GDP size at purchasing power parity (PPP) values. This year, we are projected to overtake Malaysia for the 30th spot and next year we are projected to overtake Argentina and Netherlands for the 28th spot. Data from the IMF World Econ. Outlook 2025 database.

Meanwhile the Philippines remains a consumption-based economy with household consumption comprising 73% of GDP, although this is a reduction already from 78% two decades ago or 2004. Government consumption, national and local, and investment or capital formation saw an increase in share from 2004 to 2024. Data from the PH Statistics Authority (PSA).

GDP by industrial origin, 2004 to 2024, the share of agriculture declined from 15% to 8% of GDP. Industry share is generally flat at 29-31% of GDP while the services sector share has significantly increased from 54% to 63%. Data also from PSA.

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See also:

Macroecon 31, Low oil prices, low inflation, September 05, 2024

Macroeconomic 32, GDP growth in Q1 2025, Germany degrowth, Japan inflation, June 01, 2025

Macroecon 33, Updated DBCC fiscal program, 2025-2028, June 29, 2025