Philippines (the): Buying and Selling
The GDP per capita (PPP) is estimated at USD 9,277 (World Bank, 2019) growing from USD 7,180 five years earlier. The Gini index in the Philippines is 44.4 (World Bank, 2015 est.), placing the country on the 45th spot worldwide. The average salary in the Philippines is estimated at PHP 15,200, whereas the country has daily minimum wage rates that vary from region to region, ranging from PHP 290 to PHP 537 a day. The wages are set by tripartite regional wage boards located in every region.
According to the latest edition of the Family Income and Expenditure Survey published by the Philippine Statistics Authority, the average annual family income of Filipino families is approximately PHP 267,000 in 2018. In comparison, the average annual family expenditure is PHP 215,000; hence, Filipino families have savings of around 52,000 in a year, on average.
The Philippines ranked 16th out of 153 countries in terms of gender equality, according to the World Economic Forum (WEF) Global Gender Gap Report 2020, ranking as the first Asian country. However, the country ranked 8th in the previous edition, and has been losing ground on gender pay equality in recent years.
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Latest Update: June 2022