Hi, for our first data visuals post, we’ll be doing a brief overview of the economy.
For context, we’ll compare it with similar South East Asia nations and some of the worlds largest economies.
The data
source : data.worldbank.org
The indicators we’ll be using are:
- GDP
- GDP growth rate
- Total Population
- Population growth rate
- Per capita income
Brief descriptions - GDP: The Annual GDP (Gross Domestic Product) is the total money value of all goods and services produced within a country in a year. It’s what the economy is worth.
- Total Population: is the total number of everyone living in the country.
- Per capita Income: is GDP divided by the total population. Basically, it shows the overall annual average income of everyone living in the country.
In 2020, the Philippines economy was estimated to be worth approximately $367 billion, down from $377 billion in 2019.
From 2005 to 2015, the economy grew by around $100 billion every 5 years.
As the global pandemic hits hard in 2020, the economy fell by -9.5%. In the last 30 years since 1990, Philippines has had a negative growth rate in only 3 years. 2020, 1998 and 1991.
Total population has grown from 62 million people in 1990 to 110 million people in 2020. But, there’s been a gradual fall in the growth rate. In 1990, the population grew at a rate of 2.5% . In 2020, by 1.4%. Note how the population grows by 8 million people every 5 years.
In 2020, per capita income was $3600. Converting it to PHP with USD set at 1USD = 50PHP. 3600 x 50 = 180,000 PHP.
The estimated overall average income of everyone in Philippines in 2020, was 180,000PHP.
Divided by 12 months equals 15,000PHP per month.
Of the 5 countries compared in the chart, Malaysia’s GDP was the lowest. But in terms of per capita income, it’s the highest.
The U.S is the world’s largest economy with GDP of over $20 trillion.
China the world’s second largest economy, has a lower average per capita income than Malaysia, Japan, Canada.
Summary.
The charts were created using data from world bank. We can see 15 to 30 years trend on how much Philippines economy is worth, the total number of people and how much is earned on average per year. And we compared the economy with similar south east Asia countries and some of the world’s largest economies.
Download the PDF doc
01. Philippines GDP
02. Annual growth rate of GDP
03. Total population and population growth rate.
04. Per capita income since 1990
05. Comparing Philippines GDP with similar South East Asia countries.
06. Comparing Philippines GDP with similar SE Asia countries and world.
07. Philippines Per capita income with similar South East Asia countries.
08. Philippines Per capita income with similar SE Asia countries and world.