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Trade Policy Review: Philippines 2018

image of Trade Policy Review: Philippines 2018

“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of Philippines.

English

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Report by the WTO Secretariat

Since its last Trade Policy Review in 2012, the Philippine economy has grown at an average annual rate of about 6%. Growth was driven mainly by consumption and infrastructure investment. GDP per capita in 2016 was some US$2,950, up from US$2,580 in 2012. The poverty rate declined from 25.2% in 2012 to 21.6% in 2015. Services constitute the most important sector in terms of contribution to GDP, and are also the fastest growing export sector. The Philippine Development Plan 2017-2022 focuses on making the economy more competitive, underpinned by sound regulatory practices and competition policy, and open services markets.

English

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