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AuthorMessagePosted on
emille The Philippines
Good day.

I was confounded with the WEO April 2008 report regarding the Philippines' gross domestic product (GDP) based on purchasing-power-parity (PPP). It seems that several data, starting from the 1980's, were completely revised. When compared to the WEO October 2007 data, drastic reductions were made in the country's GDP based on PPP (valuation of country GDP and per capita GDP), e.g. WEO Oct 2007 report showed a $5,365.287 per capita GDP based on PPP for 2006, whereas in the WEO Apr 2008, it was only $3,126.211. Could you tell me the reason for these revisions? Thank you very much.

Hoping for your kind reply,
8/18/2008 5:23:19 AM
WEOModerator Re : The Philippines
Thank you for your question.

The WEO revised its PPP-estimates in January 2008 to coincide with the release of new PPP exchange rates by the International Comparison Program or ICP on December 2007. The revision of the exchange rates implied a marked reduction in the PPP rates of emerging markets, including the Philippines. Please see the January 2008 IMF Survery article "Global Growth Estimates Trimmed After PPP Revisions" for more information.

Hope this helps,
8/18/2008 12:56:00 PM