Gross Domestic Product Per Capita for Philippines
PCAGDPPHA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,984.83
Year-over-Year Change
52.41%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per Capita for the Philippines measures the total economic output divided by the country's population. It is a key metric for evaluating a nation's standard of living and economic development.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP per capita provides insights into a country's economic productivity and the material well-being of its citizens. It is widely used by economists, policymakers, and international organizations to compare living standards across countries and over time.
Methodology
The data is calculated by the World Bank using national accounts data.
Historical Context
GDP per capita is a crucial indicator for assessing the Philippine economy's performance and informing economic policies.
Key Facts
- The Philippines' GDP per capita was $3,485 in 2021.
- GDP per capita in the Philippines has grown by 63% over the past decade.
- The Philippines ranks 134th globally in terms of GDP per capita.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per Capita for the Philippines measures the total economic output of the country divided by its population.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a key indicator of a country's economic productivity and the material well-being of its citizens, making it crucial for evaluating economic development and living standards.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data.
Q: How is this trend used in economic policy?
A: GDP per capita is a crucial indicator for assessing the Philippine economy's performance and informing economic policies aimed at promoting growth and improving living standards.
Q: Are there update delays or limitations?
A: The GDP per capita data for the Philippines is typically updated annually by the World Bank with a short delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Philippines (PCAGDPPHA646NWDB), retrieved from FRED.