RPs PCI is $1,742

February 17, 2008  --  Got something to say?
Print This Post Print This Post

The Philippines gross domestic product per capita rose 24.9 percent to $1,742 last year from $1,394 the year before, boosted by rapid economic expansion and the pesos strength against the dollar.

Despite the increase, the Philippines per capita GDP is still dwarfed by Thailands ($3,000 plus), Malaysias ($5,000 plus), and Singapores ($20,000 plus). Per capita GDP is the value of the Philippines total economic output divided by the population. It refers to the average contribution of each Filipino to the gross domestic product, the value of the goods and services produced in any given period, usually a year.

The state-run National Statistical Coordination Board computed the rise in per capita GDP. Multi-lateral lenders such as the Asian Development Bank and World Bank, which use more elaborate computation tools, have yet to release their own estimates for the Philippines. The Philippines per capita GDP surged in dollar terms after the peso appreciated by more than 15 percent against the greenback in 2007, which was complemented by the strong growth in per capita income, said Romulo Virola, secretary general of the National Statistical Coordination Board.


Posted by News Team | Filed Under Philippine News 

Comments

Got something to say?





Authentic Diecast Model Cars