Economy of the Philippines in the context of "Commonwealth of the Philippines"

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⭐ Core Definition: Economy of the Philippines

The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2025, the Philippine economy is estimated to be at ₱28.50 trillion ($497.5 billion), making it the world's 32nd largest by nominal GDP and 9th largest in Asia according to the International Monetary Fund.

The Philippine economy is a service-oriented economy, with relatively more modest contributions from the manufacturing and agriculture sectors. It has experienced significant economic growth and transformation in the past, posting one of the highest GDP growth rates in Asia. With an average annual growth rate of around 6 percent since 2010, the country has emerged as one of the fastest-growing economies in the world. The Philippines is a founding member of the United Nations, Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, East Asia Summit and the World Trade Organization. The Asian Development Bank (ADB) is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila.

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👉 Economy of the Philippines in the context of Commonwealth of the Philippines

The Commonwealth of the Philippines (Spanish: Mancomunidad de Filipinas; Tagalog: Komonwelt ng Pilipinas) was an unincorporated territory and commonwealth (dependency) of the United States that existed from 1935 to 1946. It was established following the Tydings–McDuffie Act to replace the Insular Government of the Philippine Islands and was designed as a transitional administration in preparation for full Philippine independence. Its foreign affairs remained managed by the United States.

During its more than a decade of existence, the Commonwealth had a strong executive and a supreme court. Its legislature, dominated by the Nacionalista Party, was initially unicameral but later bicameral. In 1937, the government selected Tagalog – the language of the capital Manila and its surrounding provinces – as the basis of the national language, although it would be many years before its usage became general. Women's suffrage was adopted, and the economy recovered to pre-Depression levels before the Japanese invasion of the islands in 1941. A period of exile took place during World War II from 1942 to 1945, when Japan occupied the Commonwealth.

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Economy of the Philippines in the context of Metro Manila

Metropolitan Manila (Filipino: Kalakhang Maynila [kalakˌhaŋ maɪˈnilaʔ]), commonly shortened to Metro Manila and formally the National Capital Region (NCR; Filipino: Pambansang Punong Rehiyon), is the capital region and largest metropolitan area of the Philippines. Located on the eastern shore of Manila Bay, the region lies between the Central Luzon and Calabarzon regions. Encompassing an area of 636.00 km (245.56 sq mi) and with a population of 13,484,462 as of 2020, it consists of sixteen highly urbanized cities: Manila—the capital city—Caloocan, Las Piñas, Makati, Malabon, Mandaluyong, Marikina, Muntinlupa, Navotas, Parañaque, Pasay, Pasig, Quezon City, San Juan, Taguig, and Valenzuela, along with one independent municipality, Pateros. As the second most populous and the most densely populated region in the Philippines, it ranks as the 7th most populous metropolitan area in Asia and the 6th most populous urban area in the world.

The region is the center of culture (including arts and entertainment), economy, education, and the government. Designated as a global power city, the region exerts a significant impact on commerce, finance, media, art, fashion, research, technology, education, and entertainment both locally and internationally. It is home to all embassies in the Philippines, making it an important center for international diplomacy in the country. Its economic power establishes the region as the country's premier center for finance and commerce. The region accounts for 36% of the gross domestic product (GDP) of the Philippines. Greater Manila is the fourth largest ASEAN country subdivision by GDP, after Singapore, and the Jakarta, and Bangkok metropolitan regions.

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Economy of the Philippines in the context of Tiger Cub Economies

The Tiger Cub Economies collectively refer to the economies of the developing countries of Indonesia, Malaysia, the Philippines, Thailand and Vietnam, the five dominant countries in Southeast Asia.

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LINKED FROM (PARENTS)
← Metro Manila ← Commonwealth of the Philippines ← Tiger Cub Economies ← Philippine Commonwealth ← Metropolitan Manila
LINKS TO (CHILDREN)
Emerging market → Newly industrialized country → Asia-Pacific → List of countries by GDP (nominal) → Economy of Asia → Asia → International Monetary Fund → United Nations → Association of Southeast Asian Nations → Asia-Pacific Economic Cooperation → East Asia Summit → World Trade Organization → Asian Development Bank → Ortigas Center → Mandaluyong → Metro Manila →