Philippines

Philippines: steady but modest growth, 1980–2025

A young, fast-growing population, large remittance inflows from overseas workers, and a globally significant business-process-outsourcing industry have driven steady growth since the early 2000s. Between 1980 and 2025, Philippines's GDP per capita grew from $767 to $4,171 (current US$), a compound annual growth rate of 3.8% — steady but modest growth. Annual GDP growth averaged 3.9% with a year-to-year standard deviation of 3.7 points, reflecting relatively stable macroeconomic conditions. Structurally, agriculture's share of the economy moved from 22.0% to 8.6% of GDP (a classic decline as the economy industrialized/modernized), while services rose from 35.3% to 64.4% of GDP, underscoring a shift toward a services-driven economy. On human development, life expectancy rose from 61.9 to 69.9 years, while tertiary school enrollment moved from 21.3% to 47.4%, while the urban population share grew from 33.8% to 55.8%.

What this growth cost: Growth was not without cost: per-capita CO2 emissions rose from 0.74 to 1.50 tonnes CO2e per person; income inequality (Gini index) narrowed from 41.0 to 39.3; the poverty headcount ratio fell from 43.3% to 5.3%.