Navigating structural challenges to unlock further growth potential
B1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in January 2024.
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GDP |
|
|
Population |
|
|
Form of state | Presidential Republic | |
Head of government | Ferdinand Marcos Jr. (President) | |
Next elections | 2025, Legislative |
- Member of the Association of Southeast Asian Nations (ASEAN)
- Favorable demographic dynamics
- Robust domestic consumption
- Resilient banking sector
- Strong remittances inflows
- Vulnerable to external pressures
- Cyclical risks from heavy reliance on electronics exports
- Weak business environment
- High public debt
- Climate change vulnerability
Trade structure by destination/origin
(% of total, annual 2022)
Exports | Rank | Imports |
---|---|---|
United States
15.8%
|
1 |
20.4%
China
|
Japan
14.1%
|
2 |
9.6%
Indonesia
|
China
13.9%
|
3 |
9.0%
Japan
|
Hong Kong
13.3%
|
4 |
8.7%
Korea, Republic of
|
Singapore
6.2%
|
5 |
6.6%
United States of America
|
Trade structure by product
(% of total, annual 2022)
Exports | Rank | Imports |
---|---|---|
Electrical machinery, apparatus and appliances, n.e.s.
50.6%
|
1 |
19.5%
Electrical machinery, apparatus and appliances, n.e.s.
|
Office machines and automatic data processing machines
8.3%
|
2 |
12.5%
Petroleum, petroleum products and related materials
|
Metalliferous ores and metal scrap
4.0%
|
3 |
5.9%
Road vehicles
|
Vegetables and fruits
3.5%
|
4 |
4.2%
Iron and steel
|
Telecommunication and sound recording apparatus
3.1%
|
5 |
4.2%
Coal, coke and briquettes
|
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