PH a $1-T economy by 2033

PH a $1-T economy by 2033 – IHS Markit

By Mayvelin U. Caraballo

Jan 29, 2022 12:25 am

LONDON-BASED information provider IHS Markit said the Philippines is on track to become a $1-trillion economy by 2033, joining a select group of Asia-Pacific (APAC) countries.

The Philippine economy is expected to continue to grow rapidly over the next decade, Rajiv Biswas, IHS Markit chief economist for Asia Pacific, emphasized in a report released on Friday, with total gross domestic product (GDP) increasing from $360 billion in 2020 to $810 billion in 2030.

A customer buys a sack of onion and garlic at a vegetables stand at the Gapan Market in Nueva Ecija on Friday (Jan. 28, 2022). The Philippine Statistics Authority (PSA) has logged a 0.6 percent increase in production value in the country's agriculture and fisheries in the fourth quarter of 2021, mainly due to production increments. (PNA photo by Oliver Marquez)

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