Attribute | Value |
---|---|
Geography | |
Area | 300,000 km² |
Continent | Asia |
Land area | 298,170 km² |
Water area | 1,830 km² |
Land boundaries | 0 km |
Border countries | Add |
Coastline | 36,289 km |
Mean elevation | 442 m |
Lowest point | 0 m |
Highest point | 2,954 m |
People | |
Population | 109,180,815 |
Official languages |
|
Religion | Roman Catholic |
Government | |
Long country name | Republic of the Philippines |
Short country name | Philippines |
Long local name | Republika ng Pilipinas |
Short local name | Pilipinas |
Former name | Add |
Government type | Presidential republic |
Capital | Manila |
Economy | |
GDP (PPP) | 877,200,000,000 USD |
GDP (OER) | 313,600,000,000 USD |
GDP (real growth rate) | 6.7 % |
GDP - per capita (PPP) | 8,400 USD |
Gross national saving | 24.3 % of GDP |
Labor force | 42,780,000 |
Unemployment rate | 5.7 % |
Population below poverty line | 21.6 % |
Budget revenues | 49,070,000,000 USD |
Budget expenditures | 56,020,000,000 USD |
Military expenditures | 1.13 % of GDP |
Taxes and other revenues | 15.6 % of GDP |
Budget surplus or deficit | -2.2 % of GDP |
Public debt | 39.9 % of GDP |
Inflation rate | 2.9 % |
Central bank discount rate | 3.56 % |
Commercial bank prime lending rate | 5.63 % |
Stock of narrow money | 71,130,000,000 USD |
Stock of broad money | 71,130,000,000 USD |
Stock of domestic credit | 209,800,000,000 USD |
Market value of publicly traded shares | 352,200,000,000 USD |
Current account balance | -2,518,000,000 USD |
Exports | 48,200,000,000 USD |
Imports | 89,390,000,000 USD |
Reserves of foreign exchange and gold | 81,570,000,000 USD |
External debt | 76,180,000,000 USD |
National currency | Philippine pesos |
National currency (code) | PHP |
National currency (symbol) | ₱ |
National currency rate to USD | 50.4 |
The Philippine Islands became a Spanish colony during the 16th century; they were ceded to the US in 1898 following the Spanish-American War. In 1935 the Philippines became a self-governing commonwealth. Manuel QUEZON was elected president and was tasked with preparing the country for independence after a 10-year transition. In 1942 the islands fell under Japanese occupation during World War II, and US forces and Filipinos fought together during 1944-45 to regain control. On 4 July 1946 the Republic of the Philippines attained its independence. A 21-year rule by Ferdinand MARCOS ended in 1986, when a "people power" movement in Manila ("EDSA 1") forced him into exile and installed Corazon AQUINO as president. Her presidency was hampered by several coup attempts that prevented a return to full political stability and economic development. Fidel RAMOS was elected president in 1992. His administration was marked by increased stability and by progress on economic reforms. In 1992, the US closed its last military bases on the islands. Joseph ESTRADA was elected president in 1998. He was succeeded by his vice-president, Gloria MACAPAGAL-ARROYO, in January 2001 after ESTRADA's stormy impeachment trial on corruption charges broke down and another "people power" movement ("EDSA 2") demanded his resignation. MACAPAGAL-ARROYO was elected to a six-year term as president in May 2004. Her presidency was marred by several corruption allegations but the Philippine economy was one of the few to avoid contraction following the 2008 global financial crisis, expanding each year of her administration. Benigno AQUINO III was elected to a six-year term as president in May 2010 and was succeeded by Rodrigo DUTERTE in May 2016. The Philippine Government faces threats from several groups, some of which are on the US Government's Foreign Terrorist Organization list. Manila has waged a decades-long struggle against ethnic Moro insurgencies in the southern Philippines, which led to a peace accord with the Moro National Liberation Front and a separate agreement with a break away faction, the Moro Islamic Liberation Front. The decades-long Maoist-inspired New People's Army insurgency also operates through much of the country. In 2017, Philippine armed forces battled an ISIS-Philippines siege in Marawi City, driving DUTERTE to declare martial law in the region. The Philippines faces increased tension with China over disputed territorial and maritime claims in the South China Sea.