Скачать или смотреть How the Philippines SURPASS Thailand: The RISE of Asia's New Economic GIANT Trillion Dollar Economy

the Philippines is quietly rising, as the second richest nation in the Asean region? The Philippines' economy is considered as one of the most dynamic economies in East Asia and the Pacific. With strong domestic consumption, buoyed by strong remittances abroad, young and growing educated workforce, and policy endeavors, have catapulted the Philippines, onto a path of faster growth, and emerging as a rising tiger in the region.
Although the Philippine economy’s grow at a modest pace, from the 1980s to the 1990s, the economy has nonetheless seen significant growth in the last two decades.
In 2024, Philippines Gross National Income or GNI, surpasses Thailand making the country the second wealthiest nation, in terms of accumulated National Income in Southeast Asia after Indonesia, according to the latest economic data released by the World bank.
With an accumulated wealth of $518.1 Billion, the Philippines outranked its neighbors. Thailand whose rank fall into the third spot, with gross national Income amounting to $510.2 Billion. Followed by Vietnam with GNI amounting to $453.5 Billion, Singapore GNI amounting to $451.2 Billion and Malaysia amounting to $414.9 Billion. Indonesia remains in the region with the highest accumulated wealth amounting to 1 trillion and 393.2 billion dollars.
Why is the Philippines Gross National Income being significantly higher compare to its Gross Domestic Product?
Worth noting that among the Major Economies in Southeast Asia, known as the Asean 6, only the Philippines has a bigger Gross National Income compared to its Gross Domestic Product. Philippines GNI is $56.5 billion higher compared to its GDP.


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