Country

The Philippines


The Philippines


The Philippines has been one of the most dynamic economies in the East Asia and Pacific region. With increasing urbanization, a growing middle class, and a large and young population, the Philippines’ economic dynamism is rooted in strong consumer demand supported by a vibrant labor market and robust remittances.

The private sector remains buoyant, with positive performance from the services sector including business process outsourcing, wholesale and retail trade, real estate, and tourism. Poverty rate declined from 23.3 percent in 2015 to 18.1 percent in 2021 despite the shocks endured through the COVID-19 pandemic and other global headwinds such as high global commodity prices and tight global financial conditions. The Philippine government pursues larger investments in both human and physical capital to boost growth over the medium and long term.

The Philippines’ economic recovery is well underway, as growth increased to 7.6 percent in 2022 from 5.7 percent in 2021. Over the medium-term, the growth outlook will continue to be supported by strong domestic demand, driven by a robust labor market, continued public investments, and the positive effects of recent investment policy reforms which could boost private investment. With continued recovery and reform efforts, the country is getting back on track on its way from a lower middle-income country with a gross national income per capita of US$3,950 in 2023 to an upper middle-income country (per capita income range of US$4,466 - US$13,845).

Source:  World Bank, Philippines Country Overview


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The Philippines’ SDG Investor Map was developed by the UNDP Philippines, with the support of the SDG Impact and the Centre for Impact Investing and Practices. The Map also benefited from the support of the Joint SDG Fund Joint Programme on Integrated National Financing Framework in the Philippines or JP INFF.

The Philippines’ Map was prepared through close collaboration with the government, including the National Economic and Development Authority, and line agencies, such as the Department of Trade and Industry, Department of Education, and Department of Energy, among others. In addition, the Map will not be produced without the support and partnership of all private sector entities who participated in the mapping process.

Download the Philippines SDG Investor Map Handbook here.

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