IMD World Competitiveness Booklet 2023

Philippines Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Manila

300 2022

45

46

54,478 2022

48

Exchange rate (per $)

111,57 2022 08 404,3 2022 34 10.351 2022 62 7,6 2022 06 5,82 2022 16 5,40 2022 36 49,54 2022 08 -4,41 2022 50 113,7 2021 43 3,15 2021 24

52

52

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Sustain economic recovery and growth momentum amidst global downside risks. • Strengthen social protection and health care systems for inclusive development. • Address learning gaps to improve local education system. • Invest in sustainable infrastructure to reduce climate change vulnerability. • Reinforce efficient public management strategies to support fiscal responsibility.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Asian Institute of Management, Rizalino S. Navarro Policy Center for Competitiveness

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

9

14

21

30

32

39

44 41

46

48

55

56 57 53 52

57 60 62

58

60

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS > 20 MILLION (27 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

18

19

19

20

20

13

13

13

13

13

100 Competitiveness Country Profiles