About Philippines
Economy of Philippines
Data from World Bank
As seen from Figure 1, GDP per capita of Philippines is consistently below the average GDP per capita of the world. In fact, the gap between the two is widening. In 2004, GDP per capita of Philippines was $1,085, whereas average GDP per capita of the world was $6,680. In 2012, GDP per capita of Philippines was $2,587, whereas average GDP per capita of the world was $10,291. This is despite Philippines doing well in recent years, posting positive GDP per capita growth.
Philippines has a rather high unemployment rate with an average of 7% for the past 3 years (Figure 2), and is ranked 82nd in the world, according to CIA World Factbook.