World Economic Outlook Database, April 2012

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       Shaded cells indicate IMF staff estimates
CountrySubject DescriptorSubject NotesUnitsScaleCountry/Series-specific Notes19801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017
PhilippinesGross domestic product, constant pricesExpressed in billions of national currency units; the base year is country-specific. Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]National currencyBillionsSource: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/20122,284.5032,362.7072,448.2212,494.1162,311.4552,142.5662,215.7732,311.3092,467.3812,620.4902,700.0732,684.4582,693.5212,750.5242,871.2063,005.5413,181.2413,346.2003,326.9023,429.4353,580.7143,684.3393,818.6664,008.4694,276.9414,481.2814,716.2315,028.2885,237.1015,297.2405,701.5405,913.5496,160.2016,451.2726,773.8367,112.5287,468.1547,841.562
PhilippinesGross domestic product, constant pricesAnnual percentages of constant price GDP are year-on-year changes; the base year is country-specific . Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]Percent change See notes for: 
Gross domestic product, constant prices (National currency).5.1493.4233.6191.875-7.324-7.3073.4174.3126.7536.2053.037-0.5780.3382.1164.3884.6795.8465.185-0.5773.0824.4112.8943.6464.9706.6984.7785.2436.6174.1531.1487.6323.7184.1714.7255.0005.0005.0005.000
PhilippinesGross domestic product, current pricesExpressed in billions of national currency units . Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]National currencyBillionsSource: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/2012270.062311.995351.417408.920581.100633.620674.618756.471885.4561,025.3491,190.5071,379.8751,497.4641,633.6291,875.6902,111.7052,406.3882,688.7182,952.7623,244.1973,580.7123,888.8014,198.3484,548.1015,120.4365,677.7506,271.1576,892.7217,720.9058,026.1449,003.4799,734.78310,499.63111,449.72312,503.09813,653.38314,909.49416,281.167
PhilippinesGross domestic product, current pricesValues are based upon GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). Exchange rate projections are provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise. Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]U.S. dollarsBillionsSee notes for: 
Gross domestic product, current prices (National currency).35.95439.49541.15036.79734.79934.05233.09336.78041.97547.17148.97150.21658.69560.23771.00382.12191.79291.23472.20782.99581.02376.26281.35883.90891.371103.072122.211149.360173.603168.485199.591213.129227.584242.968260.323279.141299.619321.913
PhilippinesGross domestic product, deflatorThe GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Data are expressed in the base year of each country's national accounts.Index See notes for: 
Gross domestic product, constant prices (National currency)
Gross domestic product, current prices (National currency).11.82213.20514.35416.39525.14029.57330.44632.72935.88639.12844.09251.40255.59559.39365.32870.26075.64380.35188.75494.599100.000105.549109.943113.462119.722126.699132.970137.079147.427151.516157.913164.618170.443177.480184.579191.962199.641207.627
PhilippinesGross domestic product per capita, constant pricesGDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.National currencyUnitsSee notes for: 
Gross domestic product, constant prices (National currency)
Population (Persons).47,278.61547,692.92148,212.31847,908.49243,326.24339,190.89439,567.37240,266.70442,033.74943,602.16143,903.62942,610.44041,824.85241,737.84042,527.84743,934.23845,439.81446,702.02844,264.26344,665.73346,629.95246,880.50647,638.04948,955.41051,184.07152,560.18154,228.25156,682.31357,868.51957,453.79660,648.22961,692.30863,028.15464,735.41566,639.39868,599.38070,617.00972,693.980
PhilippinesGross domestic product per capita, current pricesGDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.National currencyUnitsSee notes for: 
Gross domestic product, current prices (National currency)
Population (Persons).5,589.0426,297.8456,920.3887,854.78410,892.23011,589.89712,046.75713,178.93015,084.43517,060.71119,357.83621,902.77723,252.55024,789.52127,782.41330,868.36334,372.06337,525.72139,286.34942,253.15246,629.92649,482.13552,374.60155,545.93361,278.55466,593.36172,107.12977,699.48185,313.86787,051.45395,771.503101,556.819107,427.071114,892.463123,002.519131,685.050140,980.465150,932.027
PhilippinesGross domestic product per capita, current pricesGDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.U.S. dollarsUnitsSee notes for: 
Gross domestic product, current prices (National currency)
Population (Persons).744.071797.231810.350706.827652.280622.867590.941640.759715.079784.881796.274797.084911.418914.0731,051.6801,200.4291,311.1261,273.325960.7101,080.9471,055.123970.3771,014.9411,024.7701,093.4801,208.9091,405.2061,683.6881,918.2621,827.3832,123.0812,223.4362,328.5262,438.0702,560.9982,692.2822,833.1262,984.242
PhilippinesGross domestic product based on purchasing-power-parity (PPP) valuation of country GDPThese data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. 

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.
 
For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.Current international dollarBillionsSee notes for: 
Gross domestic product, current prices (National currency).64.44272.89480.14084.87181.60977.93782.38188.42797.641107.616115.163118.555121.776127.101135.473144.766156.147167.143168.057175.785187.512197.298207.803222.718242.734260.982283.541311.073331.177338.515368.546390.408411.903437.883466.568497.763531.106568.507
PhilippinesGross domestic product based on purchasing-power-parity (PPP) per capita GDPExpressed in GDP in PPP dollars per person. Data are derived by dividing GDP in PPP dollars by total population. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. 

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.

For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.Current international dollarUnitsSee notes for: 
Gross domestic product, current prices (National currency)
Population (Persons).1,333.6521,471.4161,578.1751,630.2461,529.6991,425.5821,471.0901,540.5441,663.3921,790.6161,872.5761,881.8271,890.9321,928.6942,006.6052,116.1532,230.3552,332.7762,235.9852,289.4652,441.8802,510.4772,592.3482,720.0592,904.9093,061.0183,260.2133,506.6273,659.4123,671.5253,920.2814,072.8794,214.3864,393.9474,589.9904,800.8545,022.0095,270.254
PhilippinesGross domestic product based on purchasing-power-parity (PPP) share of world totalExpressed in percent of world GDP in PPP dollars. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. 

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.

For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.Percent See notes for: 
Gross domestic product, current prices (National currency).0.5690.5760.5940.5900.5210.4650.4650.4680.4790.4910.4900.4770.4370.4370.4420.4470.4560.4600.4470.4450.4430.4460.4500.4560.4610.4600.4600.4660.4730.4830.4940.4950.4980.5020.5050.5080.5100.512
PhilippinesImplied PPP conversion rateExpressed in national currency per current international dollar. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. 

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.

For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.National currency per current international dollar See notes for: 
Gross domestic product, current prices (National currency).4.1914.2804.3854.8187.1218.1308.1898.5559.0689.52810.33811.63912.29712.85313.84514.58715.41116.08617.57018.45519.09619.71020.20420.42121.09521.75522.11722.15823.31423.71024.43024.93525.49126.14826.79827.43028.07328.638
PhilippinesTotal investmentExpressed as a ratio of total investment in current local currency and GDP in current local currency. Investment or gross capital formation is measured by the total value of the gross fixed capital formation and changes in inventories and acquisitions less disposals of valuables for a unit or sector. [SNA 1993]Percent of GDP Source: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/201231.84030.48430.81132.83924.70317.42417.89519.78320.63524.39525.79522.50923.55426.75426.57024.82126.48427.37423.38618.95818.36822.14124.47022.98021.61221.55018.00917.33719.28816.59220.54121.81220.75820.83721.32921.07621.20321.324
PhilippinesGross national savingsExpressed as a ratio of gross national savings in current local currency and GDP in current local currency. Gross national saving is gross disposable income less final consumption expenditure after taking account of an adjustment for pension funds. [SNA 1993] For many countries, the estimates of national saving are built up from national accounts data on gross domestic investment and from balance of payments-based data on net foreign investment.Percent of GDP Source: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/201217.65119.55417.37119.20416.01413.77717.31315.08316.04816.92116.83316.26217.56316.59517.55116.07217.46917.61625.47815.49415.61819.84724.12423.32023.39023.47122.37922.09921.37722.14625.01224.55421.69521.87522.18522.60122.77723.014
PhilippinesInflation, average consumer pricesExpressed in averages for the year, not end-of-period data. A consumer price index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of consumers’ incomes and their welfare. As the prices of different goods and services do not all change at the same rate, a price index can only reflect their average movement. A price index is typically assigned a value of unity, or 100, in some reference period and the values of the index for other periods of time are intended to indicate the average proportionate, or percentage, change in prices from this price reference period. Price indices can also be used to measure differences in price levels between different cities, regions or countries at the same point in time. [CPI Manual 2004, Introduction] For euro countries, consumer prices are calculated based on harmonized prices. For more information see http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-BE-04-001/EN/KS-BE-04-001-EN.PDF.]Index Source: CEIC
Latest actual data: 2011
Harmonized prices: No
Frequency of source data: Monthly
Base year: 2006
Primary domestic currency: Philippine pesos
Data last updated: 03/20129.54910.79911.76812.38618.16722.38522.31222.99125.80328.73532.52938.87142.41545.26249.93053.35157.39060.62866.04270.28872.92777.98680.46183.18087.81194.67299.983102.933111.350116.017120.417126.150130.403135.801141.233146.883152.758158.868
PhilippinesInflation, average consumer pricesAnnual percentages of average consumer prices are year-on-year changes.Percent change See notes for: 
Inflation, average consumer prices (Index).18.20113.0838.9795.25246.67323.215-0.3253.04212.23011.36713.20119.4979.1176.71310.3136.8537.5705.6428.9296.4303.7556.9373.1733.3795.5687.8145.6102.9508.1774.1913.7934.7613.3714.1404.0004.0004.0004.000
PhilippinesInflation, end of period consumer pricesExpressed in end of the period, not annual average data. A consumer price index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of consumers’ incomes and their welfare. As the prices of different goods and services do not all change at the same rate, a price index can only reflect their average movement. A price index is typically assigned a value of unity, or 100, in some reference period and the values of the index for other periods of time are intended to indicate the average proportionate, or percentage, change in prices from this price reference period. Price indices can also be used to measure differences in price levels between different cities, regions or countries at the same point in time. [CPI Manual 2004, Introduction] For euro countries, consumer prices are calculated based on harmonized prices. For more information see http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-BE-04-001/EN/KS-BE-04-001-EN.PDF.Index Source: CEIC
Latest actual data: 2011
Harmonized prices: No
Frequency of source data: Monthly
Base year: 2006
Primary domestic currency: Philippine pesos
Data last updated: 03/20129.58911.15612.05813.64020.57321.73721.66423.19025.40929.28334.60640.54543.77146.85050.81054.91558.50862.24768.91971.41275.51879.33081.23784.38991.28197.807101.200105.000113.100118.200122.500127.600132.938138.256143.786149.537155.519161.740
PhilippinesInflation, end of period consumer prices Annual percentages of end of period consumer prices are year-on-year changes.Percent change See notes for: 
Inflation, end of period consumer prices (Index).15.42916.3378.08513.12650.8265.656-0.3367.0479.56615.24818.17817.1617.9577.0358.4518.0816.5426.39110.7183.6175.7495.0492.4033.8818.1677.1493.4693.7557.7144.5093.6384.1634.1844.0004.0004.0004.0004.000
PhilippinesVolume of imports of goods and servicesPercent change of volume of imports refers to the aggregate change in the quantities of total imports whose characteristics are unchanged. The goods and services and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]Percent change Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)3.723-0.7912.447-3.055-17.477-14.20410.23628.62719.61615.17910.040-1.1188.70311.4939.09510.1488.25513.931-15.21622.054-0.351-7.6786.375-7.300-2.101-1.9741.8382.280-5.382-9.79122.674-4.5094.8225.3485.4845.5325.3735.158
PhilippinesVolume of Imports of goodsPercent change of volume of imports of goods refers to the aggregate change in the quantities of imports of goods whose characteristics are unchanged. The goods and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]Percent change Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)1.594-7.47212.975-2.849-18.085-12.2432.74725.36614.24520.44412.434-5.54418.40027.26817.52014.41918.36020.628-10.10331.192-0.605-8.8797.149-7.927-3.304-2.1101.3600.323-7.543-12.41221.902-7.0374.8705.4505.5635.5925.3255.055
PhilippinesVolume of exports of goods and servicesPercent change of volume of exports refers to the aggregate change in the quantities of total exports whose characteristics are unchanged. The goods and services and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]Percent change Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)15.2879.439-10.5494.4643.839-16.61117.0936.50414.69310.7061.2555.3764.2836.22114.98313.29914.8846.3437.81611.2907.785-13.36812.095-7.5913.3030.23511.9567.779-8.637-8.36127.398-8.7735.1424.9755.3395.4195.1365.149
PhilippinesVolume of exports of goodsPercent change of volume of exports of goods refers to the aggregate change in the quantities of exports of goods whose characteristics are unchanged. The goods and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]Percent change Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)20.6361.0995.606-5.035-2.261-10.441-5.3694.66525.1698.2326.2375.5926.03019.81814.50019.65119.77029.44723.06517.9178.850-13.65512.208-8.1101.808-0.8957.968-0.496-9.515-14.68526.973-14.8864.0733.7834.0424.2263.6773.589
PhilippinesValue of oil importsValue is equal to the price per unit of quantity of oil imports multiplied by the number of quantity units.U.S. dollarsBillionsSource: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)1.8572.0811.7841.7411.4721.2770.7281.0620.9191.3581.8421.7842.0502.0162.0242.4613.0652.9302.0202.4203.8773.3723.2733.7664.7146.2807.9999.59312.3957.3619.58913.47616.13916.76017.10817.67218.55219.763
PhilippinesValue of oil exportsValue is equal to the price per unit of quantity of oil exports multiplied by the number of quantity units.U.S. dollarsBillionsSource: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)0.0420.0890.0640.1420.0930.0390.0630.0880.1620.0950.1550.1750.1500.1360.1320.1710.2720.2580.1290.2160.4360.2420.3530.5330.6670.8891.1321.3581.7541.0421.3571.9072.2842.3722.4212.5012.6262.797
PhilippinesUnemployment rateUnemployment rate can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. The OECD harmonized unemployment rate gives the number of unemployed persons as a percentage of the labor force (the total number of people employed plus unemployed). [OECD Main Economic Indicators, OECD, monthly] As defined by the International Labour Organization, unemployed workers are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work. [ILO, http://www.ilo.org/public/english/bureau/stat/res/index.htm]Percent of total labor force Source: CEIC
Latest actual data: 2011
Employment type: Harmonized ILO definition. Please note that data prior to 2005 are not based on harmonized ILO definition but based on national definition.
Primary domestic currency: Philippine pesos
Data last updated: 03/2012n/an/an/an/an/a11.05811.68211.0629.4029.1298.40010.5009.8009.2759.4759.5258.5258.67510.0509.75011.17511.12511.40011.40011.82511.3507.9507.3257.4007.4757.3257.0257.0257.0257.0257.0257.0257.025
PhilippinesPopulationFor census purposes, the total population of the country consists of all persons falling within the scope of the census. In the broadest sense, the total may comprise either all usual residents of the country or all persons present in the country at the time of the census. [Principles and Recommendations for Population and Housing Censuses, Revision 1, paragraph 2.42]PersonsMillionsSource: CEIC
Latest actual data: 2010
Primary domestic currency: Philippine pesos
Data last updated: 03/201248.32049.54050.78052.06053.35054.67056.00057.40058.70060.10061.50063.00064.40065.90067.51468.41070.01071.65075.16076.78076.79078.59080.16081.88083.56085.26086.97088.71090.50092.20094.01095.85697.73799.656101.649103.682105.756107.871
PhilippinesGeneral government revenueRevenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government’s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.National currencyBillionsSource: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012n/an/an/an/an/an/an/an/an/an/an/an/an/an/a371.804415.435500.170572.815579.648618.017648.382705.172733.098798.261881.7911,012.8221,194.5291,288.4061,441.0361,397.5551,530.1591,682.8061,814.1892,000.6242,195.4462,383.8062,617.9292,860.226
PhilippinesGeneral government revenueRevenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government’s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.Percent of GDP See notes for: 
General government revenue (National currency).n/an/an/an/an/an/an/an/an/an/an/an/an/an/a19.82219.67320.78521.30419.63119.05018.10818.13317.46217.55217.22117.83819.04818.69218.66417.41316.99517.28717.27917.47317.55917.45917.55917.568
PhilippinesGeneral government total expenditureTotal expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.National currencyBillionsSource: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012n/an/an/an/an/an/an/an/an/an/an/an/an/an/a380.398415.784486.845562.635619.508694.594769.431845.789894.366962.9631,031.2341,108.9561,197.5661,308.9151,439.7101,616.4731,732.6511,763.1842,014.8052,144.5672,338.1792,547.5882,791.4703,059.208
PhilippinesGeneral government total expenditureTotal expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.Percent of GDP See notes for: 
General government total expenditure (National currency).n/an/an/an/an/an/an/an/an/an/an/an/an/an/a20.28019.68920.23120.92620.98121.41021.48821.74921.30321.17320.14019.53219.09618.99018.64720.14019.24418.11219.18918.73018.70118.65918.72318.790
PhilippinesGeneral government net lending/borrowingNet lending (+)/ borrowing (–) is calculated as revenue minus total expenditure. This is a core GFS balance that measures the extent to which general government is either putting financial resources at the disposal of other sectors in the economy and nonresidents (net lending), or utilizing the financial resources generated by other sectors and nonresidents (net borrowing). This balance may be viewed as an indicator of the financial impact of general government activity on the rest of the economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending (+)/borrowing (–) is also equal to net acquisition of financial assets minus net incurrence of liabilities.National currencyBillionsSource: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012n/an/an/an/an/an/an/an/an/an/an/an/an/an/a-8.594-0.34913.32510.180-39.860-76.577-121.049-140.617-161.268-164.702-149.443-96.134-3.037-20.5101.326-218.918-202.492-80.378-200.617-143.943-142.733-163.782-173.540-198.982
PhilippinesGeneral government net lending/borrowingNet lending (+)/ borrowing (–) is calculated as revenue minus total expenditure. This is a core GFS balance that measures the extent to which general government is either putting financial resources at the disposal of other sectors in the economy and nonresidents (net lending), or utilizing the financial resources generated by other sectors and nonresidents (net borrowing). This balance may be viewed as an indicator of the financial impact of general government activity on the rest of the economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending (+)/borrowing (–) is also equal to net acquisition of financial assets minus net incurrence of liabilities.Percent of GDP See notes for: 
General government net lending/borrowing (National currency).n/an/an/an/an/an/an/an/an/an/an/an/an/an/a-0.458-0.0170.5540.379-1.350-2.360-3.381-3.616-3.841-3.621-2.919-1.693-0.048-0.2980.017-2.728-2.249-0.826-1.911-1.257-1.142-1.200-1.164-1.222
PhilippinesGeneral government primary net lending/borrowingPrimary net lending/borrowing is net lending (+)/borrowing (–) plus net interest payable/paid (interest expense minus interest revenue).National currencyBillionsSource: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012n/an/an/an/an/an/an/an/an/an/an/an/an/an/a87.06691.464112.003111.78078.83345.58231.57046.88426.89862.753112.942202.608298.868235.452263.37946.86870.691173.270108.929177.940195.492192.855200.041196.896
PhilippinesGeneral government primary net lending/borrowingPrimary net lending/borrowing is net lending (+)/borrowing (–) plus net interest payable/paid (interest expense minus interest revenue).Percent of GDP See notes for: 
General government primary net lending/borrowing (National currency).n/an/an/an/an/an/an/an/an/an/an/an/an/an/a4.6424.3314.6544.1572.6701.4050.8821.2060.6411.3802.2063.5684.7663.4163.4110.5840.7851.7801.0371.5541.5641.4131.3421.209
PhilippinesGeneral government gross debtGross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).National currencyBillionsSource: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012n/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,229.2231,324.4291,316.9361,577.7891,507.6301,738.3422,104.5342,287.8142,655.6953,094.3323,369.4543,359.4593,234.7883,076.8873,410.1123,559.0683,799.2713,939.8034,214.1914,427.2374,645.2474,882.5115,131.2165,406.349
PhilippinesGeneral government gross debtGross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).Percent of GDP See notes for: 
General government gross debt (National currency).n/an/an/an/an/an/an/an/an/an/an/an/an/an/a65.53462.71854.72758.68251.05853.58358.77458.83163.25668.03665.80459.16951.58244.64044.16744.34342.19840.47140.13738.66737.15335.76034.41633.206
PhilippinesGross domestic product corresponding to fiscal year, current pricesGross domestic product corresponding to fiscal year is the country’s GDP based on the same period during the year as their fiscal data. In the case of countries whose fiscal data are based on a fiscal calendar (e.g., July to June), this series would be the country’s GDP over that same period. For countries whose fiscal data are based on a calendar year (i.e., January to December), this series will be the same as their GDP in current prices.National currencyBillionsSource: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012n/an/an/a408.920581.100633.620674.618756.471885.4561,025.3491,190.5071,379.8751,497.4641,633.6291,875.6902,111.7052,406.3882,688.7182,952.7623,244.1973,580.7123,888.8014,198.3484,548.1015,120.4365,677.7506,271.1576,892.7217,720.9058,026.1449,003.4799,734.78310,499.63111,449.72312,503.09813,653.38314,909.49416,281.167
PhilippinesCurrent account balanceCurrent account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.U.S. dollarsBillionsSource: CEIC
Latest actual data: 2010
BOP Manual used: BPM 5
Primary domestic currency: Philippine pesos
Data last updated: 03/2012-2.485-1.327-1.987-1.769-0.1630.5231.2060.1980.317-1.456-2.690-0.944-0.993-3.003-2.849-1.965-3.861-4.3301.510-2.875-2.228-1.750-0.2820.2851.6251.9805.3417.1123.6279.3588.9245.8452.1322.5213.3544.5985.2886.264
PhilippinesCurrent account balanceCurrent account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.Percent of GDP See notes for: 
Gross domestic product, current prices (National currency)
Current account balance (U.S. dollars).-6.911-3.360-4.828-4.808-0.4671.5363.6440.5390.755-3.087-5.493-1.879-1.692-4.985-4.013-2.393-4.207-4.7462.091-3.464-2.750-2.295-0.3470.3401.7781.9214.3704.7622.0895.5544.4712.7430.9371.0371.2891.6471.7651.946
Notes
  Subject Notes  
  Gross domestic product, constant prices (National currency)
Expressed in billions of national currency units; the base year is country-specific. Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]


Gross domestic product, constant prices (Percent change)
Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific . Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]


Gross domestic product, current prices (National currency)
Expressed in billions of national currency units . Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]


Gross domestic product, current prices (U.S. dollars)
Values are based upon GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). Exchange rate projections are provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise. Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. [SNA 1993]


Gross domestic product, deflator (Index)
The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Data are expressed in the base year of each country's national accounts.


Gross domestic product per capita, constant prices (National currency)
GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.


Gross domestic product per capita, current prices (National currency)
GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.


Gross domestic product per capita, current prices (U.S. dollars)
GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.


Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP (Current international dollar)
These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy.

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.

For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.


Gross domestic product based on purchasing-power-parity (PPP) per capita GDP (Current international dollar)
Expressed in GDP in PPP dollars per person. Data are derived by dividing GDP in PPP dollars by total population. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy.

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.

For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.


Gross domestic product based on purchasing-power-parity (PPP) share of world total (Percent)
Expressed in percent of world GDP in PPP dollars. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy.

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.

For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.


Implied PPP conversion rate (National currency per current international dollar)
Expressed in national currency per current international dollar. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy.

The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables.

For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. 106-23.


Total investment (Percent of GDP)
Expressed as a ratio of total investment in current local currency and GDP in current local currency. Investment or gross capital formation is measured by the total value of the gross fixed capital formation and changes in inventories and acquisitions less disposals of valuables for a unit or sector. [SNA 1993]


Gross national savings (Percent of GDP)
Expressed as a ratio of gross national savings in current local currency and GDP in current local currency. Gross national saving is gross disposable income less final consumption expenditure after taking account of an adjustment for pension funds. [SNA 1993] For many countries, the estimates of national saving are built up from national accounts data on gross domestic investment and from balance of payments-based data on net foreign investment.


Inflation, average consumer prices (Index)
Expressed in averages for the year, not end-of-period data. A consumer price index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of consumers’ incomes and their welfare. As the prices of different goods and services do not all change at the same rate, a price index can only reflect their average movement. A price index is typically assigned a value of unity, or 100, in some reference period and the values of the index for other periods of time are intended to indicate the average proportionate, or percentage, change in prices from this price reference period. Price indices can also be used to measure differences in price levels between different cities, regions or countries at the same point in time. [CPI Manual 2004, Introduction] For euro countries, consumer prices are calculated based on harmonized prices. For more information see http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-BE-04-001/EN/KS-BE-04-001-EN.PDF.]


Inflation, average consumer prices (Percent change)
Annual percentages of average consumer prices are year-on-year changes.


Inflation, end of period consumer prices (Index)
Expressed in end of the period, not annual average data. A consumer price index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of consumers’ incomes and their welfare. As the prices of different goods and services do not all change at the same rate, a price index can only reflect their average movement. A price index is typically assigned a value of unity, or 100, in some reference period and the values of the index for other periods of time are intended to indicate the average proportionate, or percentage, change in prices from this price reference period. Price indices can also be used to measure differences in price levels between different cities, regions or countries at the same point in time. [CPI Manual 2004, Introduction] For euro countries, consumer prices are calculated based on harmonized prices. For more information see http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-BE-04-001/EN/KS-BE-04-001-EN.PDF.


Inflation, end of period consumer prices (Percent change)
Annual percentages of end of period consumer prices are year-on-year changes.


Volume of imports of goods and services (Percent change)
Percent change of volume of imports refers to the aggregate change in the quantities of total imports whose characteristics are unchanged. The goods and services and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]


Volume of Imports of goods (Percent change)
Percent change of volume of imports of goods refers to the aggregate change in the quantities of imports of goods whose characteristics are unchanged. The goods and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]


Volume of exports of goods and services (Percent change)
Percent change of volume of exports refers to the aggregate change in the quantities of total exports whose characteristics are unchanged. The goods and services and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]


Volume of exports of goods (Percent change)
Percent change of volume of exports of goods refers to the aggregate change in the quantities of exports of goods whose characteristics are unchanged. The goods and their prices are held constant, therefore changes are due to changes in quantities only. [Export and Import Price Index Manual: Theory and Practice, Glossary]


Value of oil imports (U.S. dollars)
Value is equal to the price per unit of quantity of oil imports multiplied by the number of quantity units.


Value of oil exports (U.S. dollars)
Value is equal to the price per unit of quantity of oil exports multiplied by the number of quantity units.


Unemployment rate (Percent of total labor force)
Unemployment rate can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. The OECD harmonized unemployment rate gives the number of unemployed persons as a percentage of the labor force (the total number of people employed plus unemployed). [OECD Main Economic Indicators, OECD, monthly] As defined by the International Labour Organization, unemployed workers are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work. [ILO, http://www.ilo.org/public/english/bureau/stat/res/index.htm]


Population (Persons)
For census purposes, the total population of the country consists of all persons falling within the scope of the census. In the broadest sense, the total may comprise either all usual residents of the country or all persons present in the country at the time of the census. [Principles and Recommendations for Population and Housing Censuses, Revision 1, paragraph 2.42]


General government revenue (National currency)
Revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government’s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.


General government revenue (Percent of GDP)
Revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government’s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.


General government total expenditure (National currency)
Total expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.


General government total expenditure (Percent of GDP)
Total expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.


General government net lending/borrowing (National currency)
Net lending (+)/ borrowing (–) is calculated as revenue minus total expenditure. This is a core GFS balance that measures the extent to which general government is either putting financial resources at the disposal of other sectors in the economy and nonresidents (net lending), or utilizing the financial resources generated by other sectors and nonresidents (net borrowing). This balance may be viewed as an indicator of the financial impact of general government activity on the rest of the economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending (+)/borrowing (–) is also equal to net acquisition of financial assets minus net incurrence of liabilities.


General government net lending/borrowing (Percent of GDP)
Net lending (+)/ borrowing (–) is calculated as revenue minus total expenditure. This is a core GFS balance that measures the extent to which general government is either putting financial resources at the disposal of other sectors in the economy and nonresidents (net lending), or utilizing the financial resources generated by other sectors and nonresidents (net borrowing). This balance may be viewed as an indicator of the financial impact of general government activity on the rest of the economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending (+)/borrowing (–) is also equal to net acquisition of financial assets minus net incurrence of liabilities.


General government primary net lending/borrowing (National currency)
Primary net lending/borrowing is net lending (+)/borrowing (–) plus net interest payable/paid (interest expense minus interest revenue).


General government primary net lending/borrowing (Percent of GDP)
Primary net lending/borrowing is net lending (+)/borrowing (–) plus net interest payable/paid (interest expense minus interest revenue).


General government gross debt (National currency)
Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).


General government gross debt (Percent of GDP)
Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).


Gross domestic product corresponding to fiscal year, current prices (National currency)
Gross domestic product corresponding to fiscal year is the country’s GDP based on the same period during the year as their fiscal data. In the case of countries whose fiscal data are based on a fiscal calendar (e.g., July to June), this series would be the country’s GDP over that same period. For countries whose fiscal data are based on a calendar year (i.e., January to December), this series will be the same as their GDP in current prices.


Current account balance (U.S. dollars)
Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.


Current account balance (Percent of GDP)
Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.


  Country/Series-specific Notes  
  Philippines: Gross domestic product, constant prices (National currency)
Source: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Philippines: Gross domestic product, current prices (National currency)
Source: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Gross domestic product, current prices (U.S. dollars)
See notes for:
Gross domestic product, current prices (National currency).


Philippines: Gross domestic product, deflator (Index)
See notes for:
Gross domestic product, constant prices (National currency)
Gross domestic product, current prices (National currency).


Philippines: Gross domestic product per capita, constant prices (National currency)
See notes for:
Gross domestic product, constant prices (National currency)
Population (Persons).


Philippines: Gross domestic product per capita, current prices (National currency)
See notes for:
Gross domestic product, current prices (National currency)
Population (Persons).


Philippines: Gross domestic product per capita, current prices (U.S. dollars)
See notes for:
Gross domestic product, current prices (National currency)
Population (Persons).


Philippines: Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP (Current international dollar)
See notes for:
Gross domestic product, current prices (National currency).


Philippines: Gross domestic product based on purchasing-power-parity (PPP) per capita GDP (Current international dollar)
See notes for:
Gross domestic product, current prices (National currency)
Population (Persons).


Philippines: Gross domestic product based on purchasing-power-parity (PPP) share of world total (Percent)
See notes for:
Gross domestic product, current prices (National currency).


Philippines: Implied PPP conversion rate (National currency per current international dollar)
See notes for:
Gross domestic product, current prices (National currency).


Philippines: Total investment (Percent of GDP)
Source: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Gross national savings (Percent of GDP)
Source: CEIC
Latest actual data: 2011
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000
Chain-weighted: No
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Inflation, average consumer prices (Index)
Source: CEIC
Latest actual data: 2011
Harmonized prices: No
Frequency of source data: Monthly
Base year: 2006
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Inflation, average consumer prices (Percent change)
See notes for:
Inflation, average consumer prices (Index).


Philippines: Inflation, end of period consumer prices (Index)
Source: CEIC
Latest actual data: 2011
Harmonized prices: No
Frequency of source data: Monthly
Base year: 2006
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Inflation, end of period consumer prices (Percent change)
See notes for:
Inflation, end of period consumer prices (Index).


Philippines: Volume of imports of goods and services (Percent change)
Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)


Philippines: Volume of Imports of goods (Percent change)
Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)


Philippines: Volume of exports of goods and services (Percent change)
Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)


Philippines: Volume of exports of goods (Percent change)
Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)


Philippines: Value of oil imports (U.S. dollars)
Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)


Philippines: Value of oil exports (U.S. dollars)
Source: CEIC
Latest actual data: 2010
Base year: Volume growth rate used as input
Methodology used to derive volumes:
Formula used to derive volumes: By Source, CEIC
Trade System: General trade
Valuation of exports: Free on board (FOB)
Valuation of imports: Free on board (FOB)


Philippines: Unemployment rate (Percent of total labor force)
Source: CEIC
Latest actual data: 2011
Employment type: Harmonized ILO definition. Please note that data prior to 2005 are not based on harmonized ILO definition but based on national definition.
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Population (Persons)
Source: CEIC
Latest actual data: 2010
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: General government revenue (National currency)
Source: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: General government revenue (Percent of GDP)
See notes for:
General government revenue (National currency).


Philippines: General government total expenditure (National currency)
Source: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: General government total expenditure (Percent of GDP)
See notes for:
General government total expenditure (National currency).


Philippines: General government net lending/borrowing (National currency)
Source: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: General government net lending/borrowing (Percent of GDP)
See notes for:
General government net lending/borrowing (National currency).


Philippines: General government primary net lending/borrowing (National currency)
Source: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: General government primary net lending/borrowing (Percent of GDP)
See notes for:
General government primary net lending/borrowing (National currency).


Philippines: General government gross debt (National currency)
Source: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Philippines: Gross domestic product corresponding to fiscal year, current prices (National currency)
Source: Department of Finance, Department of Budget and Management
Latest actual data: 2011. 2011 data are projections for local governments and social security institutions.
Fiscal assumptions: Fiscal projections assume that the authorities’ fiscal deficit target will be achieved in 2012 and beyond. Revenue projections reflect the IMF staff’s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure projections are based on budgeted figures, institutional arrangements, and fiscal space in each year.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Current account balance (U.S. dollars)
Source: CEIC
Latest actual data: 2010
BOP Manual used: BPM 5
Primary domestic currency: Philippine pesos
Data last updated: 03/2012


Philippines: Current account balance (Percent of GDP)
See notes for:
Gross domestic product, current prices (National currency)
Current account balance (U.S. dollars).


 
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