Philippines on Track to Become One Trillion Dollar Economy by 2033 Part 1

The Philippines' economy increased at a 7.6% annual rate in 2022, the strongest rate of economic development since 1976. With high growth projected in the medium term, the Philippines GDP in US dollar nominal terms is expected to reach USD one trillion by 2033.

As a result, the Philippines will become one of the major emerging markets in Asia-Pacific, as well as a prominent emerging market globally. Average yearly GDP per person has also increased considerably over the last two decades, rising from less than USD 1,000 in 2000 to USD 3,500 by 2022 and is expected to exceed USD 6,000 per person by 2030.

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