Philippines poorest among ASEAN-5

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PH poverty The Philippines is now the fastest-growing member of ASEAN, but it remains the poorest among the five major economies in the group, the country’s National Statistical Coordination Board said on October 30.

NSCB secretary-general Jose Ramon Albert, citing the 2012 ASEAN community progress monitoring system report, said after growing by a better-than-expected 6.8 per cent in 2012 and by 7.6 per cent in the first half of 2013, “the Philippine economy is now the fastest growing among the five largest economies in ASEAN.”

ASEAN 5, which is composed of Indonesia, Malaysia, the Philippines, Singapore and Thailand, is expected to be the key growth driver not only in Southeast Asia but also in the greater Asia-Pacific region.

Albert said while the country outpaced the economic growth of its peers last year and in the first half of 2013, “the Philippines still has the lowest per capita GDP [in purchase power parity terms] of $4,339.”

Meanwhile, it turned out that the Philippines remains to be one of the poorest in terms of overall infrastructure quality within its peers in ASEAN.

The World Economic Forum Global Competitiveness Report 2013 said the Philippines ranked fourth out of five countries. Philippines scored 98, just above Vietnam’s 119, which ranked more poorly. The Philippines ranked the worst in quality of sea port and air transport infrastructures with scores of 120 and 112, respectively.

Malaysia led the group with a score of 29 in overall infrastructure quality, followed by Thailand and Indonesia with scores of 49 and 92, respectively.

WEF-infrastructure

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Reading Time: 2 minutes

The Philippines is now the fastest-growing member of ASEAN, but it remains the poorest among the five major economies in the group, the country’s National Statistical Coordination Board said on October 30.

Reading Time: 2 minutes

PH poverty The Philippines is now the fastest-growing member of ASEAN, but it remains the poorest among the five major economies in the group, the country’s National Statistical Coordination Board said on October 30.

NSCB secretary-general Jose Ramon Albert, citing the 2012 ASEAN community progress monitoring system report, said after growing by a better-than-expected 6.8 per cent in 2012 and by 7.6 per cent in the first half of 2013, “the Philippine economy is now the fastest growing among the five largest economies in ASEAN.”

ASEAN 5, which is composed of Indonesia, Malaysia, the Philippines, Singapore and Thailand, is expected to be the key growth driver not only in Southeast Asia but also in the greater Asia-Pacific region.

Albert said while the country outpaced the economic growth of its peers last year and in the first half of 2013, “the Philippines still has the lowest per capita GDP [in purchase power parity terms] of $4,339.”

Meanwhile, it turned out that the Philippines remains to be one of the poorest in terms of overall infrastructure quality within its peers in ASEAN.

The World Economic Forum Global Competitiveness Report 2013 said the Philippines ranked fourth out of five countries. Philippines scored 98, just above Vietnam’s 119, which ranked more poorly. The Philippines ranked the worst in quality of sea port and air transport infrastructures with scores of 120 and 112, respectively.

Malaysia led the group with a score of 29 in overall infrastructure quality, followed by Thailand and Indonesia with scores of 49 and 92, respectively.

WEF-infrastructure

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