🇵🇭 PHILIPPINES Economy | Trillion Dollar Economy by 2033

The Philippines is the fastest Growing advanced and Emerging Economy in the world as of the first quarter of 2023 and is set to become a one Trillion economy measured in Nominal GDP by 2033.
The Philippine Government, highlighted the country’s current dynamic domestic economy, and positive outlook. As the Philippine Statistics Authority PSA, reported that the country's gross domestic product GDP, grew by 6.4 percent in the first quarter of 2023.
As the Philippines currently experience a dynamic domestic economy, this means that even if the regional and global economic environment would worsen, the Philippine economy has its own momentum and own dynamism to sustain growth.
The reported GDP growth performance figure, is well within the government’s target of 6 to 7 percent for 2023. Furthermore, based on the latest available data, from the top 40 Global economies, that have released their first quarter 2023 real GDP growth. The Philippines, grew the fastest among Developed and major emerging economies in the world.
It was followed by India, expanding by 6.1%. Malaysia growing by 5.6%. Indonesia at 5% and China at 4.5%.
The higher-than-expected growth comes in an environment of high inflation and continued interest rate hikes. Though inflation slightly eased to 6.6% in April, and 6.1 in May from 8.7% in January.
Even if the prices are slightly high, if incomes are rising because of more opportunities for employment, or the quality of opportunities is improving. Then somehow, households can still manage to increase their consumption levels.
With strong growth forecast, over the medium-term outlook, the size of the Philippines’ GDP measured in US Dollar nominal terms is set to reach one trillion USD by 2033, according to the report issued by S&P Global Market Intelligence.
This will make the Philippines one of the largest emerging markets in the Asia-Pacific as well as a leading emerging market globally. The average annual GDP per person has also risen dramatically over the past two decades, from below $1,000 per person in $2,000 to $3,500 by 2022, and is projected to rise above $6,000 per person by 2030.
The strong rebound from the COVID-19 pandemic during 2022, helped to drive the pace of growth of the Philippines economy to the fastest rate since 1976.
The Philippines GDP growth rate of 7.6% was comparable to some of the world's fastest-growing major Global emerging markets in 2022, including the Gulf Co-operation Council oil exporting nations of Saudi Arabia and the United Arab Emirates, as well as other rapidly growing Asian emerging economies such as Malaysia, Vietnam, and India.
During the period from 2012 to 2019, real GDP growth in the Philippines each year ranged between 6% to 7%. The economic rebound in 2022 pushed real economic growth to the highest pace recorded since 1976, with household final consumption expenditure growing by 8.3%, while gross capital formation grew by 16.8% year on year.
Sustained remittance inflows from workers abroad, fast-growing IT-BPO sector exports, and the recovery of the tourism sector are also expected to support economic growth momentum during 2023.
According to the IT and Business Process Association of the Philippines, the total IT-BPO headcount in the Philippines reached 1.6 million in 2022 with revenues for the sector rising to USD 32.5 billion.
The long-term outlook for the IT-BPO sector in the Philippines is continued with high growth, helped by key competitive advantages of a well-educated workforce, and English language proficiency.
The Philippines’ economy is forecast to continue to grow rapidly, with total GDP doubling from USD 400 billion in 2022 to USD 800 billion in 2030. A key growth driver will be rapid growth in private consumption spending, buoyed by strong growth in urban household incomes.
By 2033, the Philippines is forecast to become one of the Asia-Pacific region's, small group of one trillion-dollar economies, joining mainland China, Japan, India, South Korea, Australia, Taiwan, and Indonesia in this grouping of the largest economies in APAC.
The Philippines is poised to become the world’s 18th biggest economy by 2050, as long as it addresses its infrastructure lack. A long-term projection, made by London-based macroeconomic research organization, Capital Economics.
As projected, the Philippines’ nominal gross domestic product, GDP climbing to 4 trillion and 862 billion dollars, three decades from now. Such that nominal GDP per capita, would also rise to $33,650.
In the latest forecasts, showed that by 2050, the Philippines would only be behind the following countries in terms of nominal GDP at market exchange rates. The United States, China, India, Germany, Japan, the United Kingdom, Indonesia, France, Canada, Australia, South Korea, Mexico, Russia, Vietnam, Italy, Brazil, and Egypt.
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[@breakwhiskey2863]

Let us take care and protect our tourist all the time. Make them feel at home by showing Pinoy hospitality. ❤

[@christian9365]

I would like to Visit the Philippines one day.... Greetings from Germany

[@thewatchmenz]

we need tourists but the national and local governments are not doing enough to clean our cities and to improve our tourist spots

[@EC4U2C_Studioz]

More direct Manila flights via the New Manila International Airport will help the Philippines be a trillion-dollar economy.

[@johnlee-vh4mo]

It’s not as simple as that… 🤣

[@boriboredmond3794]

​@@johnlee-vh4moyes so many challenges it's true but you don't win if you don't take a risk

[@junfernandez9288]

TO GOD ALMIGHTY AND TO OUR LORD JESUS CHRIST BE THE GLORY AND HONOUR FOR THE PHILIPPINES ECONOMIC GROWTH AND PROSPERITY.👍❤🇵🇭❤👍 THANK YOU LORD JESUS CHRIST FOR ALL OF YOUR BLESSINGS TO OUR COUNTRY.

[@DilAbadyi]

I hope Philippines can develop Manufacturing Industry, which is crucial for a developing country's economy

[@mrconfusion87]

Yup! NO country with over 20 mln people has gotten rich without a solid manufacturing base!

[@normalyoutube495]

​@@mrconfusion87Why are you always negative? We have provinces that export or make hi tech things. Laguna, Cavite, Batangas, Bulacan, Pampanga, Bataan, Zambales, Benguet, Cebu, Misamis Oriental, Davao Del Sur. See the map for yourself you can see factories, warehouses, port everywhere. Remember the Philippines only escaped corruption in 2010.

[@equilibriumfiles5768]

Go Philippines!!!!! ❤🎉🎉🎉

[@CarolineMiranda-td1th]

Thank you ASEAN Analytics for featuring the Philippines economy. Happy New year and I wish you good luck and all the best in the year 2024. More subscribers.

[@reaganramirez-vc8rw]

Kailangan ng gamitin natin ang lahat nating natural resources Lalo na ang gas at mining industry upang mas lalong pumalo ang Ating ekonomiya

[@Lelegoldnine]

Tas pag focusan pa ang Agricultura para hindi na tayo mag import ng basic needs

[@daryldaryl913]

​@@Lelegoldnine Yes. Be as independent as possible though. Give you more control of your future and less chance to be manipulated.

[@ronnelechavez]

That is only possible when the economic provisions in our constitution will finally be amended allowing more foreign direct investments to tap those resources.

[@patricklucot6355]

Hindi Yan ipagamit dahil aabusuhin lang Yan Ng mga buwaya. Kawawa yong naka Tira Dyan malapit. Kasi nga andaminf buwaya

[@patricklucot6355]

Hindi Yan ipagamit dahil aabusuhin lang Yan Ng mga buwaya. Kawawa yong naka Tira Dyan malapit. Kasi nga andaminf buwaya

[@mr.dreamboy8259]

the fact that the Philippines doesn't produce as much oil as its peers yet managed to 2nd overall is impressive indeed.

[@mrconfusion87]

We have some oil reserves that are still being explored...

[@bassboosted9708]

Philippines rising to the top. God bless Philippines and Filipinos. May everyone become prosperous, healthy and wealthy. Love our country. Create wealth, business and abundance. Respect everyone and support local businesses.

[@GaryUy-bt1wx]

Its the countries with big populations naturally has big economy!!! Phil has strong domestic economy!!!

[@richardnuevo]

Not really

[@mrconfusion87]

​@@richardnuevoMore like not yet...

[@FeloLope]

Philippines is still reign as the fastest GDP growth in ASEAN, Philippines is on track to become 1st world country.

[@teguhfaisalm1997]

Eat your pagpag pinoy 😂😂

[@LuisitoGalingana]

@@teguhfaisalm1997 be civilize

[@yayeltv]

@@teguhfaisalm1997 bitter?

[@luffydmonkey5341]

@@teguhfaisalm1997 cringe

[@joeeuropean3874]

@@teguhfaisalm1997 crab mentality gung gung

[@mrjulyalinagan7732]

Grade naman projections MO.....kahit ikaw at tayo patay Na ah. Problem na ng bagong generation Yan kung babaliwalain nila ang nasimulan ulit ng Marcos administration. Mabuhay🎉

[@godministry75]

I noticed Filipinos loved to go abroad than working here in Philippines. Maybe it's high time that Filipinos should do business and stock investing so that our country will be truly in progress.

[@preciousbarroga9342]

Our education system creates more employees than employers. Kaya we look for jobs, not creators of jobs.

[@user-jp3js6fj4p]

Do you know how much the salary in our country.even single person can not afford to live

[@GaryUy-bt1wx]

One thing mote the phil has a big deposit of the most important mineral in manufacturing lithium batteries for electric vehicles!!!! Thats a big advantages for phil

[@mrconfusion87]

We should BAN raw exports so processors and manufacturers have no choice but to enter our shores...

[@bornonjuly7052]

OFW remmittances, BPOs, manufacturing exports and tourisms combined are the drivers of the economy.

[@dustybluemoon]

Hopefully everything will run smoothly and 1 trillion economy materialize

[@missjddrage1111]

The Philippines could really use the economic boost. They will thrive easier and have crucial essentials like food! This is a beautiful thing! Very much needed.

[@JohnTV32]

🎉🎉🎉

[@Yam3yam3]

I hope after the infrastructure, agriculture sector and untapped oil and gas reserves will flourish in the Philippines

[@wangchung7599]

Philippines relies largely on remittances from overseas workers.

[@mrconfusion87]

A bit more than it should, but it is not as awfully dependent on it in the way a country like Tajikistan or Yemen are.

[@millennialinmanila5621]

It's undeniably a big help but BPO is closely following. There's still more opportunities to tap like tourism and manufacturing, aside from mineral resources like gold and nickel.

[@jamesgilbert2181]

with out a strong manufacturing base it really wont help the people the phil. really needs to rely on something other than oversea workers and tourist

[@richardnuevo]

The Philippines is not relying much on overseas workers.

[@jamesgilbert2181]

@@richardnuevo are you kidding remittance here is very high chunk of the gdp

[@normalyoutube495]

​@@jamesgilbert2181So? Electronic exports are 50+ billion

[@mrconfusion87]

​@@jamesgilbert2181A bit less than 10% of the overall GDP actually. Countries such as Lebanon, Tajikistan, El Salvador, Haiti, Nepal, Guatemala, Armenia, Uzbekistan, Georgia, Moldova and Ukraine are more reliant on remittances than we are. Hopefully the portion of the PH economy generated by remittances will shrink to below 5% in the near future! 😁

[@normalyoutube495]

​@@mrconfusion87What? No!

[@Stephen_Jabs]

Please also feature other aseab countries and not only Philippines

[@dextershaman7154]

Im filipino, they will feature some asean countries soon. Yeah, its more favor in ph. I think this channel was designated here because of information tbey have.

[@teguhfaisalm1997]

​@@dextershaman7154Bulshit pinoy

[@Rose-gw7hg]

What do you expect? Yeah featuring other asean just to cover his pinoy chanel right? Hahahhaa🤭

[@richardnuevo]

​@@Rose-gw7hgalways jealous 😂

[@Rose-gw7hg]

@@richardnuevo thats only argue from pinoy impolite. No etic!

[@frankiefernandez9225]

🇵🇭🇵🇭🇵🇭🤑🤑🤑

[@mistyelarco9850]

Hello I'm pilipino

[@kng5736]

Philipines is worldclass country

[@sarahjoycuray8501]

1 Day..WE Filipinos ..will rise above other nations..starting now with our Beloved Pres Ferdinand Bongbong Marcos Jr❤❤❤

[@aseananalytics]

Thanks for watching, please share like and comments to our videos. For more related content please visits are homepage. Once again, thank you for the support!!

[@jamesmurayao2806]

For sure the reality of it it will be a trillion times its external.debt economy

[@normalyoutube495]

Most debts are internal.

[@Macjeeh]

Dear Manong Bong! Increase the taxes on Chinese Oligarchs. Owner of SM MALL, owner of Phil Airlines,........The days Cory-kung are gone. N there should be no more tax breaks for them.

[@bernardoagulo7966]

I doubt if a trillion dollar economy (GDP nominal) can be achieved by PH on 2033. The PH economy needs to grow around 9% annually to achieve that. Maybe by around 2040, PH will be a trillion dolloar economy. In terms of GDP - PPP, PH is already a trillion dollar economy now.

[@daydream2277]

no , its 2033 gonna be a trillion dollar mark with 6% gdp growth per year

[@normalyoutube495]

Look at Indonesia only grow 4% but now is at trillion dollars.

[@mrconfusion87]

​@@normalyoutube495But it is a steady but sure and more broadbased growth...

[@normalyoutube495]

@@mrconfusion87 So is the Philippines. Averaging 6% from 2010-2022.

[@GaryUy-bt1wx]

That's what you think!!! Are you more knowledgeable than the economic expert of world bank!!! International monetary funds????

[@veriitas33]

Despite having a sizable workforce, a significant percentage of Filipinos seek jobs abroad, raising worries about pay and labor conditions in the Philippines. This phenomena is seen with regret, with the assumption that compensation and working conditions in the country may not be commensurate with the workforce's skills and efforts. The problem is exacerbated by allegations of nepotism within leadership, with certain officials accused of favoring family members in recruiting processes. These findings hint to systemic issues in the Philippine labor market, which may contribute to the ongoing trend of Filipinos seeking work opportunities abroad.

[@theangelo_a4981]

Wait... What is that to 2033???

[@happyone7343]

WOW!!!!!! There are a lot of post PHILIPPINES from ASEAN ANALYTICS page 🤣🤣🤣🤣🤣🤣🤣🤣

[@boogieman4170]

PHIS HALLUCINATING TO reached TRILLION DOLLAR ECONOMY ,malaysia, Thailand ,Vietnam , Indonesia has more probability to reached trillion dollar economy

[@aseananalytics]

Thanks for watching, please share like and comments to our videos. For more related content please visits are homepage. Once again, thank you for the support!!

[@arielfalconit8732]

..napakalayo Ng Indonesia para m abot ntin nag trillion dollar.. Indonesia is more than 7% already tayo need p umabot s 2050-2075 ..d n ntin abutan Ang gnun kalakas n economy ..mga future generations n Ang magpapalago nito

[@normalyoutube495]

Grabe naman kung 2050 and beyond pa. 2033 lang talaga yan. If Indonesia can become a trillion dollar economy with a growth rate of 5% annually what makes you think the Philippines can't at 6-7%?

[@daya4703]

Which country is the highest growing economy in South East Asia 2023?

[@normalyoutube495]

Philippines

[@jeuzcorbydaculesjr.9349]

Anong magawa sa mataas na economy pag mahal naman mga bilihin, walang kwenta yan.

[@benedicttv5058]

Short sighted comment, the bigger the economy is the more opportunities around. So pagwala kang diskarte or tamad ka lang talaga surely pulubi ka parin sa 2030 and most likely continue ka sa mga reklamo mo against the government or hinanakit mo sa panginoon.

[@jamdesu6400]

Lol walang kwenta sa mgavtamad hindi sa mga may diskarte at masipag

[@dextershaman7154]

Global inflation , can you stop it in an instant. Gradual lahat pare ko. One step at a time kung baga.

[@normalyoutube495]

Bahala kayo. Yung mga kabataan Ngayon Ang mag bebenefit sa economic growth ng Pilipinas.

[@tonilim-tw8ep]

Just because they let used the few bases - you Carrie their balls

[@user-hd2xd6mb9b]

SPECULATION!!!

[@jonathanpalad8192]

Honestly, I don't believe that it will happen. Philippines has a lot to fix. The roads here in the Philippines are made poorly, lots of bumps, pot holes. Electricity wires, cables, dsl lines and other wires are not arranged properly, very poverty style. In baranggay, roads are very narrow and not well made. In my 45 years of life in my country, I really don't see much improvements, our small town is still the same or much worst in wiring and roads. If the small town or baranggay has not been beautified or improved for 45 years, can I expect growth? If I can see that the roads are smoothened and the wires are arranged properly with no hanging wires that can cause accidents, yeah maybe I will believe

[@franciscogozo2229]

BECAUSE you have crab in your brain

[@jonathanpalad8192]

@@franciscogozo2229 not crab just reality. 🤑

[@dextershaman7154]

The important now is the major cities that much stretch its potential. Small towns are tolerated in terms of development. Where do you live? I think your town is one of the worst i guess.

[@normalyoutube495]

Your town is probably corrupt. Need to elect better. I live in the poorest province in Luzon but our road is good generally except for Quirino Highway and rural parts. Wiring is really not a problem as it brings internet and electricity to houses (Manila and some cities look ugly with them though).

[@nonelbatubalani9643]

I believed ❤.

[@user-jm2iw8fz4d]

Maabut yan mga pangarap pag magaling Ang leader hindi nag pupulvuron 😢😢😢

[@lionheart9795]

Bias Ka Asian analytic bakit laging Pilipinas ang ibinalita mo wla bang other Asian countries 😁😁

[@Takahashi.Mielow]

Malabo pa sa pusit ng sabaw. Semiconductor, ofw remittances at BPO lang sumasalba sa economy ng pinas.

[@tonilim-tw8ep]

Don't count the chicken before it hatch

[@arifghani6664]

X payah berangan 2075 dah kiamat

[@natsumidesu8019]

Before 2075 actually 😊

[@Spy-hp8ki]

😴

[@hidiyakikliuka2792]

fastest crocodiles too 😂❤

[@teguhfaisalm1997]

Old propaganda by this pinoy channel 😂😂

[@Lelegoldnine]

Singapore

[@Rose-gw7hg]

​​@@Lelegoldnine he is OFW in spore😂

[@GaryUy-bt1wx]

That is not a propaganda!! It's a study release by world bank!!!! International monetary fund!!! S and p global!!!

[@richardnuevo]

Bitter as always 😂

[@Rose-gw7hg]

@@richardnuevo yeah to pinoy overproud and oportunis like you its okay lah 🤣

[@NewmaticKe]

Fortune teller 😂

[@hilwaamanamankiyar-pp5bf]

በቃን

[@adiananggaito]

I dunno why u always up indonesia resource.yah its true and becouse of that sukoi amerika plane maker ,wuling and 2 china electric car open prpduction in indonesia and bmw and 2 japanese open production too.we have contract with chinese car industri in 2026 indonesia have indonesia branding electric car.indonesia can to be next chinese .but indonesia have rohingbya refugess issue😢😢😢 why myanmar still same issue of asean can indonesia philipine malaysia thailand presure myanmar?

[@mariaannainditahernawati7132]

ketika peraturan ttg smelther dan hilirisasi diberlakukan ternyata ph juga ingin mencontohnya masalahnya ph msh punya byk pr spt listrik dan uu investasi gimana mau buka pabrik berskala besar jika listrik susah dan mahal lalu uu investasi yg sulit pantas saja mnc memilih ke malaysia, vietnam atau indonesia

[@dijinjing5407]

this channel belongs to pinoy, the channel names asean but only talk bout pinoy.

[@aseananalytics]

Thanks for watching, please share like and comments to our videos. For more related content please visits are homepage. Once again, thank you for the support!!

[@user-xe9hy3xe5q]

another ILLUSSION !!!!

[@jamdesu6400]

Another negative mindset overflows

[@annamariejuan3060]

Yes, your correct negativity to the highest level…

[@Layput]

This is a total joke. This video is making false feelings about the philippines.

[@giannistompong2735]

haha trillion dollar pero vietnam mas mauuna pa sa atin mg ka trillion economy wg na mangarap pinas wla pag asa d2 d tyu open fdi haha

[@RosanaRos3]

😂

[@RosanaRos3]

In year 2033 mas mayaman na ang Government naten nyan sa Vietnam 😂

[@soundtrip6188]

Nag pangap ka pa na Pinoy alam ko Vietnamese ka

[@TenCo-by9pf]

Mas di hamak na mas maunlad Naman Ang PILIPINAS sa Vietnam mag search ka nga! sa ekonomiya ng 2 bansa ( Philippines & Vietnam) Di hamak na mas mayaman Ang PILIPINAS sa Vietnam Paano magiging mayaman Ang Vietnam ni isang Big Mall na Kasama sa Top Biggest Mall in the World Wala Ang Vietnam, Pero Ang PILIPINAS madami tulad ng Mall of Asia at SM Mega Mall Ang Vietnam ay walang World Class na City tulad ng BGC at Makati City ng PILIPINAS Sige nga sabihin mo nga kung mayaman yang Vietnam mo? PILIPINAS pa nga Ang nag invest sa Vietnam tulad ng Jollibee at San Miguel Beer atbp o paano mahihigitan ng Vietnam mo Ang economy ng PILIPINAS? Para sabihin ko Sayo in over all Economy Philippines is millions & million miles away richer than Vietnam ok? Ang PILIPINAS Kasama sa NIC - Newly Industrialized Countries Ang Vietnam Hindi. O paano naging mas maunlad yang Vietnam sa PILIPINAS, So Philippines is way way millions richer than Vietnam ok? Mag research ka Hindi puro blah blah!

[@leapdrive]

How is China going to be a number one economy by 2050 when their population, banks, real estate and factories are quickly disappearing? At the rate of death they’re incurring due to COVID, China may disappear as a country by 2030.

[@user-jp3js6fj4p]

Trilyon din kukurakutin ng mga politiko at NASA gobyerno

[@Evelyn-ef6nz]

Hindi ba nila nkikita ang pag tayo ng pilipnas ngayon sa panhon ni PBBM. mula ng mawala ang matanda Marcos Sr.

[@arifghani6664]

X payah berangan 2075 dah kiamat

[@jhonargarcia8735]

$25.5 Trillion Dollar - 2075

[@rohankenrivera4651]

Keep gaslighting yourself kid

[@fajrireynaldo5858]

Betul,, menurut saya udah keburu kiamat ,, lebih realisti fokus kehidupan sekarang saja untuk makan minum ibadah liburan😂

[@normalyoutube495]

​@@fajrireynaldo5858Luh Billion years.

[@mariaannainditahernawati7132]

anggap saja gdp ph 395 mil angka pertumbuhan 7% per tahun lalu di 2033 gdp jadi 1t? dalam waktu 10 tahun? kalo ph mampu 2 digit atau > 10% bisa banget tapi kalo kurang dari itu ya sulit