The gross domestic product (GDP) is the overall charge of goods and services created in

a republic through a year. Economic growth is viable growth in the quantity of goods and

services formed in a country’s economy within a certain time. The gross domestic

product (GDP) is one of the primary indicators used to gauge the health of a country's economy.

It represents the total dollar value of all goods and services produced over a specific time period,

often referred to as the size of the economy.

The Philippines is one of the most dynamic economies in the East Asia and the Pacific

region. With increasing urbanization, a growing middle-income class, and a large and young

population, the Philippines’ economic dynamism is rooted in strong consumer demand supported

by vibrant labor market and robust remittances. Business activities are buoyant with notable

performance in the services sector including the business process outsourcing, real estate, and

finance and insurance industries.

Sound economic fundamentals and a globally recognized competitive workforce

reinforce the growth momentum. Having sustained an average annual growth of 6.4 percent

between 2010-2017 from an average of 4.5 percent between 2000-2009, the country is poised to

make the leap from a lower-middle income country with a gross national income per capita of

US$3,660 in 2017 to an upper-middle income country (per capita income range of US$3,896 –

12,055) in the medium term.

The Philippines remains a strong growth performer in the East Asia region. While the

Philippine economic growth moderated to 6.3 percent year-on-year in the first half of 2018 from

6.6 percent in the same period last year, the Philippines was among the top three growth

performers in the region. Private consumption growth marginally declined amidst rising
inflation, but remained robust given a stable job market and the steady remittance inflows.

Investment spending supported growth, fueled by increased investments in durable equipment

and buoyant activity in the construction sector. In addition, public consumption growth

accelerated, as the government continued to ramp up public spending. Net exports, however, was

weaker driven by softening global trade, and robust import growth.

In recent years, the Philippine economy has made progress in delivering inclusive

growth, evidenced by the declining poverty rates and a falling Gini coefficient. Poverty declined

from 26.6 percent in 2006 to 21.6 percent in 2015 while Gini coefficient declined from 42.9 to

40.1 over the same period. Unemployment has reached historic low rates but underemployment

remains high, near its 18-20 percent decade-long average. Although a large share of Filipino

workers transitioned out of agriculture, most of them end up in low-end service jobs. Thus, while

employment increased between 2006 and 2015, average wages remained stagnant. Measures to

generate good jobs and better wages therefore are essential to achieve shared prosperity.

Philippines (Unemployment Rate)

 The graph shows the continues ups and downs of the unemployment rate in the

Philippines. In the first quarter of 2010 Philippines reached the 8% of unemployment rate which

is the highest for the past 10 years. Philippines’ all-time highest unemployment rate was

recorded on the first quarter of year 2000 with 13.9%. The average unemployment rate in

Philippines is 8.38 percent from 1994 until 2018. The unemployment rate in the Philippines rose

to 5.1 percent in the last quarter of 2018 from 5.0 percent in the same period a year earlier.

Philippines (Inflation)

The controversial 6.4 surge of the inflation rate last December 2018 is quite noticeable

for it was the highest increase for the past 9 years. Philippines’ lowest inflation rate was recorded

in the last quarter of 2015.

Philippines (Balance of Trade)

 The Philippine's trade deficit widened to USD 3.90 billion in November of 2018 from

USD 3.28 billion in the same month a year earlier. Imports increased by 6.8% in November 2018

after a 21.4% increase in October 2018. On the other hand, exports decline by 0.3%.

Uganda’s economy has grown at a slower pace recently, thus reducing its impact on

poverty. Average annual growth was 4.5% in the five years to 2016, compared to the 7%

achieved during the 1990s and early 2000s. The slowdown was mainly driven by adverse

weather, unrest in South Sudan, private sector credit constraints, and the poor execution of public

projects

However, the economy seems to have rebounded in the latter half of 2017, driven largely

by growth in information and communication technology (ICT) services and favorable weather

conditions for the agricultural sector. Real gross domestic product (GDP) growth is expected to

be above 5% in 2018 and could rise further to 6% in 2019. This outlook assumes continued
favorable weather conditions, robust external demand, an increase in foreign direct investment

(FDI) inflows as oil exports draw closer, and capital spending executed as planned.

Reliance on rain-fed agriculture, however, remains a downside risk to growth, the poor’s

income, as well as export earnings. Tax collections are below expectations and fiscal pressures

are rising. Meanwhile, delays and poor management of the public investment program could

prevent the productivity gains expected from enhanced infrastructure, while an acceleration in

domestic arrears may have an adverse impact on private investment and further limit the

extension of credit.

Finally, regional instability and a continued influx of refugees could undermine exports

and disrupt growth in refugee hosting parts of Uganda. South Sudan and the Democratic

Republic of Congo (DRC) are Uganda’s 2 ndand 4th top export destinations.  Potentially

intensifying conflicts in these countries will negatively affect the growth of Uganda’s exports,

which will also have implications for debt sustainability and the current account.

Uganda (Unemployment Rate)

 Unemployment Rate in Uganda increased to 2.10 percent in 2017 from 2 percent in 2016.

Uganda reached its highest point for the last 10 years last 2011. Uganda’s unemployment rate

decreased and reached its lowest point last 2012 with 1.55%. Uganda has an average

unemployment rate of 2.38% from 1991 until 2017.

Uganda (Inflation Rate)

 The annual inflation rate in Uganda increased to 2.7 percent in January 2019 from 2.2

percent in the prior month. Prices rose faster mainly for housing & utilities (3.5% vs 3.3% in

December); miscellaneous goods & services (3.9% vs 3.1%); recreation & culture (2.4% vs

1.9%); restaurants & hotels (1.8% vs 1.1%) and clothing & footwear (6.7% vs 5.5%). 6.36% is

the average inflation rate of Uganda from 1998 to 2019. Uganda’s highest inflation rate reached

24.5% on November of 2011.

What differentiated the inflation rate of the 6 countries was the range of inflation rate

percentage. Country’s inflation rate range tend to go smaller as it develops.

Uganda (Balance of Trade)

Uganda recorded a trade deficit of 334.60 USD Million in December of 2018. Uganda

has an average Balance of Trade of -152.4 USD Million from 1993 to 2018. The largest deficit

for the past 10 years was recorded in the last quarter of 2015.
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https://www.worldbank.org/en/country/philippines/overview

https://www.worldbank.org/en/country/uganda/overview