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Philippines Overview

The Philippines, officially the Republic of the Philippines, has one of Asia’s fastest-growing economies. It has transitioned from an agriculture-focused economy to one more based on services and manufacturing. With a high level of proficiency in English, the Philippines’ economy is also rapidly advancing in global services and trade.

Despite being the second-most populous country in Southeast Asia after Indonesia, its lower dependence on internal relations and stable domestic consumption has made the Philippines relatively resilient to global economic shocks.

The country’s primary exports include semiconductors, electronic products, transport equipment, garments, copper products. Its main export partners are Japan, USA, Hong Kong and China.

Global State of the Market Report

In 2020, the Advisory Board Centre mapped professionals currently serving on Advisory Boards. This assessment identified over 3,000 professionals on Advisory Boards in the Philippines.

Philippines’ Advisory Board Landscape

Research has identified that the Advisory Board sector is emerging, and Advisors exist as a profession in the Philippines. As an emerging sector, advisory board professionals may have opportunities in key sectors including – manufacturing, mining and transportation – and are encouraged to stay open-minded to start-up and emerging industries.

Future Growth Opportunities

There is a growing opportunity for professionals to increase participation in Philippines, by formalising Advisory Board structures and collaborating on a global scale. As this sector grows, it is important to note that best practice credentials will shift the market from informal to formal Advisory Boards over time.

Key Statistics

Population 108.1m Labour Force by occupation
GDP  376.8bn (USD) Agriculture 25.4%
Industry 18.3%
GDP by sector Services 56.3%
Agriculture 9.6%
Industry 30.6% Global ease of doing business rank 120th
Services 59.8% Global ease of doing business score 80.1/100
Imports 158.307bn (USD)
Export 131.193bn (USD)

 

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